Carbon Disclosure Project, representing a third of world’s capital, kicks off ‘disclosure season’

Initiative now has backing from 722 investors worth $87trn

The Carbon Disclosure Project (CDP) – kicking off its annual “disclosure season” – says it now has the backing of a third of the world’s invested capital in its efforts to get companies to disclose their carbon emissions.

The not-for-profit organisation now has the support of a record 722 investors with some $87trn (€64.7trn) of combined assets under management – up from last year’s 655 investor signatories and $78trn in assets.

The CDP says there has been strong growth in the number of investors asking listed companies to submit water and forest-related information through the CDP.

It comes as asset owners such as Norwegian mutual insurer and asset manager KLP have – albeit nervously – started to respond to the questionnaire. The CDP told Responsible Investor that of the 4,114 questionnaires submitted in 2012, about 14% (576) came from companies defined as being in the financials sector.Of those, 63 are from the Asset Management & Custody, Investment Banking & Brokerage and Diversified Capital Markets subsectors.

The CDP’s 2013 reporting cycle will see more than 80% of the world’s largest listed companies use its system for climate accountability. Requests will this year go to over 5,000 listed companies around the world.

New investor signatories range from Brazil’s Banco do Brasil Previdência to Taipei’s Cathay Financial Holdings and Fubon Financial Holdings. In addition, the CDP’s Carbon Action initiative will act on behalf of 190 investors ($18trn). The CDP’ water programme has also grown, with investor signatories now at 530 (€57trn).

Companies have until May 30 to report their emissions and emissions-reducing activities to the CDP. The deadline for water and forest information is June 27. The data will be collated in reports to be published this autumn.