Annual report analyzing the state of corporate purpose & ESG landscape finds 31.6% growth in companies’ net-zero emissions targets
Submitted by CECP
NEW YORK, April 26, 2022 /CSRwire/ - On the heels of newly proposed environmental and social governance (ESG) disclosure requirements from the SEC, a new Chief Executives for Corporate Purpose® (CECP) Investing in Society report finds ESG related corporate data disclosures are increasing. And yet despite progress around environmental metrics and governance practices, the study found workforce and board diversity are lagging.
The study, an annual report on the state of corporate purpose that companies use to benchmark their goal setting and disclosures, found companies are adapting very quickly to setting net-zero and carbon-neutrality goals. For example, Fortune 500 companies with net-zero emissions targets rose from 2.9% in 2018 to 31.6% in 2020. The study also confirms that COVID-19 negatively impacted females in the global workforce, with women’s representation in management barely increasing from 29% in 2018 to 30% in 2020; and 36% of women in the workforce in 2018 and 36.95% in 2020. Other key findings include:
Investing in Society analyzes the latest trends in ESG metrics for companies in the Fortune 500. The report summarizes these findings through three tools, including the CECP ESG Scorecard; CECP’s ESG Factor Analysis; and a breakdown of each Key Performance Indicator (KPI) in the scorecard with an analysis of the three-year (FY 2018-2020) median performance on each metric, which is enhanced by CECP’s thought leadership and a review of sector-wide opinion and research.
“With the SEC guidance looming, companies that do not feel confident in their ESG reporting need a fast-track way to get on board,” said Jenna Moore, Manager, ESG & Sustainable Business Insights, CECP. “CECP’s Investing in Society provides a playbook for what counts, including where companies are making progress and where there is work to be done. It helps companies really focus when expectations are now at their highest."
As companies face increasing pressure from investors, customers, society, and government, there will also be heightened expectations to demonstrate forward-looking goals and policies that create net positive environmental and social impact. CECP helps organizations navigate the evolving ESG landscape by providing research, benchmarking, and tools, such as the Long-Term Plan Framework to guide companies in setting long-term goals to make a positive social impact..
The 2022 edition of Investing in Society is available for free on cecp.co.
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About Chief Executives for Corporate Purpose (CECP)
Chief Executives for Corporate Purpose® (CECP) is a trusted advisor to companies on their corporate purpose journeys to build long-term sustainable value and tell their impact stories. Working with CEOs and leaders in corporate responsibility, sustainability, foundations, investor relations, finance, legal, and communications, CECP shares actionable insights with its CEO-led coalition to address stakeholder needs.
Founded in 1999 by actor and philanthropist Paul Newman and other business leaders, CECP is a movement of more than 200 of the world’s largest companies that represent $11.2 trillion in revenues, $23 billion in total community investment, 14 million employees, 30 million hours of employee engagement, and $21 trillion in assets under management. CECP helps companies transform their strategy by providing benchmarking and analysis, convenings, and strategy and communications in the areas of societal/community investment, employee engagement, environmental social governance/sustainable business, diversity equity inclusion, and telling the story.
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The Committee Encouraging Corporate Philanthropy (CECP) is the only international forum of business leaders focused on increasing the level and quality of corporate philanthropy. Membership includes more than 180 global CEOs and chairpersons of companies that collectively account for more than 40% of reported corporate giving in the United States. Membership is by invitation and is renewed annually.
CECP provides member companies with peer-to-peer executive convenings, premier networking events for corporate giving industry professionals, cutting-edge research publications, a proprietary, on-demand benchmarking system of corporate philanthropy data, and exclusive media opportunities.
Founded in 1999 by actor and philanthropist Paul Newman, together with John Whitehead, Peter Malkin, and other business leaders, CECP continues to inspire and challenge leaders in the private sector to find innovative ways to fulfill unmet social needs and to lead the way towards better alignment of business and social strategies.
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