Some 73 major U.S. companies recorded material hits to earnings from extreme weather events in just one year.
Some 73 major U.S. companies recorded material hits to earnings from extreme weather events in one year, while supply-chain disruptions from climate change jumped 29% over the past six years.
The report, meant as a best-practices guide for boards and steered by Veena Ramani, Ceres’ senior program director for capital markets systems, stressed the responsibility that boards hold for multiple constituents, including shareholders and the company employees. In the U.S., shareholder support for climate-related resolutions at the companies they invest in hit an all-time high of 30% in the latest proxy filing round, but whether companies are fully responding to investor-driven ESG demands remains a mixed picture at best.
Areas of recommendation in Wednesday’s report include formalizing ESG efforts rather than employing loose goals toward this end, and adhering to complete disclosure in financial filings of material ESG risk.
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