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TheCorporateCounsel

TheCorporateCounsel.net

A basis for research and practical guidance focusing on federal securities laws, compliance & corporate governance.

DealLawyers

DealLawyers.com

An educational service that provides practical guidance on legal issues involving public and private mergers & acquisitions, joint ventures, private equity – and much more.

CompensationStandards

CompensationStandards.com

The “one stop” resource for information about responsible executive compensation practices & disclosure.

Section16.net

Section16.net

Widely recognized as the premier online research platform providing practical guidance on issues involving Section 16 of the Securities Exchange Act of 1934 and all of its related rules.

PracticalESG

PracticalESG.com

Keeping you in-the-know on environmental, social and governance developments

With summer officially over, our thoughts turn to football, Halloween, the upcoming holidays – and corporate budgeting for the new calendar year. According to a 2021 study from Verdantix, ESG budgets in companies were predicted to grow substantially going into 2023 – but the survey was conducted prior to this uncertain economic time.

Data from the new Verdantix Global Survey: ESG & Sustainability Governance, Budgets, and Priorities 2021 [downloadable for a fee] – collected from interviews with 400 leading corporate ESG and sustainability decision makers – has revealed that 57% of firms are expecting impressive double digit increase in budgets in 2022. Further analysis reveals that corporate spending is set to focus on initiatives relating to supply chain and climate change management….

This pressure is the result of increasing regulation concerning supply chain management, such as the EU Waste Framework Directive, and from stakeholder interest in supply chain performance…

Concurrently, sustainability initiatives linked with climate change related issues are set to receive considerable investment in the near future, according to 40% of survey participants.  

Those are impressive predictions, but the new reality may threaten them. Many companies are tightening their belts due to inflationary shocks, continuing supply chain constraints and wildly unpredictable capital markets. The struggle between meeting ESG commitments and corporate spending will be a bigger issue than ever this budgeting season.

We have member-exclusive tools and resources to help you strengthen your position in budgeting for your ESG program, including checklists on Budgeting for Your DEI Initiative, Economic Opportunities for Environmental Improvements and Fighting ESG Fatigue. If you aren’t already a member with access to our checklists, podcasts, guidebooks, sample disclosures and other resources, sign up now and take advantage of our no-risk “100-Day Promise” – During the first 100 days as an activated member, you may cancel for any reason and receive a full refund.

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The Editor

Lawrence Heim has been practicing in the field of ESG management for more than 35 years. He began his career as a legal assistant in the Environmental Practice of Vinson & Elkins working for a partner who is nationally recognized and an adjunct professor of environmental law at the University of Texas Law School. He moved into technical environmental consulting with ENSR Consulting & Engineering at the height of regulatory development, working across a range of disciplines. He was one… View Profile