_1774710106060-Bc7aMv3v.webp)
Many Indian organisations invest significant time and resources into completing the CDP questionnaire each year. However, one aspect of the disclosure process often surprises companies: CDP currently restricts Indian listed companies from sharing their CDP score externally within India. This restriction, introduced by CDP to comply with the SEBI Credit Rating Agencies Regulations, 1999, raises an important question — if you cannot publicly promote your CDP score, is participating in CDP still worthwhile?
Can Indian Listed Companies Publish Their CDP Score?
According to CDP's current guidance, Indian listed companies must not share their CDP score externally within India. CDP states that this restriction has been introduced to comply with the SEBI Credit Rating Agencies Regulations, 1999, which regulate the use of ratings within the Indian market. Importantly, the restriction relates to the CDP score itself, rather than the company's sustainability activities or disclosure efforts.
| Can Indian Listed Companies... | Yes | No |
|---|---|---|
| Participate in CDP | ✓ | |
| Publish sustainability initiatives | ✓ | |
| Publish climate targets and emissions | ✓ | |
| Publish their CDP disclosure content | ✓ | |
| Share their CDP score externally within India | ✓ | |
| Promote their CDP score in Indian marketing materials | ✓ |
Under CDP's current guidance, Indian listed companies should not publicly share or promote their CDP score within India.
Why Does CDP Restrict Score Disclosure in India?
This is one of the most commonly misunderstood aspects of CDP. The restriction is not a general prohibition on sustainability reporting, nor does it prevent Indian listed companies from participating in CDP. Instead, CDP introduced this policy to comply with the SEBI Credit Rating Agencies Regulations, 1999. The result is that companies continue to receive their CDP score privately but are restricted in how that score may be communicated externally within India.
Why Do Indian Listed Companies Still Participate in CDP?
For many organisations, the value of CDP extends far beyond the ability to announce a score on a website or LinkedIn page. Instead, CDP has become an important framework for meeting customer expectations, strengthening climate governance, and responding to increasing investor scrutiny.
1. Meeting Customer Requirements
Many multinational organisations request CDP disclosures from suppliers as part of procurement and supplier engagement programmes. For Indian companies operating within international supply chains, completing CDP is increasingly becoming a commercial expectation rather than a voluntary exercise.
2. Responding to Investor Expectations
Institutional investors continue to use CDP as one of the world's leading environmental disclosure frameworks. Although Indian listed companies are restricted from publicly promoting their score within India, relevant stakeholders may still request or access CDP disclosures through the appropriate channels.
3. Strengthening Climate Governance
Preparing a CDP response requires organisations to systematically evaluate their climate governance, climate-related risks and opportunities, greenhouse gas emissions, targets and transition planning, and internal data management processes. For many companies, the disclosure process itself becomes a valuable strategic exercise that helps identify gaps and drive continuous improvement.
4. Supporting Other ESG Frameworks
Much of the work completed for CDP also supports other sustainability initiatives. Rather than being a standalone reporting exercise, CDP often strengthens an organisation's broader ESG reporting programme:
→ Business Responsibility and Sustainability Reporting (BRSR)
→ ISSB climate disclosures
→ TCFD-aligned reporting
5. Continuous Improvement
Indian listed companies still receive their CDP score privately. This enables organisations to benchmark performance over time, identify opportunities for improvement, and strengthen future disclosures — even where the score itself cannot be promoted publicly within India.
Is CDP Still Worth It for Indian Listed Companies?
The answer depends on an organisation's stakeholders, markets, and sustainability objectives. CDP is likely to provide the greatest value for organisations that export products or services internationally, supply multinational customers, receive ESG requests from investors or financial institutions, participate in global sustainability assessments such as EcoVadis, or want to strengthen climate governance and environmental reporting.
For organisations operating primarily within domestic markets and facing limited external ESG requirements, the business case may be less compelling. Ultimately, companies should evaluate CDP based on its strategic value — not solely on whether the score can be publicly promoted.
Frequently Asked Questions
Can Indian listed companies publish their CDP score?
→ No. According to CDP's current guidance, Indian listed companies should not share their CDP score externally within India.
Can Indian listed companies still participate in CDP?
→ Yes. Indian listed companies can continue to participate in CDP and receive their score privately.
Does the restriction apply to all Indian companies?
→ No. CDP's guidance applies specifically to Indian listed companies. Unlisted organisations are not subject to the same restrictions.
Can companies still publish their CDP disclosure?
→ Yes. CDP states that organisations may continue to publish their CDP disclosure content and reference their participation in CDP. The restriction applies specifically to the score.
Does BRSR replace CDP?
→ No. BRSR is India's mandatory sustainability reporting framework for eligible listed companies, while CDP is a global environmental disclosure framework used by investors, customers, and supply chain partners. Many organisations complete both.