Apparel among worst performers in environmental disclosure: CDP

Moreover, a paltry 1 per cent (135) of the companies reported through the key indicators.

CDP is a global non-profit that runs the world’s environmental disclosure system for companies, cities, states and regions.

Those industries arguably facing the most scrutiny—namely financial services, power and fossil fuels—have the highest rates of climate transition plan disclosure, even though only 5 per cent of organisations in each of these sectors reported against the 24 key indicators, CDP said in a release.

The report also highlights investment trends, revealing that only 45 per cent of companies disclose all details of their investment in low-carbon research and development. Power and infrastructure had strong disclosure against this average, with 66 per cent and 59 per cent of companies disclosing respectively.

Notable sectors with weak disclosure were transportation services (41 per cent) and manufacturing (37 per cent), inferring that companies are not investing in enough innovation to tackle the climate crisis.

According to The Climate Transparency 2021 report by CDP, the G20 is responsible for approximately 75 per cent of greenhouse gas (GHG) emissions, but more work is needed as only 4 per cent of organisations in these countries are disclosing to all the key indicators.

Of the 117 countries whose companies disclosed in 2021, Spain, France and Japan had the highest proportion of organizations disclosing to all the key indicators, yet at only 4 per cent, 3 per cent and 2 per cent respectively. Indonesia, Saudi Arabia, Argentina and China had the lowest numbers of disclosing companies.

Fibre2Fashion News Desk (DS)