New Report Reveals Corporate Response to Escalating Climate Governance Demands

Climate Decoded is on summer break this week and will return September 12th. In the meantime, our readers should embark on their summer reading, including the latest report from the Society for Corporate Governance and Persefoni. Drawing insights from a May 2023 survey of Society members, the report encompasses a diverse array of 98 public companies, representing various sizes and sectors. Corporate secretaries, legal experts, and governance professionals constitute the respondent pool. 

Key findings from the survey underscore the escalating preparedness of corporations: 

• 90% exhibit established controls for climate and environmental metric monitoring and reporting
• Impressively, 60% acknowledge limited assurance, with a notable 6% securing reasonable assurance
• Additionally, the report spotlights the allocation of oversight responsibilities; a significant 63% designate the nominating/governance board committee as the vanguard for climate and environmental affairs.

Events You Can't Miss

• Join the diverse coalition supporting the California climate bills SB 253 and SB 261 at the Corporate Accountability rally this Wednesday, August 23rd, in Sacramento, California. The bill’s authors and cosponsors, Senator Scott Wiener, Senator Henry Stern, Assemblymember Tasha Boerner, Carbon Accountable, Ceres, Patagonia, and The Greenlining Institute, will be delivering statements as California advances their opportunity to lead on corporate transparency and accountability. 
• Discover the significant impact of climate change on the insurance sector during our upcoming webinar on September 7th, 2023 at 2 PM EST. Join experts from Ceres, ERM, and Persefoni as they delve into research findings on the industry's exposure to fossil fuel-related assets and discuss the urgent need for resilience-building actions and transitioning to a low-carbon economy. Register now and save your spot.
• Join us for the Workiva Amplify North America conference in Nashville from September 19–22nd, 2023. This event brings together accounting, finance, ESG, audit, and risk professionals, offering thought-provoking sessions, peer networking, and an exclusive look at the latest developments from Workiva and partners. Gain insights into ESG reporting trends, learn from world-class organisations, and earn CPE credits. Register now.