Our CDP clients, like United Utilities and Morgan Sindall, will tell you that it’s great to beat their competitors, but here at Tricarbon we think that CDP should be more than just a score. So, we’ve designed a CDP support package that helps our clients get the very most from their disclosure efforts.
How does it work?
CDP drives businesses to build a sustainable economy by measuring and understanding their environmental impact. Tricarbon helps businesses to fully investigate their carbon metrics and to turn that insight into achievable business plans. We work together to help understand how businesses can reduce climate change risks to their operations and supply chains.
In parallel, we also help our clients to communicate their performance to the best of their ability, to delight their customers, clients and investors – and to get that great CDP score.
CDP has evolved
As businesses have become more aware of the financial risks surrounding climate change, so CDP is evolving in order to keep asking relevant questions to understand these complex risks. The key changes are:
Although most companies will continue to report via the standard questionnaires, for several specific sectors, information requests are being aligned with the recommendations set out in the Task Force on Climate-related Financial Disclosures. These sectors are:
Over three-quarters of questions will remain unchanged or updated, but the additional sector-based questions will enable investors to more easily compare environmental performance. More high-impact sectors will be included over the next two years.
The new sector-specific questions will help better quantify future risk exposure by including more relevant metrics. For example, by asking for information on fossil fuel reserves, CDP is attempting to help companies be more aware of locked-in emissions and stranded assets. This builds upon their work with metrics such as science-based target setting and carbon pricing to include reporting on scenario analysis.