Financial Institutions Press Companies on CDP Disclosure

Financial institution signatories to CDP are demanding data on climate change, deforestation and water security from more than 1,600 high-impact companies.

Saudi Aramco, Exxon Mobil, Glencore, Chevron and Tesla are among the 1,607 organisations that will be targeted by financial institutions in a campaign to encourage them to disclose environmental data through the environmental disclosure platform CDP.

The Non-Disclosure Campaign has the backing of 288 financial organisations with USD 29 trillion in assets and will see them engaging with companies failing to respond to CDP’s disclosure request.

CDP’s analysis of its 2022 non-disclosure campaign found companies were 2.3 times more likely to disclose if they were directly engaged by financial institutions.

The Non-Disclosure Campaign includes PGGM, Legal & General Investment Management, Aviva Investors and Schroders.

Companies will be asked to disclose data on at least one of three priority themes: climate change, forests, water, and for the first time a new module of plastics in the water questionnaire.

The deadline for companies to submit their questionnaires in order to be eligible for scoring is 26 July. 

Read more articles like this on Regulation Asia’s sister publication, ESG Investor.

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