Strong results from Fondita’s engagements as lead signatory in the CDP 2023 Non-Disclosure Campaign
Fondita acted as the lead signatory in CDP’s (former Carbon Disclosure Project) 2023 Non-Disclosure Campaign. The NDC runs alongside the main CDP disclosure request, to boost transparency and drive-up rates of corporate disclosure. We contacted 12 of our holdings in the start of the summer to encourage the companies to report to the CDP Climate, Water and Forest modules. The recommendation to report focused on either the Climate, Water or Forest questionnaire depending on the sector the company operates within. Read more about the engagement in our earlier blog post.
We are happy to announce that 3 of the companies we engaged with decided to increase their environmental disclosures! Fondita was responsible to reach out to the companies, take the dialogue of why disclosure is important and assist in case it was needed. The following companies reacted to the campaign:
- Verbio AG, a manufacturer and supplier of biofuels, have submitted their disclosures in all three recommended modules, Climate, Forest, and Water.
- Adesso SE, who provides innovative and tailored IT solutions, have reported in their recommended module, Climate.
- Fenix Outdoor International AG, an outdoor brand known for their wholesale of Fjällräven products, have reported in their recommended modules, Climate and Water.
As we work closely with sustainability related data in our investment process, it’s of great importance to attain quality and comparable data. We also firmly believe company disclosures raises awareness of their environmental impacts which in turn helps them focus on the most relevant issues.
CDP announced a record-breaking number of disclosures in 2023 with over 23 000+ companies sharing their environmental data through CDP. Out of these, over 5 800 companies disclosed vital data based on capital markets requests, which is an increase of 15% compared to 2022.
This goes to show collaborative engagement campaigns have significant impact on capital markets. We are eager to participate in each opportunity we can which includes collaborative efforts in establishing better transparency in the market regarding sustainability related data. This is especially important, since regulation such as CSRD has been watered down making it difficult for financial market participants to retrieve data to meet regulatory requirements as well as further developing the ESG integration in the investment process.
Head of ESG