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CDP, in partnership with ACT Group, has analyzed the public disclosure results of Asia-Pacific companies reporting through CDP via the climate change, forests, and water security questionnaires.
Key findings
- In 2023, the Asia-Pacific region accounted for over 30% of CDP’s global disclosures, with nearly 8,000 submissions – a 30% increase from the previous cycle.
- South Korea, Vietnam, and Cambodia recorded the highest relative increases in CDP disclosures, while China, Japan, and South Korea saw the most significant absolute increases.
- Nearly 40% of A List companies are from the Asia-Pacific region, with Japan leading in climate change, forest, and water security A List companies.
- Staying within 1.5°C remains a key goal, but target adoption has stagnated. Although transition plans have increased, less than a third have financial planning to support them.
The Asia-Pacific region, contributing over 30% of CDP’s global disclosures, has made significant strides in environmental reporting. In 2023, a record 8,000 companies, valued at $14 trillion, disclosed their data, marking a 170% increase since 2020 and an annual growth rate surpassing the global average of 24%. However, greater ambition is needed to meet our challenges and accelerate the transition to net zero and nature-positive outcomes.
Similarly, greater progress is needed to establish robust targets for emissions reductions. Despite increased climate disclosures in the Asia-Pacific, progress in reducing greenhouse gas emissions is slow. While the number of 1.5°C-aligned targets is rising, their proportion remains unchanged.
Addressing climate change and nature loss together is crucial in the Asia-Pacific due to its biodiversity, economic reliance on natural resources and climate vulnerability. Despite this, less than 30% of the Asia-Pacific companies disclosing through CDP in 2023 provide information on nature-related issues, highlighting the need for a broader environmental focus.
On a positive note, disclosures on nature-related topics, such as water security, are steadily increasing and keeping pace with climate disclosures.
About ACT Group
Learn more about ACT Group including how the comprehensive and innovative environmental solutions they develop and provide on a global scale can help your business to act on and achieve its environmental goals efficiently and transparently, no matter how ambitious.