The CAQ’s review of S&P 500 publicly available* ESG disclosures as of 2022 fiscal year-end revealed these key takeaways:
ESG disclosure nearly universal—Nearly all companies disclosed some level of ESG information.
ESG frameworks and standards—Most companies referenced at least one ESG reporting framework or standard and a majority of companies referenced three, with the most commonly referenced frameworks being SASB, the TCFD, and the GRI:
Some companies fully adopted their referenced frameworks or standards, some adopted in part, and others used the frameworks or standards as a reference to inform their own disclosure approach.
Assurance—More than two-thirds of companies that reported ESG information in 2022 disclosed some form of assurance or verification over certain of their ESG metrics, most commonly: (i) from providers other than public company auditors (79%); (ii) relating to GHG emissions and one to three additional ESG metrics (e.g., water, energy, waste); and (iii) at a limited assurance level.
Most of the data is compared to 2021 and 2020 data for purposes of understanding reporting and assurance trends.
* ESG reports, company websites, completed CDP Questionnaires, and third-party assurance or verification reports
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This post first appeared in the weekly Society Alert!