defining issues | may 2024
Significant enhancements made to CDP reporting framework and platform aim to drive corporate environmental action.
CDP’s 2024 corporate questionnaire aligns with the International Sustainability Standards Board (ISSB) IFRS S2 climate standard. It also combines three previous questionnaires – climate change, forests and water security. The 2024 reporting window closes on October 2, 2024.
The 2024 questionnaire aligns with the disclosure requirements of IFRS S2 climate standard. As a result, the questionnaire includes some new and some updated questions, as well as guidance to help companies understand where and how they can provide information that aligns with IFRS S2.
The climate change, forests and water security questionnaires have been integrated into one. As a result, CDP has incorporated environmental issues like biodiversity, plastics and land more systematically and eliminated duplicate governance and strategy questions.
In 2024 companies will continue to be scored separately on climate change, forests and water security.
Questions related to plastics and biodiversity will not be scored in 2024 with CDP hoping that more companies will submit disclosures in these areas. However, all corporate disclosures, except for those for small and medium enterprises (SMEs) and public authorities, will include some basic questions on plastics and biodiversity.
CDP has introduced a dedicated questionnaire for SMEs.
CDP has transformed its reporting platform, CDP Portal, with an improved interface and workflow. The objective is for companies to better measure, understand, act and report on their environmental impact.
CDP previously announced it would work with the European Financial Reporting Advisory Group (EFRAG) to maximize alignment with the European Sustainability Reporting Standards (ESRSs) on environmental topics. That work is ongoing.
In addition, CDP plans to align with the Taskforce on Nature-related Financial Disclosures (TNFD) framework.
Resource
Handbook: GHG emissions reporting
Our guide explains the measurement and reporting of GHG emissions through the lens of the Greenhouse Gas Protocol.
Resource
California imposes climate disclosures and assurance
Updated: The ESG reporting landscape expands with the addition of broad reaching state-level climate disclosure rules.
Resource
Understanding the SEC’s climate rule
Top 10 questions on the final rules – covering scope, Reg S-X and Reg S-K requirements, effective dates and more.
Receive the latest financial reporting and accounting updates with our newsletters and more delivered to your inbox.
Access our accounting research website for additional resources for your financial reporting needs.