The Monaco Reserve Funds joined the CDP to disclose its environmental impact.

Every year since 2002, CDP sent out Letters to Company boards on behalf its capital markets signatories requesting they disclose data on their environmental impact. In 2022, more than 680 financial institutions worth over US$130 trillion in assets signed CDP’s Letter, requesting environmental information from nearly 10,400 companies worldwide.

The Letters start going out to companies this week, requesting they disclose their data on all or some of the following environmental issues: climate change, deforestation, and water security.

Companies are being asked to disclose this information through CDP – the non-profit that runs the world’s environmental disclosure system for companies, cities, states and regions.

Almost 100 more financial institutions, asset managers, asset owners, banks, insurance companies and this year the The Reserve Funds of Monaco, have put their name to the disclosure request this year compared to last, demonstrating rising demand for TCFD-aligned corporate environmental information.

The decision from the Gouvernment of the Principality of Monaco to integrate the Reserve Funds in the CDP is coherent with the national policie encouraging sustainable capital management. Last March 2021, the Minister of Finance and Economy for the Principality of Monaco, Jean Castellini, launched the initiative Monaco Sustainable Finance (Monaco Finance Durable) as a first signal towards the financial sector to integrate ESG practices and report the impact of their portfolios.

“CDP welcomes Monaco Reserve Funds to its list of capital markets signatories. The decision made by Monaco shows a growing level of awareness among influential financial institutions, which will drive transparency and environmental action further.

Working with more than 680 financial institutions with over $130 trillion in assets, CDP pioneered using capital markets to motivate companies to disclose their environmental impacts. While there is still a surprisingly large part of the market that did not take the vital first step towards disclosure, we are happy to see more capital markets investors join to help mitigate environmental risks and push forward the low-carbon transition”.  

Laurent Babikian, Global Director of capital markets at CDP

This growing market demand is driving more transparency every year, with CDP last year recording higher corporate disclosure numbers than ever before. Nearly 3,200 companies out of 7,176 requested, disclosed their environmental information in response to CDP’s Letter to the Board in 2021. This is in addition to over 10,100 other companies that disclosed through CDP, either at the request of their business customers through CDP’s Supply Chain program, or of their own volition. This means that in total, over 13,000 companies representing some 64% of global market capitalization disclosed their data through CDP in 2021.

Companies being asked to disclose by these institutions include over 3,300 companies that are being requested for the first time (marking a 46% increase since last year), as CDP pushes to scale the uptake of corporate environmental reporting even further. Since the first disclosure request was sent out in 2002, CDP has grown to house the world’s largest global repository of environmental data, but by 2025, the aim is to grow this to cover 90% of the world’s highest-impact firms.

While more companies are being requested and reporting every year, many still do not disclose enough data on their environmental impact. Nearly 4,000 companies – including Berkshire Hathaway, Chevron, Exxon Mobil and Glencore – failed to respond to the request for disclosure from financial institutions in 2021.

The list of financial institutions that signed CDP’s disclosure request in 2022 can be found here and a template version of the Letter that company Boards receive can be viewed here .

Below is a list of all the companies being requested by these financial institutions in 2022. The list indicates which questionnaire/s the company is being requested to disclose to.

Monaco Reserve Funds CDP

Source: CDP

Monaco Reserve Funds CDP