Letter to the Board
CDP’s ‘Letter to the Board’ is sent to a company’s senior stakeholders, annually. It is a formal invitation to disclose environmental information on behalf of their investors via CDP’s corporate questionnaire.
In 2026, CDP’s Capital Markets Signatories – over 540 financial institutions with US$110+ trillion in assets – are requesting over 43,000 organizations to disclose data which can be used to inform business and financing decisions.
This is proof that the market values and continues to demand comprehensive environmental information.
Who is CDP and what is disclosure?
Founded in 2000, CDP runs the world’s only independent environmental disclosure system with unparalleled depth and breadth across regions, sectors and environmental issues. We are repeatedly ranked as a market leader for quality and usefulness by sustainability professionals (Source: ERM Sustainability Institute).
Disclosure through CDP provides a window of opportunity for companies, cities, states, and regions to demonstrate their environmental progress over the past year and achieve a CDP score in the process (if they respond before the scoring deadline).
companies disclosed in 2025, including some of the world’s largest and most impactful companies. These companies represent nearly two thirds of global market capitalization, 97% of the Nikkei 225, 83% of the IBOVESPA, 75% of the S&P 500, and 78% of the STOXX Europe 600.
Small and Medium-sized Enterprises disclosed through CDP’s dedicated SME questionnaire in 2025, supporting and empowering small businesses to measure their environmental impacts.
companies began their disclosure journey last year, disclosing through CDP for the first time in 2025.
cities, states and regions disclosed in 2025.
What are the benefits of disclosing through CDP?
Boost your customer reputation and provide investors with the market-relevant data they’re calling for.
CDP’s questionnaire is unrivalled in its alignment with global environmental frameworks and standards. Disclosure supports organizations to understand and prepare for these changing requirements.
Open the door to new economic opportunities, markets, products and services that would otherwise remain hidden. CDP research found that a group of 280 CDP A List environmental leaders realized a total of US$218 billion in environmental opportunities across climate change, forests and water security.
For local governments, transparency surfaces benefits such as improved food security, increased social inclusion, and job creation en route to tackling wider, unrelated issues.
CDP scoring is deeply valued across the market for its independence, integrity and rigor.
By disclosing through CDP (before the scoring deadline), organizations can choose to be scored on their environmental progress.
Achieving a strong CDP score is a byword for environmental excellence, allowing companies to improve their reputation and communicate their progress to customers, investors, and policymakers.
Data disclosed through CDP powers data markets, index construction, investment research and financial products.
It is utilized by a huge range of stakeholders including:
L’Oréal to strengthen procurement requirements and build supply chain resilience; and
the Intergovernmental Panel on Climate Change (IPCC) and World Bank to inform stronger policymaking.
Which organizations are supporting this request?
If you have been requested to disclose and would like to obtain the full list, please contact your Disclosure Account Manager (note, if you don’t have a Disclosure Account Manager, please raise a case with our support team via the CDP Help Center).
Which organizations have been requested this year?
Browse the full list of organizations requested to disclose by CDP’s Capital Markets Signatories, below.
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Next steps: What should requested organizations do after receiving the Letter to the Board?
We will be in contact with your organization in June to let you know when the response window opens, so your organization can begin to disclose.
Until then, you can do the following:
Share the ‘Letter to the Board’ with your sustainability team (or equivalent team). If someone else at your organization should receive this, or if your Letter should be addressed to a different contact, they should contact your organization's Disclosure Account Manager (note, if you don’t have a Disclosure Account Manager, please raise a case with our support team via the CDP Help Center to be connected with one).
Stay up to date with the 2026 disclosure cycle including key dates to keep in mind. You can find important information, resources and updates to help you prepare to and subsequently disclose.
If you have previously disclosed through CDP, log into your CDP Portal account to review and update your organizational details, if necessary.