Deloitte: 99% of listed companies invest in ESG reporting
99% of listed companies expect to invest in ESG reporting technology and tools over the next 12 months, according to accountant and consultant Deloitte in a recent survey.
Executives at major US companies are rapidly stepping up their sustainability reporting efforts, with almost all companies actively investing in ESG data and reporting technology and assigning new ESG-focused functions internally to meet increasing stakeholder demand and impending regulatory requirements, according to a new survey by global professional services firm Deloitte.
For its new "Sustainability Action Report", Deloitte commissioned an online survey of 300 senior finance, accounting, sustainability and legal executives, and conducted interviews at listed companies with revenues of more than $500 million in sectors such as consumer products, financial services, life sciences and healthcare, oil and gas, and technology, media and telecommunications.
The report shows a clear recent increase in momentum for implementing sustainability strategies and expanding ESG reporting initiatives compared to a similar survey conducted by Deloitte earlier this year. Notably, the US Securities and Exchange Commission (SEC) published its climate disclosure proposals for public companies shortly after the publication of the earlier survey.
The increasing focus on ESG includes investments in capabilities as well as human capital. The survey found that more than half (57%) of companies have already established a cross-functional working group to drive strategic attention to ESG, while almost all other companies (42%) plan to follow suit, while in the earlier survey only 21% had established such a working group.
Click here to view the results.