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Large American companies prepare for climate reporting (2024)
| Environmental, social, and corporate governance |
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A recent study indicates more than two-thirds of large American corporations are budgeting to report emissions data. Courts are still reviewing the Securities and Exchange Commission’s climate disclosure rule, but state laws and international regulations have prompted corporate action ahead of a final decision:
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Over two thirds of large companies in the U.S. have put in place dedicated budgets for sustainability reporting, and nearly all plan to increase spending on sustainability and compliance reporting, and would advance their sustainability efforts even in the absence of climate and sustainability regulations, viewing sustainability as a company value driver, according to a new survey by ESG and EHS solutions provider EcoOnline. For the study, EcoOnline surveyed 95 C-suite executives, Vice Presidents and Directors at U.S. companies with revenues greater than $500 million annually. The survey had a particular focus on companies’ preparedness for new California laws SB 253 and SB 261, which require large companies doing business in the state to report on Scope 1, 2, and 3 greenhouse gas (GHG) emissions and on climate-related financial risks. As climate-related disclosure regulations advance, the survey found that companies are mobilizing to address the new requirements, with 93% of respondents reporting that they have dedicated budgets in place for sustainability reporting and compliance, including 68% with a dedicated budget for sustainability reporting for spend in areas such as hiring staff, investing in technology, and building processes for collecting, reporting and analyzing GHG emissions and other sustainability metrics.[1] |
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See also
- Environmental, social, and corporate governance (ESG)
- Economy and Society: Ballotpedia's ESG newsletter
External links
Footnotes
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
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