INSIGHT #3
Sustainability initiatives would still progress in the absence regulatory requirements
KEY FINDING
0% of respondents say they are waiting for climate and sustainability laws to be enacted before building a sustainability program or team.
Notably, all respondents indicated that even without California's requirements to collect, disclose, and report on Scopes 1, 2, and 3 GHG emissions and climate-related financial risk, their company would continue to build their sustainability programs and strategies.
Moreover, as organizations increasingly frame sustainability in terms of business value, they expect to compete with each other to engage target audiences. As indicated by some respondents, competition is a far more compelling and effective driver of progress and can drive even more investment, innovation, and commitment.
"In a competitive market, sustainability sets a brand apart, appealing to consumers who value good practices."
Manager, Environmental, Social & Governance at company with more than $1B in annual revenues
Companies would still advance their sustainability efforts without regulations, but most are still in the early stages
When asked what they would do if California were not requiring data collection, reporting, and adherence to regulations, 0% of respondents said they would wait for regulations to progress their sustainability efforts. However, only 6% of respondents are currently reporting on climate and sustainability performance.
0%
We already report on climate and sustainability performance — regulations won't change this
0%
Build a sustainability program to enhance brand value and our reputation
0%
Assign a dedicated team to make sustainability a priority for the organization
0%
Begin the work to build a sustainability program that anticipates new legislation
0%
