SBC Blog 2023 CDP Reporting Changes - What You Need to Know

2022 was a landmark year for corporate environmental reporting. With mandatory disclosure just over the horizon, leading companies are already using reporting to drive progress and show impact, unlocking a variety of business benefits along the way. Last year, a record-breaking 18,700+ companies disclosed through CDP, the world's leading environmental reporting platform, representing half of global market capitalization.CDP is quickly becoming the unofficial "scoring arm" of today's most rigorous frameworks, such as the Task Force on Climate-Related Financial Disclosures (TCFD) and more recently the International Sustainability Standards Board (ISSB). Late last year, CDP announced it would integrate the ISSB's Climate-Related Disclosures Standard into its platform by 2024. What's more, as part of its Federal Supplier Climate Disclosure Rule, the US Government will now require major federal suppliers to disclose climate impacts and risks through CDP.All this to say, CDP will only gain relevance in coming years. Looking to boost your CDP score in 2023 or reporting for the first time? In its ongoing effort to increase rigor year-over-year, CDP just released its new climate, water security, and forests questionnaires. Read on to learn about the changes you should be aware of.