CDP to add 10,000 firms’ climate data to Net Zero Data Public Utility

Environmental disclosure platform CDP is set to make the climate data of more than 10,000 companies publicly accessible through its partnership with the Net Zero Data Public Utility (NZDPU) – a global database of climate information.

NZDPU was launched last year at COP28 by the Climate Data Steering Committee, which was created in 2022 to address challenges around the availability, comparability and transparency of climate data worldwide.

A proof of concept database including data shared by CDP on 400 companies was showcased in Dubai, after which a consultation was opened for stakeholders to provide feedback until March 2024.

Now, NZDPU and CDP have expanded their partnership to add “core climate data” from over 10,000 companies representing over 50% of global market capitalisation – and nearly half the amount of firms that reported through the climate disclosure platform last year – to the NZDPU as it moves from proof of concept to production.

‘Core climate data’ freely available for the public

The data to be shared in the utility will include GHG emissions and emissions reduction targets, as well as detailed sector-specific data from companies disclosing data publicly through CDP.

Simon Stiell, Executive Secretary of the United Nations Framework Convention on Climate Change, said: “Access to climate data in a centralised, comparable format is increasingly important as more jurisdictions implement varying reporting standards. The partnership between CDP and the NZDPU to expand the corporate data freely available for the public good will allow companies and regulators to more accurately assess not only their own progress toward meeting the goals of the Paris Agreement throughout their value chain, but also the progress of those they want to do business with.”

Streamlining climate reporting

The availability of climate-related data is a major obstacle in the transition to a net zero world, and the central database offered by the NZDPU aims to help stakeholders including investors and policymakers have more visibility over the climate impact of companies.

The two organisations will also continue to work together to streamline reporting, avoid duplication, and increase access to consistent, comparable corporate climate data globally.

“CDP is proud to advance our partnership with the NZDPU and to serve as its foundational global data provider. Our data has shaped markets for nearly 25 years, but ensuring it is freely available for public good is critical, open to access for any user – from consumer to government – to drive positive decisions for our planet. This collaboration demonstrates the efficient ecosystem that we can build by working together to streamline reporting and avoiding duplication. Companies can disclose through CDP to provide core climate data to the NZDPU. A new use case and access point, and no additional reporting,” said CDP CEO Sherry Madera.

More than 700 financial institutions and 330 large corporations use CDP to request data from listed and private firms, and in 2023, over 23,000 companies accounting for 66% of global market cap disclosed climate data through CDP.