IsoMetrix adds the CDP disclosure framework to its Lumina platform
The CDP framework joins various international ESG frameworks and standards to form a comprehensive list of disclosure resources for IsoMetrix Lumina customers.
IsoMetrix has announced that its ESG data management and reporting platform, IsoMetrix Lumina, has incorporated the CDP disclosure framework into its product offering. The company has been enabled to do so after officially becoming a CDP Accredited Solutions Provider (ASP).
Created to enable small and mid-sized businesses to manage and report on their ESG and sustainability performance, IsoMetrix Lumina allows its users to collect key data and report on their ESG metrics accurately, efficiently, and in alignment with a host of internationally recognized sustainability standards.
CDP runs the global disclosure system for investors, companies, cities, states, and regions to manage their environmental impacts, and CDP reporting is often a focus of ESG disclosure as it focuses on climate change, an area that is of particular interest to shareholders and consumers alike.
Following a stringent development and application process, IsoMetrix has finalized the addition of the CDP standards to the other internationally recognized frameworks already available within its Lumina platform, namely GRI, SASB, TCFD and the World Economic Forum (WEF) Common ESG Metrics.
The inclusion of these standards within the Lumina platform is designed to simplify and streamline the disclosure process for IsoMetrix customers, who may be unfamiliar with how to report against them.
Standardized questionnaires allow users to enter their ESG data, before formatting it into a standardized report according to the selected framework. The Lumina software also displays where information may be missing or incomplete, enabling users to discover where further data is needed to comply with the standard of their choice.
Another key feature of Lumina is the ability to cross-reference ESG data in terms of equivalencies across the various standards. Submitted data pertaining to a specific area for one standard can be saved and automatically used for another standard, saving time, and eliminating complexity and potential confusion regarding how to report identical data across the various reporting frameworks.
Giles Nelson, Chief Operating Officer (COO) for IsoMetrix, commented that “Adding the Climate Disclosure Project (CDP) standard into Lumina is a significant milestone for us.
Our global agreement with CDP enables all of our customers to benefit from one of the most important disclosure frameworks to investors, corporates, and also regulators. Our aim is to make reporting as simple as possible, whether an organisation needs to report to one, two, or a hybrid of standards.”
Paul Robins, Head of Corporate Partnerships, CDP commented: “The addition of IsoMetrix into our network of accredited solutions providers will bring highly valued expertise to the thousands of companies using CDP to disclose their environmental data, and support them to implement leading actions to manage their risks and reduce their impacts.
We are confident that IsoMetrix’s capabilities will be useful, and we are glad to accredit them as a valued, high-quality service provider.”