New report reveals lagging corporate renewable purchasing, undermining global clean energy goals. Major global companies are falling short in their use of renewables, with nearly half using no renewable electricity at all, according to a new report from non-profit CDP released today as COP29’s ‘Energy Day’ kicks off.

2024 was a critical milestone in CDP’s efforts to better support and empower SMEs across major and emerging markets. More than 12,500 companies disclosed through our new SME questionnaire and started their journey from disclosure to data-driven action.

In 2023, the CDP reported a record-breaking increase in corporate disclosures, with over 8,000 companies from the Asia Pacific region participating—an impressive 30% rise from the previous year. Countries like South Korea, Vietnam, and Cambodia led in relative increases, highlighting a growing commitment to sustainability and climate resilience among business leaders in one of the world’s fastest-growing economic regions.

Under the new agreement, CDP and GRI will build capacity and streamline disclosure for companies, with the aim of increasing access to comparable data through environmental reporting that reflects the highest ambition.

Companies are eyeing more business opportunities from tackling climate change than ever before, with the world's biggest businesses now identifying nearly $5 trillion in potential gains, according to data released by CDP as governments meet in Azerbaijan for COP29.

130 U.S. cities disclosed a need for $27 billion in investment, focusing primarily on buildings, energy efficiency, transportation, and renewable energy.