The Carbon Disclosure Project and its partners commit to build a fully integrated global corporate emissions database, which will deliver investment and regulatory grade data and act as the global information hub, bridging the gap between multinational corporations and governments.
CDP decided one year ago that in order to deliver the effective and fully integrated global corporate emissions database required by global investors and governments, in order to redirect capital flows to the solutions to climate change, CDP needed to work with major partners in order to ensure delivery of such a system.
As such, CDP has been in discussions with Accenture, Microsoft, and SAP for nine months to upgrade the current CDP system to enable the full collection of global corporate climate change data, which will drill down to business division and installation level to deliver high quality, comparable data to governments, investors, and companies. This new system will deliver the granularity of climate change and greenhouse gas emissions data required to ensure we are equipped, post Copenhagen, with the full dataset, so that regulators can create the right national and international frameworks to drive reductions in line with scientific requirements.
This Global Climate Change Databank system is being built through the support and investment of Accenture, Microsoft, and SAP. Once fully operational, the system will be designed to deliver:
1. Increased corporate action on climate change, through improved granular measurement.
2. A ready-to-go reporting mechanism for governments looking to create a national reporting system.
3. A global, data delivery system which acts as a central clearing house for climate change data to assist with regulation, both nationally and internationally.
4. A system which links globally what is being reported at national levels and has integration ability to feed data into and pull data from national reporting systems.
5. Drive increased awareness of corporate behaviour on climate change within individual countries and allow international comparison.
6. Reduced corporate reporting burden and drive consistency by streamlining different processes and tailoring reporting process for different requirements.
7. Greater consistency and comparability in corporate climate change data reporting through verification.
8. Maximum transparency though an audit trail for input of data and verification.
This is a five to ten year program, which will be delivered in phases throughout the five year partnership.
In the first phase of the program, to take place in 2010, CDP and partners commit to deliver:
- Standardized global reporting system available for reporting to all companies globally.
- A range of methods to support the reporting process, including: tools, guidance and benchmarking.
- Provide the opportunity to companies subject to regulatory systems, including the UK and US, to submit trial reports ahead of regulation, so as to help prepare them for mandatory requirements.
Later phases will aim to deliver:
- Off-the-shelf reporting systems for governments;
- Linkages to regulatory reporting systems, so that there is one global hub for carbon data;
- Significant growth in granularity and volume of companies reporting.
In order to cut greenhouse gas emissions globally (in line with IPCC scientific recommendations) by at least 80 percent in developed economies by 2050, it is vital to have a full picture of the current emissions landscape, including how much companies are emitting, and then, in turn, how much they are reducing their emissions. This information will be key to governmental, corporate, and investment leaders in ensuring we reduce emissions sufficiently to avoid dangerous climate change. The Carbon Disclosure Project and its partners commit to build the global corporate emissions database, which will deliver investment and regulatory grade data and act as the global information hub, bridging the gap between multinational corporations and governments.
The Carbon Disclosure Project (CDP) is an independent not-for-profit organization holding the largest database of company-reported climate change information in the world. CDP gathers data through its annual Information Requests on behalf of institutional investors, purchasing organizations, and government bodies. Since its formation in 2000, CDP has become the gold standard for carbon disclosure methodology and process, providing essential climate change data to the global marketplace. To date, Investor CDP represents 475 institutional investors, with combined assets under management in excess of trillion. More than 2,500 major corporations around the globe report their greenhouse gas emissions, and the risks and opportunities posed by climate change through CDP. An increasing number of corporations are also using CDP to gather information across their supply chains.
As such, CDP is in a unique position to build the global system to collect investment and regulatory grade data from companies all over the world and to bridge the gap globally between national mandatory systems, such that the international community has accurate data on the carbon emissions from companies all over the world.
Through this commitment, CDP will strive to complement and build upon work of other organizations, in particular building upon its relationship with the WRI/WBCSD team responsible for creating the GHG Protocol. Having already promoted the protocol around the world through CDP's existing work, this new commitment will include the creation of a prescriptive reporting protocol following the principles proposed by the Climate Disclosure Standards Board. This commitment builds on the GHG Protocol to ensure levels of accounting rigor suitable for the inclusion of climate change information in company filings.
CDP is seeking financial assistance, media and marketing opportunities. CDP would like to hear from organizations that are able to support the expansion of its work to additional countries, particularly in major developing economies; and from organizations able to promote the use of the platform to companies, cities and governments .CDP is interested in partnering with: National, regional and local governments (e.g. China, India, Russia, and Brazil), and Universities and research institutions that can accelerate solutions to climate change.
CDP offers best practice information and standards setting for climate change, water and forestry management. CDP holds the largest database of climate change and water data in the world. This data informs policymakers and the marketplace about how companies, cities and governments are positioned for the transition to a more sustainable economy.