While transparency and reporting for businesses have become increasingly important in recent years, the changing landscape in light of the current pandemic has made these factors even more crucial. The outbreak of COVID-19 has driven companies and other organizations to rethink resiliency, sustainability, and how they do business amidst global disruption.
Challenges for 2020 CDP Reporting
In our extensive experience with CDP reporting, we have seen certain challenges consistently arise each year. Some of these challenges may be intensified as a result of the global COVID-19 crisis. The following are challenges that we have seen and anticipate for CDP reporting this year.
1. Keeping up with CDP updates and changes in 2020 methodology.
To ensure accurate scoring and alignment with global changes in policy, technology, and thought-leadership, CDP updates its guidance and methodology each year. This includes changes in time frames, new questions, sector-based questions, Online Reporting System (ORS) technical issues, and more. The magnitude of changes varies year to year, and we have found that many reporting organizations find it challenging to keep up-to-date. Organizations also often do not know all the CDP resources that are available to them, which we will review during the webinar.
2. Fewer resources devoted to reporting.
Businesses are often subject to budget cuts and staff reductions to some extent. This challenge has been exacerbated due to the pandemic, making reporting even more complex with limited resources.
3. More difficult to collect data and information from operations and suppliers.
Many sites or departments may be temporarily (or permanently) closed due to safety measures or budget reductions around COVID-19. Staff cuts have led to a loss in institutional knowledge. Organizations have also had to make changes to their supply chains, making it more difficult to collect and disclose metrics, such as Scope 3 emissions.
4. Internal communication and coordination are more difficult.
The reporting process calls for cross-functional coordination of departments within a business. Working cohesively to, for instance, obtain key information and sign-offs has become more of a hurdle for some, especially with more remote working conditions.
5. Setting expectations with your leadership team.
The overall framework of CDP reporting is consistently evolving, especially in these uncertain times. This necessitates effective communication with your leadership team to ensure clarity in navigating through these familiar and unfamiliar challenges in this year’s CDP reporting. However, there are opportunities in this time of uncertainty, and those organizations with robust environmental, social, and governance (ESG) policies are in a much better position to capitalize on them.
Join us to learn more!
Responding to CDP this year? ADEC ESG Solutions hosted a webinar on June 9, where our experts addressed these challenges and more. Check out the webinar on-demand to learn how to organize your response despite challenges, changes, and more in 2020. Our live webinar aims to help attendees understand how to organize responding to CDP in 2020, given new challenges and a changing environment around COVID-19.
The webinar will cover topics such as:
• Effects of COVID-19 on organizations worldwide
• How to address current challenges, such as remote teams and reduced budgets, staffing, and resources
• How to leverage resources to gather data and provide a high-performing CDP response
• Best practices for disclosure completion
• Resources available to you to help keep you on track, and more
Check out a recording of the webinar HERE.
With experience scoring over 23,000 CDP responses and conducting more than 1,700 Performance Review Calls since 2011, ADEC ESG Solutions has the knowledge and expertise to help you maximize your CDP disclosure and improve overall performance. Contact us to learn more about how we can help.
