- CDP will separate into two organizations: a commercial environmental data and disclosure business backed by Permira, and CDP Foundation, a non-profit focused on science-led disclosure.
- CDP Foundation will remain a shareholder: the Foundation will keep board representation, preserving a governance link between disclosure science and commercial delivery.
- Permira’s investment will target scale: the partnership is expected to expand CDP’s technology, data services, product development, and disclosure tools for companies and financial institutions.
CDP Reshapes Its Global Disclosure Model
CDP is preparing for one of the largest structural changes in its 25-year history, separating its global environmental disclosure system into two distinct organizations as demand grows for trusted climate and nature data.
The organization announced that it will become CDP, a commercial entity backed by global investment firm Permira, and CDP Foundation, a charitable organization focused on science-led disclosure principles. Both entities will remain connected by a shared ambition to improve environmental transparency and support better decision-making across markets.
The move comes as companies, investors, regulators, and financial institutions face rising pressure to assess environmental risks with more precision. Climate, nature, water, and supply chain data have become central to capital allocation, transition planning, procurement, and governance.
For CDP, the new structure is designed to sharpen both sides of its mandate. The commercial entity will focus on delivering data, disclosure services, and insights at scale. The Foundation will concentrate on scientific integrity, frontier environmental indicators, and the evolution of CDP’s question bank.
Foundation Keeps Governance Link to CDP
CDP Foundation will remain a shareholder in CDP and will hold board representation. That governance arrangement is central to the model. It is intended to keep scientific priorities close to the commercial disclosure platform used by companies and data users worldwide.
The Foundation will translate emerging environmental science into practical disclosure methods. It will also look beyond standard market practice by identifying indicators linked to planetary health.
The commercial CDP business will continue to operate what the organization describes as the world’s most comprehensive environmental disclosure system. Its role will be to provide disclosure infrastructure, data products, and insights to companies and financial institutions.
CDP said its products, services, and 2026 disclosure cycle will continue as planned during the transition.
Sherry Madera, Chief Executive Officer of CDP, said: “This is a transformative moment, marking the next chapter of CDP’s evolution in service of global markets. We are deepening our priorities – enabling CDP to deliver stronger science-led, disclosure and leverage new technologies to simplify the disclosure experience.”
She added: “CDP and CDP Foundation will be united in shared ambition. Together they will uphold a pioneering disclosure system that will help unlock greater decision-useful insights to shape an Earth-positive economy. This partnership with Permira will chart a clear path for the future, enabling CDP’s environmental data and insights to deliver greater value to disclosers, companies, financial institutions and wider CDP data users, accelerating meaningful, real-world impact.”
Permira Investment Targets Technology and Scale
Permira’s backing brings private capital into a disclosure system that has long been central to corporate environmental reporting. The investment firm will support CDP through increased investment in people, technology, and product development.
That focus matters for sustainability teams and investors. Disclosure burdens have grown as regulation, voluntary frameworks, and stakeholder expectations converge. Companies now need systems that can manage more complex data, reduce duplication, and produce insights that boards and investors can use.
Permira said environmental risk is already reshaping supply chains and investment decisions. Its investment in CDP is also the first under its Energy Transition strategy, which focuses on backing and scaling companies in the sector.
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Anish Patel, Partner and Co-Head, and Gabriel Andrews, Managing Director – Energy Transition, at Permira, said: “As environmental risk reshapes global supply chains and investment decisions, the need for trusted data has never been greater, and CDP fulfils that role. As Permira’s first Energy Transition investment, this partnership will strengthen CDP’s ability to support better environmental decision-making at scale, while helping provide a strong platform for the Foundation’s continued work. Permira has a strong track record of backing world-class management teams and organizations, helping them advance their missions and expand their impact. We look forward to partnering with Sherry and the CDP team as they enter this next chapter, and are grateful for their trust.”
What Executives and Investors Should Watch
For corporate leaders, the shift points to a more technology-enabled disclosure experience. CDP said the structure will give the commercial entity greater capacity to improve tools, data services, and insights for disclosers and data users.
For investors, the governance question will be equally important. CDP’s influence depends on trust, comparability, and scientific credibility. Keeping the Foundation as a shareholder with board representation may help maintain that link while allowing commercial expansion.
Katherine Garrett-Cox, Chair, CDP Board of Trustees, said: “Innovation and science have been at the heart of CDP since its founding, and it will continue to guide our work – through both the CDP Foundation and CDP. As we embark on this next chapter, alongside our long-standing supporters and new partners, this new model will enable CDP to enhance the vital role its data plays in the world: to drive impact, advance sustainable markets, and protect future generations.”
The advisory lineup reflects the significance of the transaction. Bates Wells and Baker & McKenzie LLP served as legal counsel to the charitable organization CDP, CDP North America, and CDP Japan. Rothschild & Co and Alvarez & Marshal served as financial advisors to the charitable organization, CDP.
CDP’s restructuring lands at a defining moment for environmental disclosure. Markets are demanding better data, regulators are tightening expectations, and companies are under pressure to prove resilience. The new model places CDP at the intersection of science, private capital, and global sustainability reporting.
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