'Caring for Climate' recommends Carbon Disclosure Project for signatory reporting obligations
Caring for Climate, a joint initiative between the United Nations Global Compact and the United Nations Environment Programme, has recommended the Carbon Disclosure Project (CDP) as a reporting framework for its signatory companies in reporting guidance.
Caring for Climate signatories commit to communicate on an annual basis on progress made in implementing the five areas of commitments as outlined in the Caring for Climate Statement. There are currently nearly 400 companies across 65 countries that have endorsed Caring for Climate.
The Caring for Climate reporting guidance outlines disclosure-related responsibilities for signatory companies, including the use of existing reporting frameworks to meet the annual reporting requirements of the initiative.
The following is the text of the measurement element of the Caring for Climate Communication on Progress (COP-Climate) report with which signatories must comply:
Measurement of outcomes using, as much as possible, broadly accepted climate-related indicators or metrics, for example those in the Carbon Disclosure Project (CDP) and GRI G3.1 Guidelines. It is encouraged that at minimum, the COPs-Climate contain a definition of performance indicators and basic measurements (qualitative and/or quantitative) of outcomes.
Caring for Climate recommends utilising the Carbon Disclosure Project (CDP) reporting process to develop the COP-Climate, as in its opinion, the CDP currently stands as a more rigorous tool in reporting GHG emissions and climate change strategies on an annual basis. However, the guidance acknowledges that the Global Reporting Initiative (GRI) and the Global Compact Advanced Communication on Progress (COP) can also be used to fulfill the COP-Climate requirements.
More information is available on the UN Global Compact website.