Teneo’s review of 250 of the S&P 500 sustainability reports published January 1 through July 30, 2024, revealed noteworthy insights, statistics, and trends.
Noteworthy stats include:
Communications-related
- Average page count has increased from 70 pages in 2021 to 83 pages in 2024.
- The use of press releases to announce the report publication has declined to 49% of companies in 2024 from 76% in 2021.
- Disclosure of ESG microsites has spiked from 27% in 2022 to 95% this year.
- The inclusion of ESG data tables has declined from 75% in 2021 to 54%.
- Reports were most commonly published in April, June, and May (26%, 23%, and 22%, respectively).
- Companies overwhelmingly use or reference SASB (94%), followed by the TCFD (87%), GRI (73%), and UN SDGs (64%).
- External assurance has increased from 53% in 2021 to 62% (on par with last year).
- External assurance providers are most commonly not associated with the Big Four:
- Nearly 80% of reports referenced a materiality assessment, up from 52% in 2021.
- A majority of reports (62%) included a materiality matrix, while 41% included a legal materiality disclaimer.
- Half of companies used a single materiality approach; 22% used a double materiality approach; and 6% indicated they are in the process of conducting a double materiality assessment.
- The percentage of reports including a standalone section on the company’s progress on its ESG goals declined from 46% last year to 36% this year.
- Report cover letters are most commonly from the CEO only.
- Companies most commonly identify their Nom/Gov Committee as having primary board ESG oversight responsibility.
- As shown above, among the management team, CEOs are most commonly tagged with primary ESG oversight responsibility.
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This content first appeared in the Society Alert!