223 Financial Institutions Press 1,300 Companies to Disclose Environmental Risks

CDP has mobilised 223 global financial institutions representing nearly US$23 trillion in assets to request environmental disclosures from more than 1,300 high-impact companies as part of its 2025 Non-Disclosure Campaign. Water-related disclosure requests saw the sharpest increase, rising 54% compared to 2024.

The 2025 Non-Disclosure Campaign targets companies that have previously failed to respond to CDP disclosure requests on climate change, forests, and water security. This year, 919 companies face climate disclosure requests, 711 face water requests — up 54% from 2024 — and 307 face forests requests. The 1,300-plus targeted companies carry a combined market capitalisation of approximately US$12 trillion. North America has the highest number of targeted companies at 429, followed by Asia Pacific at 396 and Europe at 339.

CDP's analysis shows that financial institutions are 2.5 times more effective at prompting disclosure than other types of requesters. The campaign reflects growing investor recognition that environmental risk represents material financial risk. As pressure mounts from regulators, policymakers, and end consumers, businesses across high-impact sectors face increasing scrutiny to integrate climate, water, and forests risks into core corporate strategy and long-term financial planning.

Since CDP's 2025 disclosure window opened, over 70,000 companies have already received environmental disclosure requests from customers, investors, and supply chain partners. CDP Chief Growth Officer Kari Stoever said transparent data on climate, water, and forests is essential for converting environmental risks into business opportunities. The Non-Disclosure Campaign represents one tool in CDP's broader effort to embed environmental accountability into capital allocation decisions globally.

Key figure — 54% increase in water-related disclosure requests in 2025