One thing trust and sustainability professions have in common is a lot of acronyms! SASB, GRI, GHG, ESG, GDPR, COPPA, PII, DSAR, to name just a few. Do you know all of them? If not, never fear – this blog series has got you covered. With this post, we are kicking off a Trust Geek Glossary series that will explore common trust acronyms, what they mean, and key considerations for your business. The first part of this series will be looking at some common sustainability reporting frameworks, starting with the Carbon Disclosure Project (CDP). Read on to learn more (and find the answer key at the bottom)!
Founded in 2000, CDP, formerly the Carbon Disclosure Project, is an investor-led nonprofit focused on motivating companies, cities, and governments to disclose their environmental impacts and take action to reduce them. As a globally recognized reporting framework, it does this through annual questionnaires that organizations use to disclose sustainability information to their stakeholders through the CDP Online Response System (ORS). CDP also uses the data supplied to score organizations and measure progress and drive action on the following key areas:
Download the infographic for a side-by-side comparison of three major ESG reporting frameworks.
Companies are typically asked to disclose through CDP by their customers or investors, but they can also voluntarily submit responses through a self-selected company registration. The questionnaires are the same for all companies with the following exceptions:
After collecting the environmental data needed, companies respond to the questionnaire through CDP’s online reporting platform. The reporting period runs from April – July each year, and CDP provides guidance and workshops throughout the year to help organizations through the process. The annual reporting cycle typically follows this timeline:
CDP reporting framework infographic
The following infographic provides a quick overview of the CDP reporting framework: