Over on TheCorporateCounsel.net last week, Meredith wrote about ISS announcing the results of its 2023 benchmark policy survey. ISS received responses from 239 investors and 216 non-investors, including public companies, board members and their advisors.
“The results summary details a number of key findings on E&S matters. One question sought to address whether investors would give companies a pass for reducing their transparency on E&S topics in light of recent ESG backlash. Investors overwhelmingly (85%) responded that the risk of reduced transparency is greater than the risk of political backlash and that they would not tolerate reduced disclosure, even on politically sensitive topics. 49% of non-investor respondents agreed!”
If you were thinking about abbreviating your corporate ESG report in response to the anti-ESG movement, you should rethink that strategy. Not only are investors likely to respond negatively to such a move, but others – such as customers, regulators, ratings organizations, NGOs and probably the media – won’t be too happy either. It’s best to stay on course in improving your ESG reporting.
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