The Carbon Disclosure Project (CDP) 2019 report was recently published.

Carbon Disclosure Project

• CDP is published by the Global Reporting Initiative.
• It is aimed at measuring the carbon reduction activities undertaken by different companies and firms operating in various countries across the globe.
• The report surveys corporate commitments to science-based targets (SBT) and evaluates the climate change risk that they are exposed to.

India’s performance

• India secured the 5th spot on the project report.
• The CDP Report 2019 said that a total of 58 companies shared details about the environment-related activities undertaken by them in this year.
• The report also claims that over 98 percent of top Indian companies have formed some type or committee or group within its organization to drive and address climate-related issues.
• The report also showcased the changing mind-set of India Inc with nearly all major companies setting up some form of oversight to evaluate climate risk.

Global scenario

• The US topped the annual CDP report with 135 companies disclosing their climate-related activities, followed by Japan in the second position with 83 companies and the UK in the third position with 78 countries.
• While France was placed fourth with 51 companies disclosing their details, India was placed fifth with 38 companies committing to the science-based targets.
• In 2018, India had only 25 companies committing to the SBTs.
• India is followed by Germany and Sweden with 30 and 27 companies respectively, while Switzerland and Spain had 23 and 22 companies respectively.
• Netherlands was listed 10th on the list with 18 companies committing to SBT initiatives.

Importance

• India was ranked 5th, ahead of Germany and Sweden.
• India is the first developing economy with a maximum number of companies committing to the science-based targets.

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