2023 is a pivotal milestone in our pursuit of a net-zero and nature-positive future. This transformative period increasingly demands that major sectors in our economy, including finance, business and government, undergo a profound reevaluation of their business models and strategies. We cannot achieve our climate goals without restoring nature – they go hand in hand. We are all part of a complex ecosystem where our actions greatly impact each other and the world around us.
Collaboration and transparent data will be key to enhancing the strategic approaches of companies, organizations and municipalities reflecting the imperatives set forth by science. For over 20 years, CDP has driven both, catalyzing impactful change. On May 31, 2023, CDP hosted its annual US Workshop, our flagship yearly event for businesses, financial institutions and the public sector to hold meaningful multi-stakeholder conversations and upskill in implementing critical environmental actions. This year, over 500 in-person and virtual attendees participated in thoughtful discussions about mandatory environmental disclosure in the US, disclosure trends and requirements, use of CDP data by financial institutions and the wider capital markets, New York’s climate actions and the opportunities for addressing deforestation, among other topics.
Participants were encouraged to share comparable and contrasting perspectives and afforded the opportunity to shed light on timely discussion points such as new proposed laws in California that would require companies to disclose GHG emissions, the role comprehensive business plans play in future-proofing companies to be more resilient, how climate accounting needs to map to traditional financial accounting and the vital role investment plays in decarbonization and nature preservation. During this event, a resounding call to action reverberated, urging influential actors to embrace innovation and adaptation, driven by sound policy and planning.
The US Workshop featured a lineup of esteemed speakers sharing invaluable insights on critical aspects of transitioning to net-zero and effectively accounting for nature, including Laurel Blatchford, Chief Implementation Officer for the IRA at the US Department of the Treasury, and Dr. Jeffrey Sachs, Director of the Center for Sustainability Development at Columbia University. Additional guest speakers included NYC Comptroller Brad Lander, Divya Mankikar, Global Head of ESG Market Engagement at S&P Global, Yves Noel, SVP of Strategy and Corporate Development at the NY Power Authority, and Nicolette Bartlett, CDP’s Chief Impact Officer, to name a few.
We must reach net-zero carbon emissions by 2050 and protect at least 30% of the planet's land and water by 2030 if we are to maintain a habitable planet, and the US Workshop shed light on the significant work that remains to be undertaken. In his morning keynote, Dr. Jeffrey Sachs urged industries and companies to exert pressure on governments to ramp up environmental action. Sachs emphasized the imperative of deep transformations within our systems, stressing that “national and local governments must create frameworks and policies that outline a path for businesses to take much-needed action.”
In the second keynote address of the day, Laurel Blatchford highlighted the inequitable distribution of climate crisis impacts, reminding us that justice, equity and resilience must be firmly interwoven into the fabric of global transitions. She emphasized the importance of ensuring that those “who sacrifice their time to keep our lights on are taken care of.” Similarly, Nidhi Krishen, representing the Office of Sustainability with the City of Philadelphia, shared the issues faced in addressing the energy burden while safeguarding the financial well-being of low and middle-income tenants.
The recurring messages of the US Workshop resonate clearly: amidst rising critiques of ESG, and as the sustainability space shifts and evolves in complexity, we all must push past distractions to achieve our shared mission of building a thriving economy in a sustainable, equitable future. Addressing nature will be key; expanding our scale and work, CDP aims to support the full range of planetary boundaries and earth systems. In the coming months, businesses, financial institutions and public sector actors must create and execute credible transition plans, account for nature, gather and report data spanning the entire value chain, fund and build equitable, sustainable infrastructure projects and prepare for enhanced disclosure through a diverse range of taxonomies, frameworks and emerging regulations.
CDP is here to guide and support them through every step of the transition, With nearly 20,000 organizations disclosing with us last year, CDP enables businesses and governments to deliver on critical aspects of their environmental leadership journeys.
And although we are in the midst of a great transformation that will pave the way for better disclosure and transparency, the 2023 US Workshop was a welcome reminder that many like-minded policymakers, leaders and rising professionals in the environmental field are demonstrating unwavering dedication to ignite positive change toward a more sustainable and prosperous world.