CDP (formerly Carbon Disclosure Project) is a global non-profit environmental reporting organization that runs the world’s largest platform for corporate and public-sector environmental disclosure. Founded in 2000, CDP’s mission is to drive organizations and governments to measure and report on climate change and other ecological impacts, thereby encouraging action. Each year, CDP invites organizations to respond to standardized questionnaires about their environmental management and performance.
Participation has grown exponentially: over 22,100 organizations disclosed environmental data through CDP in 2025. These organizations represent more than half of global market capitalization, including some of the world's largest and most impactful organizations. Meanwhile, over 1,000 cities, states, and regions (representing over one billion people) disclosed in 2025. The insights that flow from this data are supporting subnational governments in building climate-resilient cities and regions and can lead to substantial economic co-benefits.
This vast database is used by investors, policymakers, and industry peers to gauge sustainability progress.
“What was once a niche initiative is now mainstream,” says Consultant Shanayia Munoz, specializing in environmental, social, and governance (ESG) reporting.“CDP has become the gold standard for environmental reporting. Participating sends a message to investors and customers that your organization is serious about sustainability.”
Who is CDP for?
CDP is used by a broad range of participants. Organizations of all sizes across sectors form the largest group, disclosing information on their carbon footprint, climate strategies, water use, and more. Cities, states, and regions also report through CDP. For example, major cities like New York, London, and Tokyo publicly share their climate action plans and emissions data via CDP’s platform. In addition, financial institutions (such as banks, asset managers, and insurers) have begun disclosing their financed emissions and climate risks through a specialized CDP questionnaire.
Notably, CDP is supported by hundreds of institutional investors, who collectively manage tens of trillions of dollars. Each year, these investors request climate disclosure from organizations through CDP, using the data to inform investment decisions. In essence, CDP serves both the organizations disclosing data and the stakeholders (investors, customers, regulators) who rely on that data.
What information does CDP collect?
In 2024, CDP integrated its previously separate questionnaires on climate change, forests, and water security into a single consolidated framework, enabling more holistic and balanced reporting. Climate change is the core theme and is always required, while organizations may also report on forests and water security voluntarily or based on their sector or stakeholder requests. Additional unscored themes such as plastics, biodiversity, and oceans can be opted into voluntarily.
Shared sections such as Governance, Business Strategy, and Risks and Opportunities apply across all relevant themes, with dedicated sub-sections providing more detailed, theme-specific questions. Organizations report detailed metrics and qualitative information across these areas. For climate change, CDP collects data on greenhouse gas (GHG) emissions (scopes 1, 2, and 3), energy consumption, risks and opportunities, and governance (e.g., board oversight of environmental issues). Note that risks and opportunities, as well as governance disclosures, are expected across all themes an organization reports on, not just climate change.
The forests section probes exposure to commodities that drive deforestation (such as timber, palm oil, soy, and cattle products, and, as of 2026, cocoa, coffee, and rubber, which are now scored commodities) and what organizations are doing to manage those risks. The water security section asks about water usage and withdrawal from water-stressed regions, water-related risks, impacts and dependencies, and strategies to reduce water impact.
CDP’s platform also supports a supply chain program: any organization that participates can request that their suppliers disclose via CDP, extending environmental transparency throughout value chains. This means any company can use CDP to gather standardized climate and environmental data from hundreds of its suppliers. The result is a holistic picture of environmental impact up and down the supply chain.
How does CDP scoring work?
After organizations submit the annual questionnaire, CDP evaluates and scores all organizations that submit by the scored response deadline (the week of September 14). Submissions received after that date are not scored.
Scores are determined via two mechanisms:
- Scoring methodology, which assigns points for each question.
- Essential criteria, which set minimum requirements for each scoring band (Awareness, Management, Leadership, and A List). All essential criteria for a given band must be met before an organization can achieve that score level.
CDP scoring is designed to assess both the quality of disclosure and the level of environmental performance. Scores are given on an A-to-D scale. An A is the highest score, indicating leadership in transparency and environmental action, while scores in the B and C range indicate progressing levels of management and awareness of environmental issues.
For instance, a company that measures its emissions and has climate strategies might score in the B range (Management band), whereas a company just beginning to disclose its impacts could be in the C or D range (Awareness or Disclosure bands). Only the top performers earn an “A” score, gaining a spot on CDP’s prestigious annual “A List” of climate leaders. Organizations that do not disclose or provide insufficient information typically receive an “F” (failing to disclose).
“CDP scoring provides a roadmap for improvement,” notes Munoz. “Even if a company scores a C or B, the feedback pinpoints gaps. We see clients using their CDP scores to identify weaknesses in their sustainability programs and drive internal change.”
Why CDP disclosure matters
CDP has become a cornerstone of climate and sustainability reporting for several reasons, delivering value to multiple stakeholders:
- Investors: Investors view CDP data as a decision-making tool. In 2023, over 680 financial institutions with more than $130 trillion in combined assets backed CDP’s disclosure requests. These investors use CDP reports to evaluate organizations’ environmental risks and progress.
- Regulators: Governments and regulators are increasingly moving toward mandatory climate disclosure rules. For example, the European Union’s (EU) new Corporate Sustainability Reporting Directive (CSRD) and the United Kingdom’s (UK) requirements for Task Force on Climate-related Financial Disclosure (TCFD)-aligned reporting are raising the bar for transparency. In the US, California’s landmark climate disclosure laws Senate Bill (SB) 253 (Climate Corporate Data Accountability Act) and SB 261 (Climate-Related Financial Risk Act) now require large companies operating in California to publicly disclose GHG emissions and climate-related financial risks. CDP’s framework helps organizations get ahead of these mandates and comply with emerging regulations in different jurisdictions.
- Corporate strategy: The process of gathering data for CDP can uncover inefficiencies (for instance, energy, waste, or supply-chain vulnerabilities) and highlight opportunities for innovation (such as developing low-carbon products). Many organizations use CDP results to benchmark against industry peers and identify best practices.
- Business efficiency and competitiveness: In 2024 alone, organizations reported:
- Saving over $13 billion in costs from acting on their scope 3 emissions with $165 billion on the horizon at a cost of just $94 billion to realize.
- Investing in adaptation could deliver returns of $2 to $19 for every $1 spent.
- Organizations on STOXX’s (CDP) A List-based index have outperformed their benchmark by nearly 6% per year for the past decade.
- Organizations disclosing through CDP have identified over $16 trillion in climate and nature opportunities.
- The world's largest organizations have doubled the financial opportunities they see from climate initiatives in the past five years to $5 trillion.
- Organizations with credible climate transition plans are planning to align between 35% and 42% of their capital expenditure by 2030 to achieve them.
- 13% of European organizations now report that over half their revenue is generated from low-carbon products.
- 83% of organizations report research and development (R&D) investment in low-carbon products and services. Products featuring sustainability attributes can achieve a revenue increase up to 25% over products without such emphasis.
“When organizations take CDP reporting seriously, they’re gaining valuable insight,” says Munoz. “The disclosures often reveal hidden risks and opportunities. That insight helps integrate sustainability into core business strategy, rather than treating it as a sidebar issue.”
Alignment with global frameworks and standards
A key advantage of CDP is that it continuously aligns its questionnaire with leading sustainability reporting frameworks, standards, and regulations. This helps organizations streamline their disclosure efforts and meet multiple requirements in one place. CDP’s current framework is aligned with International Financial Reporting Standards (IFRS) S2 (International Sustainability Standards Board [ISSB] climate standard, which serves as its foundational baseline); European Sustainability Reporting Standards (ESRS) under the EU’s CSRD; TCFD recommendations (now incorporated into IFRS S1 & S2); Taskforce on Nature-related Financial Disclosures (TNFD); Global Reporting Initiative (GRI) standards; the GHG Protocol; and Science-Based Targets initiative (SBTi)/Science-Based Targets Network (SBTN) target-setting frameworks. This means organizations responding to CDP are simultaneously advancing alignment with the most widely recognized global reporting requirements.
CDP has already aligned its platform with the ISSB climate disclosure standards (IFRS S2), which serve as its foundational baseline. IFRS S1 and S2 fully incorporated the TCFD recommendations in 2023, so CDP respondents are simultaneously meeting TCFD-aligned requirements. CDP’s focus on water and forests also deepens alignment with the TNFD, which guides nature-related risk reporting and is increasingly expected by investors and regulators.
“For organizations feeling overwhelmed by the alphabet soup of ESG frameworks, CDP can act as a one-stop solution,” observes Munoz. “By aligning with IFRS S2 (which now incorporates TCFD) and the broader suite of sustainability frameworks, CDP simplifies the process, meaning it is one disclosure to satisfy many stakeholders and regulatory demand.”
Key CDP disclosure deadlines
The CDP reporting cycle follows an annual timetable. Each year, CDP issues its disclosure request and opens its Online Response System in April. Organizations typically work on data collection and internal approvals in spring/summer, with the submission deadline usually falling in the middle of September.
CDP disclosure 2026 timeline
| Questionnaire release | Week of April 20 |
| Response window opens | Week of June 15 |
| Scored response deadline | Week of September 14 |
| Final response deadline (not scored) | Week of October 26 |
| Scores released | Week of November 30 |
Submitting by this deadline ensures the response will be evaluated and scored in that year’s cycle. After submissions close, CDP reviews and validates responses, with scores released the week of November 30. Public announcements of high performers (like the annual A List) also occur around that time. It’s important to note that specific dates can shift slightly year to year, so reporters should check CDP’s official communications for each cycle. Nonetheless, the June through September disclosure window has remained a consistent pattern.
