89 Percent of European Market Capitalisation Discloses Through CDP in 2023

More than 1,600 European organisations representing 89 percent of European market capitalisation disclosed through CDP in 2023, according to CDP's Europe Report released in partnership with Oliver Wyman. The report finds that despite unprecedented commitment to climate action, the fundamental economics of green transition are not shifting fast enough across many sectors.

The CDP Europe Report 2023, subtitled Get the Money Moving, examines the challenges in translating climate transition plans into substantive changes in investment, product development and supply chains. New analysis by CDP and consultancy Oliver Wyman maps pathways to make a rapid, large-scale switch to greener business models commercially attractive. The report explores why, despite strong voluntary disclosure levels, capital is not flowing at the pace and scale required to put European industry on a 1.5 degree Celsius trajectory.

European companies continue to lead globally on climate disclosure and target-setting, but the report highlights structural barriers to translating ambition into investment. Sectors including heavy industry, chemicals and transportation face particularly complex transition economics, where the cost of green alternatives remains above conventional options without adequate carbon pricing or policy support. The report argues that data-driven investment strategies, informed by CDP disclosure, can identify where commercial incentives already exist and where policy intervention is most needed to close the gap.

The report was sponsored by Beiersdorf, L'Oreal, Symrise and Mayr-Melnhof Karton, reflecting engagement from consumer goods and packaging sectors facing near-term transition pressure. Oliver Wyman's analysis provides sector-specific pathways for accelerating the commercial viability of green transitions. CDP and Oliver Wyman call on investors, companies and policymakers to use the report's findings to identify priority areas for capital deployment and policy intervention in order to accelerate progress toward European climate targets.

Key figure — 89% of European market capitalisation represented by 1,600+ CDP disclosers in 2023