Climate change is the most severe global problem. Every investor with a social and long-range view intends to improve climate performances by means of its investment. Companies should appeal to investors by disclosing their environmental activities. Among many disclosure systems, CDP (the former Carbon Disclosure Project) is the pioneer of the global one. This study shows the relation between corporate activity to prevent climate change and shareholder structure, by means of the response to CDP Japan 500. This investors' activity study indicates that disclosing the climate performance affects investor's activity to hold the stock of companies preventing climate change. It is critical that the company that is requested to provide information on climate change by CDP answers it and aims at high CDP score. In particular, this study shows the relation between investors and companies and promotes corporate activity to prevent climate change.