Companies with over $8tr in global market capitalisation and with estimated emissions of 4,800Mt of carbon dioxide equivalent annually are being pushed by 105 investors from 23 countries to disclose more environmental data.

Led by CDP, as a part of its 2020 Non-Disclosure Campaign (NDC), the investors include Legal & General, Nordea Asset Management and the New York State Common Retirement Fund and the targets include companies such as oil giant Chevron. This year, CDP hopes to see a major increase in companies engaging across the board on the key themes of climate change, deforestation and water security. This follows on from a successful year in 2019, when 88 investors targeted 707 companies. Companies that were targeted by their investors as part of the 2019 NDC were more than twice as likely to provide new disclosure than those who were not.

Emily Kreps, global director of capital markets at CDP, commented: “The importance of investor engagement to drive disclosure cannot be overstated. Climate change, water security and deforestation present material risks to investments, and companies that are failing to disclose their impact risk trailing behind their competitors in their access to capital.

The Non-Disclosure Campaign is one of CDP’s flagship investor initiatives. The objective of the campaign is to drive further corporate transparency around climate change, deforestation and water security, by encouraging companies to respond to CDP’s disclosure request.

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