The Carbon Disclosure Project (CDP) is a not-for-profit charity that runs the global disclosure system for investors, companies, cities, states, and regions to manage their environmental impacts.
Paladino uses our expertise in the built environment to help businesses and organizations to establish ESG and CSR strategies; and then to report on results using reporting frameworks like CDP and GRESB.
CDP has developed the world’s most comprehensive collection of self-reported environmental data. The way it works is that CDP asks respondents for their environmental performance data specific to climate change, water, forests, and supply chain; as well as detailed analysis on critical environmental risks, opportunities, and impacts. Investors, business, and policy makers use the data to make decisions, manage risk, and capitalize on opportunities by evaluating your sustainability performance against global peers. Plus, a strong CDP score can have top line impact as investors increasingly place capital with clean economy companies.
The CDP reporting deadline for 2018 reporting was July 31st. If your organization is one of the 7000 global businesses that responded to CDP, then you have likely just completed the marathon task of pulling together your submission. And while it may seem like you can finally stop thinking about CDP now that you have made your submission, you will never have more time to improve next year’s score than you do right now.
You can start improving your 2019 CDP score today
In our experience working with corporations on CDP reporting submissions, there are a few best practices that can be deployed now to improve this year’s outcomes.
Every dollar that’s spent on carbon improvement should reduce operating costs, lower GHG, and improve your CDP scores! Get a jump on next year’s score by considering these actions:
- ASHRAE I and II energy audits on your owned property can reveal unnecessary fossil fuel use and associated Scope 1 emissions, and purchased energy for lights, computers, and HVAC that contributes to Scope 2 emissions.
- An audit of landlord energy buying methods can reveal opportunities for Energy Attribute Credits purchasing by your property managers. This can reduce the size of renewable purchases at the corporate level and Energy Attribute Credits keep the renewable power benefits local to the property.
- Get a handle on commuter-related and corporate travel emissions to right-size an offset project and keep offsets affordable (which helps when you seek approval from the C-suite).
- For major emitters (properties with an EUI greater than 100), consider installing real-time monitoring equipment to better manage energy demand. Wireless technology makes real-time monitoring an ever-increasingly cost-effective option.
- If you experienced a last-minute scramble this year, use that experience to improve next year’s planning effort. Create a work back schedule now while the feeling is fresh! Evaluate your tools, consultants, and reporting infrastructure to identify areas for improvement.
Collecting quality ESG data supports business decision making, improves cash flows, and helps manage stakeholder relationships. Communicating your sustainability efforts and actions gives important insight about the quality of the management team and its ability to tackle your company’s impact on the planet. All of this matters to investors, customers, and employees.
The clock on next year’s submission is already ticking, and the implications of your company’s CDP score extend to the topline, bottom line, and everything in between.
And of course, Paladino is here to help. Contact us at any time.
Want to learn more about corporate reporting? Here are some of our past articles on the topic:
- Are you ready for GRESB?
- GRESB Results show an uptick in adoption of sustainability benchmarking
- Which CSR reporting framework is right for your company