CDP, an organization that facilitates the disclosure of environmental data, has introduced a new feature allowing companies to report on the impact of plastic-related risks and exposure.
Adding this reporting capability follows a request from more than 740 investors with $136 trillion in assets, who have expressed the need for more information on plastic-related risks. CDP’s existing platform allows investors and stakeholders to track organizations’ sustainability performance in climate change, deforestation, and water security. In 2022, more than 18,700 companies disclosed environmental data through CDP, representing a 40% increase from the previous year.
The new plastics module added to the water security questionnaire covers plastics mapping, environmental impact assessment, business risks, and targets and also includes specific questions for companies in sectors like chemicals, fashion/apparel, food and beverage, fossil fuels, and packaging.
Introducing this new feature is timely as many governments worldwide are proposing laws to address the plastic pollution crisis, which poses various financial and reputational risks for both companies and investors.
