CDP, the international non-profit organisation that operates the global environmental disclosure system, has announced its restructuring into two separate corporate entities.
The restructuring divides the organisation into CDP, a commercial enterprise backed by global investment firm Permira, and the CDP Foundation, a registered charity. Under the new model, the commercial arm will manage global environmental data collection and corporate disclosure services, whilst the charitable foundation will establish the underlying scientific principles and methodology for disclosure.
The financial terms of Permira’s investment have not been disclosed. The transaction stands as the first asset acquisition under Permira’s dedicated Energy Transition investment strategy.
Division of operational responsibilities
The structural realignment alters how the 25-year-old environmental reporting platform compiles data and updates its methodologies:
- The CDP Foundation: Functioning as an independent charity, the foundation will remain a shareholder in the commercial entity with formal board representation. Its primary mandate is to translate environmental and climate science into standardized disclosure metrics, directly informing the evolution of the platform’s annual questionnaire.
- CDP (Commercial Entity): Backed by Permira’s capital, the commercial business will focus on operating the software infrastructure, managing data processing pipelines, and scaling technical tools for corporate disclosers and financial institutions.
The restructuring is designed to increase capital investment into CDP’s software engineering and data services, aiming to streamline user interaction and reduce the reporting burden for companies tracking climate risk. The organisation confirmed that all existing products, data services, and the current 2026 disclosure cycle will proceed without interruption during the transitional phase.
Permira will provide capital and operational support intended to scale the commercial platform’s technology infrastructure and expand its global engineering workforce.
Legal counsel for the charitable organisation CDP, CDP North America, and CDP Japan was provided by Bates Wells and Baker & McKenzie LLP. Rothschild & Co and Alvarez & Marsal acted as financial advisors during the restructuring process.
Sherry Madera, Chief Executive Officer of CDP, described the split as a transitional phase to modernise the platform’s delivery model, noting that the partnership with Permira is intended to simplify the reporting process via technological investment while delivering more precise, data-driven insights to financial markets.
Katherine Garrett-Cox, Chair of the CDP Board of Trustees, added that the new model allows the foundation to focus strictly on translating frontier science into actionable indicators to advance sustainable market standards.
Anish Patel, Partner and Co-Head, and Gabriel Andrews, Managing Director of Energy Transition at Permira, stated that environmental risks are actively reshaping global supply chains, increasing institutional demand for verified corporate data. They confirmed that the investment will provide a stable commercial platform to fund the foundation’s ongoing research while expanding the reach of the disclosure network.
