More than 80% of U.S. companies are implementing net-zero programs without waiting for legislation to go into effect, a survey by EcoOnline reveals. This proactive approach shows a strong commitment to sustainability among companies, with a majority of business leaders viewing sustainability as a growth driver and a brand asset.
In California, the largest companies are required to make public their financial risks linked to climate
In 2023, the US state of California implemented ambitious measures intended to preserve the climate, marking a turning point for big business. SB 253 requires companies with annual revenues of more than $1 billion to disclose their greenhouse gas (GHG) emissions, or face fines of up to $500,000. Additionally, SB 261 requires companies generating more than $500 million to publicly disclose climate-related financial risks, with penalties of $50,000 per violation.
In the face of these new obligations, American companies are taking a proactive stance. According to a survey by EcoOnline, 73% of American business leaders see sustainability as an opportunity for revenue growth, and 94% believe it strengthens their brand value. Integrating sustainability into a company’s values and daily operations helps protect against market and regulatory changes, while meeting the growing expectations of consumers and investors.
In 2 out of 5 companies, sustainability efforts are led by the CEO or board
The role of leadership in sustainability initiatives is also highlighted by the survey. About 40% of business leaders say their sustainability efforts are led by their CEO or board of directors. However, despite a clear intention to increase budgets allocated to sustainability – 85% of companies have this project – only 25% have managed to make these budgets a funded and supported priority at the highest level of the company.
Finally, the survey reveals that 84% of companies plan to deploy sustainability software to meet legislative requirements. These technological solutions automate the collection, analysis and reporting of ESG (environmental, social and governance) data, facilitating compliance with new regulations, while meeting investor expectations and effectively communicating on sustainability performance.
