Each week, Verdict’s journalists pick out insights from company filings that highlight sentiments in our sector. These filings signals are based on GlobalData’s analysis of earnings statements, call transcripts, investor presentations and sustainability reports. They tell us about key topics on the minds of business leaders and investors, and the themes driving a company’s activities.
This new, thematic filings coverage is powered by our underlying Disruptor data which tracks all major deals, patents, company filings, hiring patterns and social media buzz across our sectors.
Mentions of environmental, social and governance (ESG) in company filings decreased 85% compared to figures just last year, according to GlobalData analytics.
Despite being mentioned in company filings over 786,934 times in Q3 last year, ESG was only acknowledged 115,363 times this quarter.
Specific mentions of climate change also dropped in this quarter’s filings, from 193,424 to 31,094 despite seeing a rise in the first and second quarters of this year.
According to a survey by GlobalData in Q2 of 2023, only half of respondents knew whether their company had any ESG policies, which shows little progression from the first quarter survey where 55% of respondents knew.
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It’s survey also showed that 47% of respondents believed that companies treat ESG policies like marketing rather than proactive responsibilities.
With high inflation being named as the biggest concern for 50% of companies polled by GlobalData, ESG and climate concerns are lagging.
After companies such as Microsoft and JP Morgan have switched to carbon storage instead of offsetting to claim carbon neutrality, they must act in a way that is eco-friendly and not just green washing.
GlobalData’s 2023 thematic report into ESG 2.0 forecasts that the US will become the biggest investor in clean climate business practices.
The Biden administrations Inflation Reduction Act (IRA) is the largest landmark climate policy, promoting the US’ transition to clean energy. It will direct $400bn into American clean energy and electronic vehicle supply chains and manufacturing.