Category: Climate insurance · Reviewed by Al Jabbar, Broker · Specialist Risks · Last reviewed 2026-06-10
CDP, originally the Carbon Disclosure Project, is a not-for-profit charity registered in the United Kingdom that operates the world’s largest environmental disclosure system. Founded in London in 2000 and rebranded to CDP in 2013, it runs annual climate, water and forests disclosure questionnaires used by investors, customers and regulators to assess corporate environmental performance.
Category: Climate insurance Also known as: CDP; Carbon Disclosure Project; CDP disclosure Established / Date: Founded 2000; rebranded CDP in 2013 Related concepts: SBTi, Science Based Targets initiative, TCFD
CDP runs three principal disclosure questionnaires — Climate Change, Water Security and Forests — and operates programmes for cities, states and regions. Companies disclose on behalf of investors (the “investor request”), customers (the “supply chain request”) and regulators. Scores range from D- (insufficient disclosure) to A (leadership), with public scores released annually.
CDP was founded in London in 2000 by Paul Dickinson, Tessa Tennant and others, on the proposition that disclosure of greenhouse gas emissions by major corporates was a precondition for capital markets to price climate risk. The first CDP information request in 2003 was sent on behalf of 35 institutional investors representing $4.5 trillion in assets; by 2024, the disclosure system covered over 23,000 companies representing more than two-thirds of global market capitalisation.
CDP was one of the four founders of the Science Based Targets initiative (SBTi) in 2015 alongside the UN Global Compact, the World Resources Institute (WRI) and WWF. It is a founding scoring partner of the corporate Net-Zero Standard.
CDP disclosure is voluntary. However, CDP scores and disclosure data are referenced widely. The TCFD 2017 Final Recommendations and the IFRS S2 implementation guidance treat CDP as a credible source of emissions and climate-related performance data.[1] The Companies (Strategic Report) (Climate-related Financial Disclosure) Regulations 2022 (SI 2022/31) and the FCA Listing Rule LR 9.8.6R(8) impose disclosure requirements that often draw on CDP-submitted data.[2]
The CDP Climate Change questionnaire was substantively revised in 2024 to align with IFRS S2 and the TCFD architecture, including governance, strategy (scenario analysis), risk management and metrics & targets. Pension trustees under the Occupational Pension Schemes (Climate Change Governance and Reporting) Regulations 2021 (SI 2021/839) also commonly use CDP data for portfolio carbon footprinting.[3]
CDP itself is a UK charity (registered charity number 1122330) and registered company limited by guarantee (Companies House 05013650), governed by its trustees and subject to UK charity and company law.
UK insurers use CDP data in three ways. First, asset managers running insurer investment portfolios rely on CDP-disclosed scope 1, 2 and 3 emissions for portfolio carbon footprinting and Climate VaR calculations. Second, underwriters of D&O, financial lines and credit insurance reference CDP scores as an external indicator of climate governance maturity. Third, insurance buyers — particularly large industrials — submit to CDP and provide their scores as part of D&O and EIL renewal submissions.
Lloyd’s and the wider London Market reference CDP as one of the credible third-party data providers for ESG scoring. Major brokers (Aon, Marsh, WTW, Gallagher) commonly cite CDP scores in submissions for industrial, energy, agricultural and consumer goods accounts. Insurer groups themselves disclose to CDP as both companies and as financial service providers under the Financial Services sector module.
UK companies with listed parents or significant institutional investors are increasingly asked to respond to the CDP investor request. Larger companies may also receive supply chain requests cascading from customers committed to scope 3 disclosure. Responding well requires governance evidence, emissions inventory in line with the GHG Protocol, scenario analysis and target-setting.
For insurance buying, a CDP score of B or better is a useful credential to present to D&O and EIL insurers. Insureds in carbon-intensive sectors should expect underwriter questions about CDP participation, scoring trajectory and the underlying disclosure narrative.
A UK-listed FMCG company submits its 2025 CDP Climate Change response and is awarded a CDP A score for the third consecutive year. The score is referenced in the strategic report under s.414CB Companies Act 2006, in the D&O renewal submission, and in supply chain due diligence with major retailers. The broker uses the score to support a 5% premium reduction at D&O renewal, citing climate governance maturity.
This entry is part of the Apex Insurance Wiki. Last reviewed by Matt Bartlett on 2026-06-10. Next review: 2026-12-10.
Apex Insurance Brokers Limited. Authorised and regulated by the Financial Conduct Authority, FRN 724952. Registered in England and Wales, Companies House 07014570. This entry provides general information about UK insurance concepts and is not regulated advice. Consult your insurance broker on your specific position.
Apex Insurance Brokers serves UK professional services firms and commercial businesses. Call 0117 325 0027, email hello@apexinsurancebrokers.co.uk, or request a quotation.
Get a quote