Carbon disclosure and climate change reporting is becoming increasingly critical for investors to fully assess their risks, liabilities and opportunities within their portfolios.

The Carbon Disclosure Project (CDP), to which PwC has been appointed global adviser and report writer for the next three years, has published the results of the Global500, S&P500 and FTSE350 companies that disclosed their activities.

The CDP initiative, now in its sixth year, provides investors with a unique analysis of how the world’s largest companies are responding to the challenge of climate change. Over 380 institutional investors sign up to CDP, with combined assets under management of $57 trillion.

The reports provide real insight into how companies track their carbon footprint and consider the risks and opportunities of carbon on their business. It also shows how companies compare against their industry peer group and who is leading the field.

Richard Gledhill, global climate change leader at PwC, says: “Companies need to measure and report their carbon emissions and be clear about how they are managing them. Unless they do so, they risk losing sight of the impact of climate change on the long-term financial health and future prospects of their business.”