CDP Expands Environmental Reporting to Include Water Risks
CDP, formerly Carbon Disclosure Project, is broadening its environmental reporting to encompass water risks more comprehensively. The organization is collecting data from 1,000 companies, a 59% increase in corporate participation since 2012.
CDP, previously known as the Carbon Disclosure Project, has expanded its operations and evolved its platform to cover a wider spectrum of natural resources, specifically water and forests, alongside carbon and energy.
This year, the organization is requesting over 1,000 companies to report information related to water risks. More than 593 of the world's largest corporations engage with CDP to enable effective measurement and management of water-related issues, including risk reduction and mitigation of detrimental impacts. This figure represents a 59% increase in the number of companies using CDP to communicate their water management efforts since 2012, making CDP's website the largest and most comprehensive set of corporate water information globally.
The report highlights that corporate water risks are becoming more immediate and presents company efforts to mitigate these risks and achieve water stewardship. It also makes a case for investor intervention. The goal is to drive market progress towards sustainable economies and respond to global business, finance, investment, and environmental needs.
CDP's rebranding reflects its growth and expansion from solely focusing on carbon disclosure to becoming a global entity addressing climate change, water, and forests. The platform supports multinational purchasers in building more sustainable supply chains and assists cities in exchanging information, taking action based on best practices, and building climate resilience.