The detailed report on Turkey will be published in AprilThe detailed report on Turkey will be published in AprilIn 2023, 23,000+ companies disclosed their environmental performance data to CDP. This factsheet presents an overview of the key findings and emerging trends from this data, showcasing CDP's expanding coverage and growth across regions, markets, and the key environmental themes of climate change, forests, water security, biodiversity, and now, plastics.

With the number of companies disclosing environmental information growing annually, CDP's role as an accountability mechanism is strengthened. This factsheet uses the wealth of data that CDP holds to provide transparency and insight into the evolving landscape of environmental disclosures.
 

  • Wide gaps persist between disclosures on climate and nature – only 38% of companies are disclosing information beyond climate. Transparency across all nature-related impacts, risks and opportunities is imperative.
     

  • 50-75% of climate, forest and water disclosers reported environmental opportunities – cost to manage climate, forest and water-related risks are lower than the potential financial impact of risks occurring.
     

  • Only 10% of all disclosers have set targets for renewable energy consumption, two-thirds of which disclosed objectives to achieve 90-100% renewable energy consumption.
     

  • Corporate ambition to phase out fossil fuel is lacking – financial institutions must lead directing capital toward renewable energy to increase portfolio and economic resilience.

Key insights from the CDP 2023 disclosures:

 

  • Disclosure numbers increased in 2023 by 24% - marking a 140%+ increase on disclosures in 2020 – ~ 8,000 companies started their journey by disclosing for the first time in 2023.
     
  • This year, 63% of Climate disclosers, 73% of forest disclosers, and 50% of water disclosers reported environmental opportunities with the potential for substantive financial or strategic impact on their business – cost to manage risks reported as lower than the potential financial impact of risks materializing.
     
  • 2023 disclosure from 575 financial institutions (FIs) revealed that an increasing number of FIs are beginning to measure their portfolio impacts across themes – the number of FIs that disclosed measuring their portfolio impact on climate rose from 66% in 2022 to 72% in 2023.
     
  • In 2023, 637 companies across the sectors critical to the energy transition – power generation, fossil fuels and metallic mineral mining – were requested to disclose their water risks, impacts and opportunities. Of these, 180 companies disclosed.
     
  • At 21%, the response rate for companies operating in the fossil fuel sector was staggeringly low, despite the critical impact this sector has on water availability and quantity.

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