877 companies scored A in 2025 as investors with $127 trillion push for environmental disclosure
Asia and Europe emerge as leading hubs for climate, water and forests transparency
Sub-national governments increase participation as cities in the Global South show sustained momentum
CDP, the global environmental disclosure platform, released its 2025 A List with evidence that appetite for high quality climate and nature data continues to intensify across capital markets and real economy institutions. The results capture a story of momentum, regional competition and quiet regulatory pressure that is reshaping how global business approaches transparency.
In 2025, 640 investors managing $127 trillion in assets called on companies to disclose through CDP. More than 270 major buyers sought data from approximately 45,000 suppliers through CDP’s supply chain program. That level of scrutiny reflects an increasingly mainstream view that disclosure is essential infrastructure for climate risk management, corporate resilience and capital allocation.
Expanding Disclosure and Market Coverage
More than 23,100 companies, cities, states and regions disclosed environmental information through CDP in 2025. The system continues to serve as a barometer for both climate governance and market readiness. CDP noted that over 22,100 companies, representing more than half of global market capitalization, provided environmental data and nearly 20,000 received performance scores.
A total of 877 companies achieved a place on the 2025 Corporate A List, representing roughly 4 percent of those scored. Twenty three companies earned a rare Triple A for climate change, forests and water security, a sign that cross domain environmental action is gaining recognition as a strategic priority.
Regional patterns are beginning to crystallize. Asia and Europe demonstrated the strongest relative presence on the A List. Japan and Türkiye each produced a 12 percent A rate among companies scored, while Taiwan reached 8 percent. In Europe, France reached 12 percent, Portugal 9 percent and Spain 9 percent. The results suggest that disclosure norms are diffusing through markets that already exhibit strong industrial value chains, investor sophistication and climate policy infrastructure.
Transparency Across Climate, Water and Forests
Since 2023, A scores have risen across all three scoring pillars. Climate scores increased from 346 to 751, water security scores from 101 to 263, and forests scores from 30 to 55. The upward trend reflects a broader recognition that climate and nature are interlinked operational and financial risks. For corporates, nature based issues are increasingly tied to supply chain continuity, compliance, brand value and regulatory scrutiny.
The environmental agenda is also expanding beyond corporates. More than 1,000 cities, states and regions representing over one billion people disclosed through CDP in 2025. A total of 122 cities, states and regions were awarded A scores, representing 15 percent of those scored. Participation held steady despite macro uncertainty and fiscal pressures that constrain sub-national governments.
Local jurisdictions are using disclosure as a planning tool to identify climate risks, define infrastructure priorities and steer investment. While European and North American cities dominated the A List, cities in the Global South continued to show strong engagement. That consistency suggests that climate risk exposure and urban development needs are encouraging transparency, even in regions where fiscal capacity is limited.
RELATED ARTICLE: Cities Face $105 Billion Funding for Climate Resilience: CDP Finds
What Capital Markets and Executives Should Take Away
For global corporates, the CDP results reinforce the need to deliver decision ready data. Investors are increasingly treating disclosure as a prerequisite for risk assessment rather than a voluntary sustainability exercise. Supply chain participation adds an additional layer of market pressure. Buyers are seeking visibility into water stress, forest impacts and transition risk embedded in upstream production.
In commentary accompanying the release, CDP CEO Sherry Madera stated, “Markets are sending an unmistakable signal: clear, consistent environmental data is indispensable for sound decision making. The momentum behind disclosure in 2025 shows that organizations of every size and sector recognize the value of transparent information to strengthen resilience, support innovation and unlock investment. CDP’s A List reflects the leading examples of this ambition, but the real story lies in the global commitment to making environmental data visible and actionable. As investors, policymakers and companies rely ever more heavily on these insights, disclosure remains one of the most powerful drivers of Earth positive progress.”
Global Significance
The breadth of CDP’s 2025 dataset positions disclosure as a core instrument for climate governance and financial strategy. From adaptation planning to capital budgeting, markets are integrating environmental information into routine decision making. The A List provides a snapshot of leadership, but the larger trend reflects the normalization of transparency across geographies.
As governments advance mandatory reporting frameworks and investors tighten expectations, disclosure has shifted from advocacy to administration. CDP’s results suggest that transparency is no longer peripheral to business performance. It is becoming part of the global operating system for climate and nature finance.
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