CDP 2024 shows strong esg reporting growth, but only 2% of companies reach top environmental leadership. A gap remains between disclosure and action
CDP 2024 A List: only 2% of global companies show true environmental leadership
Despite a surge in ESG reporting worldwide, environmental leadership remains a rare achievement. Out of more than 22,700 companies evaluated in 2024, only 515 reached the highest performance rating, an “A”, according to the Carbon Disclosure Project (CDP).
This confirms a key trend: while more companies are disclosing ESG data, most are still far from reaching true environmental leadership.
ESG reporting insights from the Carbon Disclosure Project
As every year, the CDP 2024 A List highlights the top performers: a select group of companies that combine transparency with strong climate ambition and integrated action on climate, water, and forests. This year marked a shift in methodology. For the first time, CDP adopted a unified corporate-level questionnaire, enabling more structured, consistent, and reliable environmental disclosures.
The numbers reflect clear progress compared to 2023:
| Indicator | 2024 | 2023 |
|---|---|---|
| Companies evaluated | 22,777 | 21,115 |
| Companies on the A List | 515 (2%) | 396 (2%) |
| Climate A Scores | 462 | 346 |
| Water Security A Scores | 133 | 101 |
| Forest Protection A Scores | 26 | 30 |
Recognition for climate efforts rose significantly (+116 companies), while water security also saw a strong increase (+32). Although slightly down, forest-related leadership still counts 26 companies on the list.
CDP highlights how awareness of the connections between climate, water, and forests is becoming central to corporate strategies.
Better ESG reporting, stronger business performance
According to CDP’s ESG reporting analysis, companies on the A List not only lead in environmental performance, but also show greater economic competitiveness. Over the last 10 years, they have delivered 6% higher average stock returns compared to their peers with less transparent or incomplete disclosures.
Still, a wide gap remains between disclosure and leadership. The top-performing companies are those that integrate environmental data into business decisions, engage their value chains, and aim for an “Earth-positive” future.
“Environmental leadership is not just about compliance. It’s a competitive advantage,” says CDP CEO Sherry Madera. “A List companies are setting the path: they embed environmental responsibility into governance, strategy, and operations, turning transparency into a growth tool. 2025 must be the year we shift from disclosure to action.”
