English 
Spanish 
French 
Introduction:
CDP and EFRAG are teaming up to accelerate the adoption of European Sustainability Reporting Standards (ESRS). These standards, endorsed by the European Commission in July 2023. With EFRAG providing technical expertise, CDP will align its disclosure system with ESRS, offering webinars and guidance materials for over 23,000 companies. ESRS applies to around 50,000 businesses from January 2024, this collaboration aims to enhance global environmental reporting, impacting companies beyond the EU.
State of play
Furthermore, the Environmental and Social Reporting System (ESRS) addresses a spectrum of environmental issues, including climate change (E1), pollution (E2), water resources (E3), biodiversity (E4), and circular economy (E5), necessitating thorough environmental reporting.
ESRS adopts a dual materiality approach, in harmony with global standards like IFRS S2 and GRI. This approach obliges companies to report on both operational and societal impacts. Additionally, the Carbon Disclosure Project (CDP), a pivotal player in this realm, already encompasses climate, forests, and water security, supplying crucial data for global organizations to assess and propel corporate environmental advancements.
CDP thoroughly assesses companies in crucial environmental areas: Climate Change, Forests, and Water Security. Ratings range from D to A. A “D” denotes meeting baseline disclosure requirements, while a “C” indicates environmental impact awareness. Progressing, a “B” signifies active measures in managing environmental footprint, and the peak, an “A,” is reserved for companies displaying exceptional leadership in environmental stewardship.
How to improve your CDP Rating:
Explore enhancements with CSE’s Certified Sustainability (ESG) Practitioner Program, Leadership Edition 2023, scheduled for December 7, 8 & 11. This program aims to empower C-suite executives and Sustainability ESG professionals to effectively implement or scale existing sustainability initiatives within their organizations.
Enhancing Sustainability Performance: A Quick Guide
- Align Emission Reduction Targets: Demonstrate commitment to addressing climate change by aligning targets with the Science Based Targets Initiative and the Paris Agreement. Implement strategies for a comprehensive net-zero plan and consider external reviews for transparency.
- Develop Climate Risk Management: Assess and disclose both physical and transition climate risks. Integrate these into existing risk management processes, gaining support from top-level executives. Implement mitigation strategies across business lines for a comprehensive approach.
Maximize Impact with CSE:
The Center for Sustainability and Excellence (CSE) is a global leader in maximizing social, economic, and environmental impact. With over 18 years of experience, CSE offers certified training and consulting services. Elevate your sustainability efforts with CSE’s Certified Sustainability (ESG) Practitioner Program, Leadership Edition 2023, on December 7,8 & 11. Empower C-suite executives and ESG professionals to implement upscale sustainability initiatives successfully.
