CDP has recently announced several changes users can expect for 2024. In this blog post we will quickly outline what is to come so you’re perfectly prepared and informed for the next CDP season.
First of all, the deadline for submitting the questionnaire will be September 2024 (previously end of July). However, corporate scores are still intended to be published by the end of the same year. This change in schedule is due to the need for time on the part of the organization for the proper implementation of the adjustments summarized in the following, as well as to allow disclosers time to adjust properly to these:
- New corporate disclosure framework and technology platform:
Aspiring to simplify and improve efficiency in the process of disclosing to CDP, the introduction of a new corporate disclosure framework on a new technology platform was announced. This is to be achieved through an intuitive design of the platform as well as customizing the appearance of questions to each disclosing company. The platform will be available as soon as next April.
- Changes in the Corporate Questionnaire:
The questionnaire will, from 2024 on, come in an integrated form, meaning that there will no longer be three separate disclosures for climate, forest, and water, but one that comprises all three topics, depending on the sector or business activity of the disclosing company. With this new structure, CDP aims to circumvent duplicated entries, as well as simplify and accelerate the disclosing process. Nevertheless, ratings will still be conducted separately for the three topics.
Moreover, the organization is working towards the alignment of the questionnaire with the ISSB S2 Climate Standard in 2024 to drive and support commitment beyond the legally required.
- Launch of a Small and Medium Enterprises (SME) Questionnaire
- Cooperation with the European Financial Reporting Advisory Group (EFRAG):
Not only does CDP strive to align its platform with the European Sustainability Reporting Standards (ESRS) but also are the two organizations planning a range of joint webinars and the publishing of other comprehensive resources to assist the disclosers in meeting the upcoming legal requirements. This is intended to bolster and expedite the implementation of the standards.
With all these adjustments, CDP strives to achieve more efficiency in reporting and spur undertakings. The organization recognizes the urgent necessity of accelerating global efforts to be able to meet our global sustainability targets set for 2030.
Get support on your CDP journey from DFGE
As a CDP silver climate change consultancy partner DFGE helps responding companies with the completion of their CDP questionnaire from data collection to final submission. With our expertise and as accredited provider, we can minimize efforts and resources at your end and ensure a successful participation with our CSR reporting solutions. DFGE can support you in improving your sustainability performance by ensuring your company’s successful participation in the CDP Assessment as well as other sustainability ratings and initiatives.
Dieser Beitrag wurden in Zusammenarbeit mit unserer Kollegin Hannah Bach erstellt.