When CDP began securing climate disclosure from companies in 2002 it was seen as innovative and novel. This year nearly 6,000 companies, representing close to 60% of global market capitalization, disclosed through us. These companies represent all sectors, are from over 90 countries and disclosed together with over 500 cities and 100 states and regions.
The recommendations released by the Financial Stability Board’s Task Force for Climate-related Financial Disclosures this week mark a step change in the integration of climate information into mainstream financial reporting. But are they game-changing? How can they be implemented and what is the impact? And what does this mean for CDP and the future transition to a low carbon economy?
This is an excerpt from Paul Simpson's article, which originally appeared in Responsible Investor. You can read the full piece here.