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CDP Aligns with ISSB to Streamline Global Sustainability Reporting

CDP, a leading global non-profit, has announced further alignment with the International Sustainability Standards Board (ISSB) to streamline sustainability reporting for companies worldwide. This partnership marks a step towards creating a unified approach to environmental disclosure that could set a global benchmark.

What’s New with CDP and ISSB?

  • Unified Questionnaires: CDP’s 2024 corporate questionnaire now aligns with the ISSB’s IFRS S2 climate standard, integrating previous separate questionnaires on climate change, forests, and water security.
  • Global Reach: With countries representing nearly 55% of global GDP and more than 40% of global market capitalization pushing for mandatory alignment with ISSB standards, CDP’s integration assists companies in these economies to meet their evolving regulations.

CDP’s Role and Reach:

  • Environmental Leadership: CDP runs the world’s largest environmental disclosure system for companies and regions, with over 24,000 organizations participating in 2023.
  • Strategic Partnerships: CDP is not only aligned with ISSB but also works closely with other frameworks like the Taskforce on Nature-related Financial Disclosures (TNFD) and the European Union standards (ESRS).

Why Does This Matter?

  • Easier Access to Information: Investors and capital owners benefit significantly from this alignment. A standardized reporting format across various sustainability metrics makes it quicker and more efficient for investors to access the data they need to make informed decisions.
  • Driving Global Standards: As jurisdictions around the world consider integrating ISSB standards into their legal frameworks, CDP’s alignment ensures that companies are prepared and compliant.

Looking Ahead:

Wider Adoption Expected: More than 20 jurisdictions are moving towards adopting or aligning with ISSB standards, which cover significant portions of the global economy and market capitalization.

Harmony Analytics and Your Business

As sustainability reporting standards continue to evolve, staying informed and adaptable is crucial. Harmony Analytics provides tools and services that help businesses understand and integrate these new requirements into their strategic planning.

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