Since 2014, DFGE has been advising companies as an accredited Silver Climate Change Consultancy Partner of CDP in Germany on how to participate in sustainability reporting in compliance with relevant regulations. The strong partnership is extended again for two years. DFGE remains a CDP science-based targets partner and facilitates compliance with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations.
Munich/Greifenberg, 25. August 2022 – CDP stands for one of the longest established and largest initiatives for sustainability reporting taking supply chains into account. Launched almost twenty years ago as the Carbon Disclosure Project, CDP has successively expanded its collection of climate-related data to include water security, forests, and other important indicators such as biodiversity and circular economy.
In the course of the five-year strategy, science-based targets (SBTs), which represent not just lip service by companies but science-based reduction targets to which companies commit, are gaining particular importance. Since 2017, the Task Force on Climate-related Financial Disclosures (TCFD) recommendations for improving and expanding the reporting of climate-related financial information have also played an increasingly important role.
The CDP partner accreditation gives DFGE – Institute for Energy, Ecology and Economy a special seal of quality. For more than twenty years, DFGE has been assisting companies in carbon accounting, i.e. calculating product and company carbon footprints, and in participating in CSR reporting such as the CDP. Here, DFGE Sustainability Intelligence solutions cover CDP climate change, CDP supply chain, as well as CDP water security and forests. In 2019, DFGE became the first CDP partner for SBTs. To address TCFD recommendations, DFGE offers modular services.
Companies that cooperate with DFGE for their sustainable management and CSR reporting benefit from the CDP partnership through
- A direct line from DFGE to CDP, so ambiguities or open questions can be answered quickly.
- DFGE’s scientific expertise and experience. Due to the long-standing partnership, the DFGE team is very familiar with the challenges of participating in CDP.
- Free webinars to build know-how. CDP and DFGE offer several joint online sessions to provide detailed information on CDP requirements.
“CDP has longstanding experience with DFGE as a CDP Silver climate change and SBT consultancy partner in Germany. Their services and expertise help companies to develop credible strategies for transforming their business models to align with a 1.5°C, net-zero economy.“ says Olwen Smith, Global Lead of Transition Accelerator team at CDP.
“The integration of science-based targets and the consideration of TCFD are essential keys for climate protection. Companies are required to include these in their company-wide climate strategy, update them regularly and adapt them to new requirements. We are very pleased to continue to work closely with CDP on these efforts,” said Dr.-Ing. Thomas Fleissner, Founder and Managing Director of DFGE.
CDP Global Head of Programs, Paul Robins, commented on the renewed partnership: “CDP welcomes the renewal of its Consultancy Partnership with DFGE. CDP’s new strategy aims for a world in 2025 where there is significantly improved transparency on environmental issues, with a much larger group of stakeholders creating a comprehensive, holistic picture of the impacts of companies, cities, and subnational governments on the Earth’s natural systems. With DFGE and its scientific and longstanding CDP experience, companies receive expert support in their CDP reporting and effective implementation of their climate strategy to realize this vision.”
Science-based targets (SBTs) are clearly defined pathways for companies and financial institutions to reduce greenhouse gas (GHG) emissions which have been validated by the SBTi. Targets are considered ‘science-based’ if they are in line with what the latest climate science deems necessary to meet the goals of the Paris Agreement – limiting global warming to 1.5°C above pre-industrial levels. The DFGE team advises companies on science-based target setting, methodology selection, and implementation, i.e., submission to the Science Based Targets initiative (SBTi). DFGE services range from workshops to holistic projects analysing and implementing the optimal SBT solution for companies.
Climate-related risks also have a major impact on financial markets. The Task Force on Climate Related Financial Disclosure (TCFD) covers this reference in the ESG context. The TCFD was established back in 2015 after COP21 by the Financial Stability Council of the G20 countries with the aim of examining how the financial sector can better consider climate-related issues. The standardized and international framework created from these deliberations aims to integrate the impacts of climate change and the resulting financial risks and opportunities for companies into a common approach. Consideration of the TCFD recommendations will provide a fundamental preparation for EU CSRD reporting requirements as well as an essential foundation for CDP participation. DFGE assists in the selection and prioritization of relevant climate risks and opportunities, as well as in the preparation of climate-related scenario analyses. The process includes, for example, a gap analysis as well as a materiality analysis of climate-related opportunities and risks.
Interested parties can learn more about:
- Science-based targets – https://sciencebasedtargets.org/
- TCFD – https://www.fsb-tcfd.org
- CDP – http://www.cdp.net
- DFGE Services for CDP – https://dfge.de/en/cdp-climate-change/ – https://dfge.de/en/cdp-water/ – https://dfge.de/en/cdp-forest/
- DFGE Services for Science-based Targets – https://dfge.de/en/science-based-targets/
- DFGE Services for TCFD – https://dfge.de/en/tcfd/
About DFGE
Founded in 1999 as a spin-off of the technical University of Munich, the DFGE – Institute for Energy, Ecology and Economy provides consulting services in the field of sustainability. Our offer Sustainability Intelligence featuring calculation management, reporting solutions and strategy development aims at bundling the effort of taking part in several sustainability/CSR standards and rankings like CDP, UNGC, DJSI, EcoVadis or GRI as well as building overarching strategies, such as a sustainability strategy according to the SDGs. As the unique partner of the CDP for SBTs, DFGE provides its customers with comprehensive advice on climate strategy and helps them to operate climate-neutrally at product level or company-wide. To enable a future AI-based CSR management, DFGE researches in big data approach and machine learning. Our clients comprise international companies (DAX and fortune 500), SMEs, governmental organisations, or territorial authorities.
The DFGE disclaims all warranties as to the accuracy or completeness of the given information. All opinions and estimates included in this report constitute DFGE’s judgment as of the date of this report and are subject to change without notice. DFGE shall have no liability for errors, omissions, or inadequacies in the information contained herein or for interpretations thereof. All trademarks and registered trademarks are the property of their respective owners.
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