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This blog combines articles from ADEC ESG Solutions, as well as FirstCarbon Solutions (FCS), an ADEC Innovation.
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How to Prepare for 2019 CDP Disclosures: Are You up to Date?
Posted by Philip Vuong on Oct 16, 2018 3:00:00 PM
The CDP response season is over for another year. If your company participated in the world’s most widely-recognized measurement of carbon emissions this year, then it is time for a moment of celebration - but not a vacation. There is plenty you can be doing as the 2018 CDP cycle wraps up, and as the 2019 cycle begins, to build on your momentum for an even better response next year.
In a recent webinar, ADEC Innovations offered some useful tips, tricks, and tools for companies interested in improving their CDP performance. If you missed it, no problem – for insight on key takeaways from the session, just keep reading.
2018 was a unique year for CDP reporting. Following a recent strategic review, this year saw the launch of revised general questionnaires alongside the introduction of sector-specific questionnaires. As we come to the end of the 2018 cycle, it is time to reflect on how these changes affected you and what you can do to mitigate the challenges that arise.
Internal Debriefs and Performance Reviews
An internal debrief, bringing together all staff involved in your CDP process, can be a powerful way to formalize this reflection and identify together the most significant internal challenges you faced in reporting to CDP this year. Were you lacking the appropriate clearance, or struggling to retrieve data from subject matter experts (SMEs)? Or perhaps you faced timing issues, or lacked support from the relevant staff? Whatever your challenges, you may find it useful to book an ADEC Innovations Performance Review call, an official service we offer in partnership with CDP. After CDP scores are officially released in November/December, you can sign up to have a trained ADEC consultant examine your 2018 response and provide recommendations for improvement.
Standard Operating Procedures
Going into the 2019 CDP cycle with this reflection and review experience under your belt will set you up to take action and improve your CDP performance. In comparing the results of our clients, ADEC Innovations has noticed that the highest-scoring companies all tend to use one particular technique: establishing Standard Operating Procedures (SOPs) for data collection. A good SOP provides full transparency on who has which responsibilities and what information is being collected, as well as where, when, why and how it is being collected, so you know where to find the information you need. To begin establishing a SOP, it is crucial to answer five questions:
- Who? Identify your key points of contact for data collection, be they SMEs, support staff, or other specialized personnel.
- What? Ask the right questions, ensuring your contacts are clear on exactly what data you need.
- Where? Communicate with all relevant departments early in the data-tracking process to determine where data is available and what can be disclosed.
- When? Establish internal timelines as early as possible, and ensure that you maintain good communications with relevant staff throughout the process so that you can keep track of any delays.
- Why? Ensure your key points of contact know why you need the information you are asking for, to give them context about what information will be the most useful.
With your SOPs in place, you should be able to identify any gaps in the information needed to complete your questionnaire. Once you start drafting your responses, you should have them continually reviewed so that you can produce the best possible report.
For a more comprehensive review, ADEC Innovations provides Scoring Assessments. We provide a mock score for your draft response, predicting what it would receive if fully submitted, based on our years of experience as a CDP accredited solutions service provider. Scores are provided question by question and come with recommendations for improvements.
Whatever approach you take this year, do not let the 2019 CDP response season sneak up on you. With numerous tools and consulting services available, getting a head-start and putting planning procedures in place will provide a good basis for an even better CDP score in 2019.
ADEC Innovations is a leading provider of environmental, social, and governance (ESG) solutions, including fully integrated industry expertise, software solutions, and data management. With experience scoring over 20,000 CDP responses since 2011, ADEC Innovations has the knowledge and expertise to help you maximize your CDP disclosure and improve overall performance.