At COP29, CDP and EFRAG announced substantial interoperability between CDP's questionnaire and the European Sustainability Reporting Standards (ESRS). This collaboration aims to alleviate the compliance burden on companies while enhancing alignment with the Corporate Sustainability Reporting Directive (CSRD). CDP's CEO, Sherry Madera, emphasized the importance of a “write once, use many” approach, which facilitates a more efficient global environmental disclosure ecosystem.
The joint mapping revealed significant overlaps between the CDP questionnaire and ESRS climate standard (ESRS E1). This means that organizations adhering to ESRS E1 will find completing CDP disclosures simpler, and those already disclosing with CDP will be better prepared for ESRS E1 requirements. A detailed mapping document will be issued in early 2025 to assist companies during the upcoming disclosure cycle.
Patrick de Cambourg, chair of the EFRAG Sustainability Reporting Board, reaffirmed the partnership's goal to enhance data quality and accessibility for sustainable business growth. With over 90% of European listed firms using CDP for environmental reporting, this initiative marks a significant step towards unified sustainability disclosures.
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