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The state of sustainability and ESG in 2023 can be described in two words: progress and confusion.
To help companies make sense of the progress and avoid confusion, Nasdaq recently leveraged our own, newly-launched Nasdaq Sustainable Lens® to review, analyze, and summarize sustainability and ESG reports, financial filings, and other ESG documents[1] published over the past three years. The team also leveraged AI and internal subject matter experts to analyze regulatory text and surface common disclosure requirements in final and proposed sustainability, ESG, and climate regulations.
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To help companies make sense of the progress and avoid confusion, Nasdaq recently leveraged our own, newly-launched Nasdaq Sustainable Lens® to review, analyze, and summarize sustainability and ESG reports, financial filings, and other ESG documents[1] published over the past three years. The team also leveraged AI and internal subject matter experts to analyze regulatory text and surface common disclosure requirements in final and proposed sustainability, ESG, and climate regulations.
The Nasdaq team’s research indicates:
1. Global Standards Picture Became Clearer in 2023 (But Confusion Still Remains)
Climate is the one area in which regulators are generally aligned—45% of the final and proposed rules and regulations that we reviewed are climate-focused.
2. Climate Reporting Gaps Abound
Only 44% of the companies analyzed provide climate-related disclosures aligned with the CSRD, sustainability and climate-related standards, and the SEC’s climate-related proposed rules.
3. Human Capital is a Tale of Two Cities
Human capital disclosures are an area where companies reviewed are both leading and lagging in current disclosures.
4. Governance Through a New Lens Surfaces Gaps
The recently issued ESRS under CSRD governance disclosure standards surface gaps for companies.
5. “ESG” Continues to be Widely Used
“Sustainability” is the most used report name globally and “ESG” also doesn’t seem to be going away.
Nasdaq Sustainable Lens
In response to trends and technology advancements, Nasdaq has developed Nasdaq Sustainable Lens, an ESG intelligence platform that harnesses the power of AI to help companies make better decisions faster, boost productivity, and enhance credibility.
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In response to trends and technology advancements, Nasdaq has developed Nasdaq Sustainable Lens, an ESG intelligence platform that harnesses the power of AI to help companies make better decisions faster, boost productivity, and enhance credibility.
The State of Sustainability and ESG in 2023
Download the full report for insights and best practices to prepare for 2024 from Nasdaq
Click the link to view the full report.
[1] Includes Task Force on Climate-Related Financial Disclosures (TCFD) reports, Sustainability Accounting Standards Board (SASB) indices, Global Reporting Initiative (GRI) indices, and policy documents
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[1] Includes Task Force on Climate-Related Financial Disclosures (TCFD) reports, Sustainability Accounting Standards Board (SASB) indices, Global Reporting Initiative (GRI) indices, and policy documents
