LONDON, UK, Nov. 20, 2024 (GLOBE NEWSWIRE) -- CDP, the world’s only independent environmental disclosure platform, has worked with Watershed, an enterprise sustainability platform, to collect and analyse data for its own emissions reporting, including its annual CDP report. Nearly 25,000 companies worldwide disclosed environmental data via CDP in 2024.
Following a rigorous evaluation of its platform, CDP selected Watershed for its precise measurement approach and reliable data traceability. Leveraging Watershed’s platform, CDP completed its most comprehensive emissions reporting so far—as well as their 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," said Daniel Turner, Director of Reporting and Operations at CDP.
Sustainability data collection involves standardising large volumes of raw business activity, aligning it with emissions factors that vary by region and evolve over time. Watershed is structured as an end-to-end platform with audited methodologies that standardise and transform business data into rigorous sustainability data with 150 error checks to prevent common mistakes.
In addition, Watershed is built on CEDA, an emissions factor database with 60,000 emissions factors from 149 countries globally. Most other commonly used emissions factor databases aren’t globally representative. Watershed found that only 11% of companies reporting to CDP in the last cycle used multiregional emissions factor datasets.
"We are honoured that CDP will be using Watershed to report to CDP—and execute on their leading-by-example sustainability program," said 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."
The partnership coincides with the launch of a new Watershed feature that enables companies to transfer their data directly to the CDP portal, streamlining the process of submitting to CDP by reducing manual entry and the risk for potential errors.
CDP joins hundreds of Watershed customers across industries and regions, including 4 of the top 6 US banks, and companies like Spotify, British Airways, and Mondelez International. Watershed currently has an estimated 1 gigatonne of CO2e emissions under management, roughly equivalent to the total emissions of Japan.
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ABOUT WATERSHED: Watershed is the enterprise sustainability platform. Companies like Airbnb, Carlyle Group, FedEx, Visa, and Dr. Martens use Watershed to manage climate and ESG data, produce audit-ready metrics for voluntary and regulatory reporting including CSRD, and drive real decarbonisation. Watershed is the platform of choice for companies seeking to reduce emissions, meet customer, investor and regulatory requirements, and modernise their sustainability programs. Watershed customers also have exclusive access to a marketplace of pre-vetted, high-quality carbon projects and groundbreaking virtual power purchase agreements.
ABOUT CDP: CDP is a global non-profit that runs the world’s environmental disclosure system for companies, cities, states and regions. Founded in 2000 and working with more than 700 financial institutions with over $142 trillion in assets, CDP pioneered using capital markets and corporate procurement to motivate companies to disclose their environmental impacts, and to reduce greenhouse gas emissions, safeguard water resources and protect forests. Over 24,800 companies around the world disclosed data through CDP in 2024, including listed companies worth over two thirds of global market capitalization. Aligned with the ISSB’s climate standard, IFRS S2, as its foundational baseline, CDP holds the largest environmental database in the world, and CDP scores are widely used to drive investment and procurement decisions towards a zero carbon, sustainable and resilient economy. CDP is a founding member of the Science Based Targets initiative, We Mean Business Coalition, The Investor Agenda and the Net Zero Asset Managers initiative. Visit cdp.net or follow us @CDP to find out more. For information on CDP partnerships, contact partnerships@cdp.net.
