September 24, 2021
(Reuters) – More than half of S & P 500 companies use common standards in Value Reporting Foundations to report on topics such as carbon emissions and energy management. Foundation officials said.
“The market is already gaining momentum in the direction the SEC (US Securities and Exchange Commission) is pushing,” Neil Stewart, director of corporate outreach, a global nonprofit organization, said in an interview. ..
As of August 31, 324 S & P 500 companies are using Foundation standards, up from 201 at the end of 2020, according to groups backed by major asset managers such as BlackRock and State Street.
This guidance describes how companies in different sectors should disclose environmental, social and corporate governance (ESG) issues.
According to the Foundation, the standard is now being used in indices outside the United States. According to a spokesman for this initiative, the use of another ESG initiative, the Global Reporting Initiative, is also expanding, with at least 10,000 users worldwide.
This year’s SEC asked for public comments on how to instruct companies to report similar material on climate impacts and other areas. Authorities did not immediately comment on the status of the review on Friday.
In a “sample letter” on its website, the SEC described the types of questions it currently asks companies.
This requires companies to explain questions about climate change-related litigation risks and why the statements contained in the company’s Voluntary Social Responsibility Report differ from those stated in the SEC Filing. Is included.
“The point for me is that companies should see this as an opportunity to reassess their decision of importance in climate issues,” said Matthew Flanker, a lawyer at Covington.
(Report by Ross Kerber in Boston, edited by Sonya Hepinstall)
The Foundation states that the majority of S & P 500 employ sustainable accounting standards.
Source link The Foundation states that the majority of S & P 500 employ sustainable accounting standards.