How CDP Completes its Own Disclosures with Watershed
Carbon accounting and disclosure has become a business necessity.
In 2000, CDP was founded to support making carbon disclosures a widespread business practice and now has more than 18,000 organisations disclosing environmental data to it.
The NGO has now grown to have offices around the world, so how can it measure and report its own environmental impact?
Enter Watershed, an enterprise sustainability platform.
Using Watershed, CDP completed its most comprehensive emissions reporting so far and its own CDP disclosure within just six weeks.
"Sustainability progress relies on robust data. Watershed's measurement process was a critical factor in our decision to use it for our own reporting,” says Daniel Turner, Director of Reporting and Operations at CDP.
About CDP
CDP pioneered using capital markets and corporate procurement to motivate companies to disclose their environmental impacts.
It works with more than 680 financial institutions with over US$130tn in assets and received disclosures from nearly 20,000 organisations in 2022.
CDP says these companies are worth half of total global market capitalisation, alongside more than 1,100 cities, states and regions.
The NGO holds the largest environmental database in the world and its scores are used widely to drive investment and procurement decisions.
It is a founding member of the Science Based Targets initiative (SBTi), We Mean Business Coalition, The Investor Agenda and the Net Zero Asset Managers initiative.
“We are honoured that CDP will be using Watershed to report to CDP—and execute on their leading-by-example sustainability program,” says Taylor Francis, Co-Founder of Watershed.
“The impact CDP has had on advancing standards and enabling companies and the public sector to develop strategies for decarbonisation is unmistakable. They are a prime example of how transparency and data can ignite real momentum on decarbonisation.”
Watershed’s partnership with CDP coincides with the launch of a new feature that enables companies to transfer their data directly to the CDP portal.
This streamlines the process of submitting to CDP by reducing manual entry and the risk for potential errors.
Meet Watershed
Watershed is an enterprise sustainability platform that can be used to measure, report and take action on carbon emissions.
The company has offices in Europe and North America and supports companies around the world.
Companies that use Watershed include DP World, BlackRock, Schneider Electric and FedEx.
Neil Jorgensen, Global Head of Stewardship at Block, says: "Watershed allowed Block to build a powerful and deeply specific climate action program literally from scratch.
"They move fast and with precision which has been a perfect alliance. I consider them our long-term, end-to-end sustainability partners.”
Watershed is built on CEDA, an emissions factor database with 60,000 emissions factors from 149 countries globally.
Most commonly used emissions factor databases aren’t globally representative – Watershed found that only 11% of companies reporting to CDP in the last cycle used multi-regional emissions factor datasets.
Watershed is built as an end-to-end platform with audited methodologies to standardise and transform business data into sustainability data.
It contains 150 error checks to prevent common, known mistakes.
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