CDP and XBRL partner on digital sustainability disclosure

CDP, the not-for-profit which runs the global environmental disclosure system for companies, cities, states and regions, and XBRL International, which provides the digital language for reporting, have announced a partnership aimed at accelerating digital sustainability disclosure globally.

As part of the link-up, the organisations will collaborate to expand and enhance CDP’s digital capacity and data collection activities, and embed XBRL best practices into CDP’s global environmental disclosure system.

The partnership follows CDP’s announcement that it will integrate the IFRS S2 climate disclosure standard into its disclosure system in 2024, allowing companies to disclose against it from next year. CDP has pledged to align its questionnaire with the IFRS S2 climate standard from 2024 and has signalled its intention to the same with the forthcoming SEC rule as well as the European sustainability reporting standards, supporting companies to prepare for future mandatory reporting against these standards.

Nicolette Bartlett, chief impact officer at CDP, said: “This landmark partnership is critical to achieving our shared mission of enhancing corporate transparency and accountability. It will be essential to facilitating the continuous tracking and sharing of robust data that can be used to inform sustainable decision-making across the global economy, ensuring data is easily accessible and understandable across regions and timeframes.”

John Turner, CEO of XBRL International, added: “At XBRL International we believe this initiative is both timely and vitally important, and we are excited to be working together with the CDP team. Working to make sustainability information flow seamlessly through global information supply chains is a critical element in expanding trust, and improving access to finance worldwide.”

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