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What is the CDP Carbon Disclosure Project?
CDP (ex Carbon Disclosure Project) is an independent and non-commercial organization, which aims to provide in a transparent and standardized way information on climate impacts to investors, companies and governments.
Through CDP And his questionnaires, companies, cities and countries communicate data and information on their environmental impact.
The programs supported by CDP are 4:
- Climate Change Program;
- Water Program;
- Forests Program;
- Supply Chain Program.
In addition to these, there is a specific program dedicated to cities and regions, the Cities, States and Regions Program.
For each program, there are questionnaires which businesses, cities or government bodies are required to fill in to provide the requested information.
The platform is accessible approximately between February and June of each year. The purpose is to create a database with a common base of information, which will be evaluated starting from the month of July and will be useful for investors and governments to make strategic decisions.
The transmission of data is voluntary: you can choose freely whether join CDP And if Renew the ranking every year.
In addition to a critical review, CDP issues tips on how to act in a sustainable way, helping cities and companies to take actions to mitigate their environmental impact.
Companies also obtain a rating (CDP score) based on the actions they have taken and the data they have provided.
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Carbon Disclosure Project: the 4 main changes of 2024
For 2024, the CDP has introduced important upgrades in its questionnaires and environmental reporting systems.
Here is the list of the 4 main changes:
- introduction of the integrated questionnaire, which brings together the themes of climate, forests and water management, in order to simplify the disclosure process and encourage more holistic and coordinated environmental management;
- new focus on plastics-related activities, extending the survey not only to production and marketing, but also to the management of waste and water;
- introduction of a questionnaire dedicated to small and medium-sized enterprises (PMI), designed to be more accessible and adapted to the needs of these realities, facilitating their participation in the CDP's global disclosure system;
- implementation of a new CDP platform available from April 2024, which promises to improve the efficiency of the disclosure process.
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What is the CDP rating for
CDP is widely adopted, especially by large companies globally, so much so that it holds The largest database on corporate greenhouse gas emissions and on the strategies implemented to combat climate change.
THECDP objective is to increase transparency regarding environmental impact, and to help investors and financial entities to make investment and partnership decisions, based on CDP score obtained by companies.
Voluntarily sending your data to the organization means, therefore, investing in transparency of communications. The calculation activities, reduction and compensation of CO₂ emissions are decidedly valued, if communicated in a transparent manner to customers, partners and investors.
In addition, The score obtained by CDP is useful for:
- identify cost-savings strategies and investment opportunities for both the company and customers;
- attract investors thanks to credible reports and results, which improve stakeholder confidence;
- keep the company up to date with regulations and reporting requirements;
- Increase the B Corp score to obtain certification.
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CDP questionnaire: how to obtain the CDP score
To begin with, you can go to the CDP website: the organization proposes questionnaires to companies that ask to obtain their score.
The questionnaires concern climate change, water safety and forests: a series of questions invites companies to indicate the actions taken to combat Global Warming, Calculate your carbon footprint and other parameters useful to understand theimpact of productive activities on the planet.
Once the questionnaires have been filled out, CDP analysts offer a rDetailed report And a scoring to be assigned to the company: CDP score.
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Increase your CDP score with Up2You
Calculating their carbon footprint and embarking on a structured sustainability path helps companies to improve your CDP score, and to be aligned with international sustainability reporting standards.
Up2You, thanks to proprietary technology and the experience of its team, can help your company to undertake an effective climate path and to improve the CDP score.
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Improving the CDP rating: the Italtel case study
Italtel is a leading company in the field of advanced technologies, specialized in the design and production of innovative solutions for industry and automation.
The company, since 2021, undergoes the CDP Climate Change questionnaire, and contacted us to be supported in a strategy that would allow her to Improve your score in the questionnaire relating to 2023.
Through a Gap analysis, we have analyzed the results of 2022 CDP questionnaire and identified the best practices in the sector, so as to understand what the company's strengths were and those on which to work to improve CDP rating.
Thanks to the work done, Italtel has managed to significantly improve its rating, going from C unto B in the CDP score, with excellent results in different categories, such as A obtained under the heading 'Risk management processes'.
Do you want to improve your CDP rating? Contact us and find out how we can help your company!
