Companies save US$80-94 billion by implementing emissions reductions initiatives since 2024
On average, companies see US$10 potential benefit on every US$1 invested in responding to physical climate risk
Total return for companies in financial services as high as US$64
Inaction could see loss of US$1.24 trillion from environmental risks by 2030, rising to US$1.77 trillion by 2040
London, 17 June 2026: The financial case for addressing environmental risk is being realised on a global scale. New analysis from CDP’s 2026 Disclosure Dividend report shows that companies saved between US$80-94 billion through emissions reduction initiatives since the launch of the annual report in 2025, highlighting the immediate value of disclosure and action despite a volatile global backdrop.
The 2026 Disclosure Dividend draws on data from over 11,260 large and mid-sized companies that reported environmental data through CDP in 2025, and which account for around two-thirds of global market capitalization.
The report reveals that for every US$1 spent on responding to physical climate risk there is an average potential benefit of up to US$10, up from US$8 in 2025’s inaugural report.
The latest analysis deepens the picture by capturing a broader range of financial risks, examining both physical and transition risks across climate, forests and water.
All countries and regions see a return in addressing environmental risks. Asia offers a high level of return on investment, with Japan seeing a median return of US$9 and China seeing US$11. In Europe, the median returns are US$7 for Germany, US$8 for France and slightly higher in the United Kingdom at US$10.
The proportion of companies identifying substantive environmental risks has increased from 46% in 2018 to 80% in 2025, and a clear majority are now also linking them to financial performance.
71% of companies disclosed which financial metrics are exposed to the material impacts of these risks - with revenue emerging as the most exposed (47% of companies) - showing that the implications of not addressing climate change are already understood in financial terms.
CDP’s analysis suggests that inaction will result in around US$1.24 trillion in cumulative loss from environmental risks by 2030, rising to US$1.77 trillion by 2040.
Separately, CDP conducted an analysis on profitability of emissions reduction initiatives. Waste reduction and material reuse is the most financially attractive initiative, generating US$3.9 on every US$1 invested, being paid back in a median of only 1.3 years. Energy efficiency in production processes is second, generating US$3.6 for every US$1 invested, with a median payback of 2.1 years. Every US$1 invested in emissions reduction generates an average of US$2.4 in return, and in some cases up to US$7 over its lifetime.
Sherry Madera, CEO of CDP, said:
“Understanding resilience has never been more important for companies that want to build competitive advantage. The difference between exposure and opportunity lies in data, and in how companies use it to inform Earth-positive economic decisions. Our analysis shows that the returns from action are compelling, but so too are the costs of delay. Environmental data disclosure is fast becoming a core economic discipline for companies of every size, sector and region to build resilience and performance.”
Across the board, firms have developed a more sophisticated understanding of their environmental dependencies, risks, impacts and opportunities, which has led to significant efficiencies and cost savings. Examples of companies tackling environmental risk include:
International beverage company, Diageo, recently started to implement over 60 emissions reduction initiatives - from reducing packaging to investing in bioenergy - which will save an estimated 90,000 tonnes of carbon dioxide equivalent per year.
Leading Chinese sportswear company, ANTA Sports, cut its Scope 1 emissions by 11.1% in 2024, with emissions intensity falling by 21.7%. Over 1,000 of its suppliers have participated in decarbonization initiatives.
--Ends--
Notes to Editors
In 2025, more than 23,100 companies, cities, states and regions disclosed environmental data through CDP. CDP’s 2026 Disclosure Cycle will open in the week of 15 June.
For more information, or to arrange interviews, please contact:
Samika Meshram-Jasinski (samika.meshram@cdp.net)
George Bush (george.bush@cdp.net)
About CDP
CDP is a global non-profit that runs the world’s only independent environmental disclosure system. As the founder of environmental reporting, we believe in transparency and the power of data to drive change. Partnering with leaders in enterprise, capital, policy and science, we surface the information needed to enable Earth-positive decisions.
We helped more than 22,100 companies and over 1,000 cities, states and regions disclose their environmental impacts in 2025. Financial institutions with more than a quarter of the world’s institutional assets use CDP data to help inform investment and lending decisions. Aligned with the ISSB’s climate standard, IFRS S2, as its foundational baseline, CDP integrates best practice reporting standards and frameworks in one place.
Our team is truly global, united by our shared desire to build a world where people, planet and profit are truly balanced.