CDP comment on the launch of the UK Transition plan taskforce’s Disclosure framework

 CDP is proud to be part of the UK Transition Plan Taskforce and to have supported the development of the disclosure framework for companies and financial institutions launched today. This framework will aid listed UK companies and financial institutions in developing and disclosing credible transition plans.

Transition plans are important in keeping organizations transparent and accountable, and credible disclosure is a vital step to keeping these plans on track. Disclosing through CDP allows organizations to manage, measure and structure their reporting of transition plans. As the world’s leading, environmental disclosure system, CDP is an essential mechanism to help companies with the introduction of mandatory disclosure on climate transition plans.

In 2021, 353 UK companies disclosed through CDP that they were developing a transition plan, and we hope to see this number increase in 2022 and beyond as we continue to support the disclosure framework.

ENDS

About CDP

CDP is a global non-profit that runs the world’s environmental disclosure system for companies, cities, states and regions. Founded in 2000 and working with more than 680 financial institutions with over $130 trillion in assets, CDP pioneered using capital markets and corporate procurement to motivate companies to disclose their environmental impacts, and to reduce greenhouse gas emissions, safeguard water resources and protect forests. Nearly 20,000 organizations around the world disclosed data through CDP in 2022, including more than 18,700 companies worth half of global market capitalization, and over 1,100 cities, states and regions. Fully TCFD aligned, CDP holds the largest environmental database in the world, and CDP scores are widely used to drive investment and procurement decisions towards a zero carbon, sustainable and resilient economy. CDP is a founding member of the Science Based Targets initiative, We Mean Business Coalition, The Investor Agenda and the Net Zero Asset Managers initiative. Visit cdp.net