S&P Global reported on the prevalence of emissions disclosure among US companies based on a consistent sample of nearly 2,600 companies across sizes since 2018.
While there has been a steady rise in disclosure of Scopes 1 and 2 GHG emissions since 2018, less than half of companies had disclosed Scope 1 or Scope 2 (even in part), at 47% and 45% of companies, respectively, as of full year 2022.
Prevalence of disclosure varies widely by industry, with disclosure prevalence of both Scopes 1 and 2 being highest among Materials and Utilities sector companies (70%+) and lowest among financials, healthcare, and communication services sector companies {ranging from 30% – 34%).
Notably, based on the 2023 S&P Global Corporate Sustainability Assessment, while some companies in every sector view climate transition and physical risks as material*, percentages vary significantly by sector, as shown here:
*Companies could select up to three internal material issues (issues that were material to enterprise value creation) and up to two external material issues (issues that were material in terms of impacting external stakeholders).
Disclosure of Scopes 1 and 2 also varies widely by company size even among the sectors where disclosure among the largest companies is universal or nearly universal. The report provides prevalence data by sector for S&P 500 companies as compared to S&P SmallCap 600 companies.
External assurance rates of Scopes 1 and 2 among all companies are low (~18%), albeit comparatively much higher for large companies (~22%) than small- and medium-size companies (~3%) as of March 2024.