CDP and EFRAG have achieved extensive commonality between the CDP questionnaire and the EU Sustainability Reporting Standard.
This collaboration marks a pivotal advancement towards their mutual objectives of enhancing the environmental data ecosystem’s efficiency.
The interoperability between the CDP’s questionnaire and ESRS’s climate standard (ESRS E1) promises significant benefits for companies engaging in both reporting frameworks. Organizations that report to ESRS E1 will experience a more streamlined process when completing CDP disclosures. Conversely, companies that disclose through CDP will find themselves better prepared to meet the ESRS E1 reporting requirements. This synergy is anticipated to be detailed in a comprehensive mapping set to be published early next year, which will further aid companies ahead of the 2025 CDP disclosure cycle.
As a principal ESRS market adoption partner, CDP’s role is crucial in promoting the uptake of these standards globally. With 90% of companies listed on European stock markets already utilizing CDP for their environmental disclosures, the platform is set to become a key avenue for accessing data aligned with ESRS standards.
CDP CEO Sherry Madera highlighted the ongoing evolution of their disclosure system to align with market needs, emphasizing the philosophy of “write once, use many.” Madera noted, “By collaborating closely with standard setters like EFRAG, we’re working towards a more efficient global environmental disclosure ecosystem that benefits both reporting organizations and data users alike. Our valued partnership with EFRAG is rooted in our shared goals of making environmental disclosure more efficient and valuable.”
Patrick de Cambourg, Chair of the EFRAG SRB, also spoke on the collaboration: “Our mission at EFRAG is, in line with the CSRD ambition, to bring a critical contribution to the development of quality and accessible sustainability-related data to foster the sustainable growth of businesses as well as transparency and accountability vis-à-vis all stakeholders. Our ongoing work on datapoint mapping is a major step forward since it is designed to ultimately align to the maximum extent possible the CDP questionnaire with the ESRS disclosures in order for the users of the CDP platform to benefit from a straightforward digital reporting mechanism.”
This partnership includes several key initiatives aimed at reducing the reporting burden for companies while supporting global organizations in implementing the Corporate Sustainability Reporting Directive (CSRD). Moving forward, CDP will deliver insights on ESRS-aligned response data to the market and explore further alignment of its questionnaire with ESRS E1 in 2025.
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