LONDON – “Companies may say they already disclose their environmental impact in sustainability reports – that is not enough on its own,” says Emily Kreps, global director of investor initiatives at not-for-profit CDP, formerly the Carbon Disclosure Project.
The CDP, together with a group of investors with a combined US$10 trillion in assets, has now urged 707 companies, including apparel firms such as Adidas and Gap, to disclose further information on their environmental impacts. The CDP is ramping up pressure on a group of companies that possess a US$15.3 trillion market capitalisation across 46 countries – including leading apparel brands. This is due to an alleged failure by brands to report on some, or all their data on climate change, water security and deforestation.
