Crowell & Moring recently surveyed 225 in-house counsel and compliance, ESG and sustainability professionals.
According to the report, 78% of businesses identified and implemented environmental performance goals. However, less than 50% monitor performance against the marked goals – and some experience challenges adapting to them.
44% reported their Companies are assessing carbon footprint, and 13% said they measure environmental impact on ethically and racially diverse communities continually. The top motivating factors for adopting environmental goals; Brand image and reputation, market competitiveness, and pressure from investors and stakeholders
Energy consumption and renewable energy solutions (54%), product recycling (49%), and waste reduction and recycling (46%) are the top environmental factors measured. Most companies (59%) update their environmental goals or performance on their website. Also, 45% of brands have implemented "strategic business decisions" since President Biden took office.
[5 minute read]