Spurred by rising concerns of climate change risks generated by business practices, a group of investment and legal professionals, hosted by Former British Prime Minister Tony Blair, gathered in 2000 to create the Carbon Disclosure Project (CDP).
CDP was established to help businesses assess and be transparent about their exposure to climate change. The approach is simple: survey the world's largest corporations about carbon emissions, analyze the data, and publish a report on the companies’ responsibilities and roles in transitioning to a low-carbon economy. The mission is twofold: inform investors and stakeholders of corporate climate change risks and opportunities; and inform corporations of shareholders’ concerns about the impact of climate change.
Despite a no-frills beginning working unpaid in a leaky basement, CDP garnered the participation of 35 investors (assets of $4.5 billion) in the first year. To continue momentum, CDP approached Rockefeller Philanthropy Advisors (RPA) in search of strategic support.
Acting as their fiscal sponsor, RPA provided guidance in the organizations nascent stages, establishing their operations and enabling expansion to the U.S. RPA assisted CDP with selecting partners for communications, identifying and working with various dignitaries participating in global launch events, and developing effective strategic plans and new programs.
CDP's success as a respected global initiative is rooted in its ability to motivate corporations to assess the business implications of climate change. To date CDP:
- assembled the largest public corporate greenhouse gas emissions database
- represents 475 investors ($57 trillion in assets)
- receives responses from over 3,000 corporations
- launched programs that mobilize regional governments to assess contributions to climate change and localized impact on communities
- established a program aiding corporations in measuring their supply chain's carbon footprint
RPA Senior Vice President Doug Bauer, CDP Trustee, states it has been tremendously gratifying to watch CDP grow over the years into the effective organization they are today. While their staff and work have grown tenfold, they have remained true to their mission, and have enabled the reporting of essential data within a space so urgently in need of transparency. Finally, it should be noted that the work of CDP has just been embraced by the EPA--just another indication of their success."