Majority of U.S. Corporations Embrace Sustainability: Over 80% Drive Net-Zero Efforts Ahead of New Climate Law

On August 15, 2024, EcoOnline published survey results showing that over 80% of large U.S. companies are on a significant shift towards integrating sustainability and actively working on net-zero programs in advance of binding climate legislation. Notably, none of the surveyed firms are delaying sustainability efforts until laws are in place. Highlights of the survey results include:

· Companies are preparing for California's new climate laws (SB 253 and SB 261) that mandate greenhouse gas emission disclosures and climate risk reporting.*

· 73% view sustainability as a revenue driver, while 94% believe it enhances brand value.

· 85% plan to increase their sustainability budgets within the next three years, with 25% having fully funded and prioritized these budgets.

· 84% intend to use specialized software to meet compliance requirements.

* SB 253 requires U.S. companies doing business in California with over $1 billion in total annual revenues to disclose GHG emissions while SB 261 requires those companies with over $500 million in total annual revenues to report climate-related financial risks.