Breaking News
LAST CHANCE for Cyber Monday SALE: Up to 54% off InvestingPro! Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Bulk of S&P 500 embraces sustainable accounting standard, foundation says

Stock MarketsSep 24, 2021 05:11PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. A trader works on the floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., September 24, 2021. REUTERS/Andrew Kelly

By Ross Kerber

(Reuters) - More than half of companies in the S&P 500 now use a common standard from the Value Reporting Foundation to report on topics like carbon emissions and energy management, indicating executives are paying more attention to an area likely to face new regulations soon, a foundation official said.

"The market has already got a lot of momentum in the direction the SEC (U.S. Securities and Exchange Commission) is pushing for," Neil Stewart, director of corporate outreach for the global nonprofit organization, said in an interview.

As of Aug. 31, 324 companies in the S&P 500 used the foundation's standard, up from 201 companies at the end of 2020, according to the group, which is backed by large asset managers including BlackRock Inc (NYSE:BLK) and State Street Corp (NYSE:STT).

The guidance describes how companies in different sectors should disclose environmental, social and corporate governance (ESG) matters.

The standard is also gaining more usage in non-U.S. indexes, the foundation said. Use of a different ESG effort, the Global Reporting Initiative, has also grown, with at least 10,000 users worldwide, a spokesman for the initiative said.

The SEC this year requested public comments on how it might direct companies to report similar material on their climate impact and other areas. Agency officials did not immediately comment on Friday on the status of the review.

In a "sample letter" on its website, the SEC described the sort of questions it asks of companies currently.

These could include questions about litigation risks related to climate change, or requests for companies to explain why statements made in voluntary corporate social responsibility reports are different from those made in SEC filings.

"The takeaway for me is that companies should be taking this as an opportunity to re-evaluate their materiality decisions in climate matters," Covington attorney Matthew Franker said.

Bulk of S&P 500 embraces sustainable accounting standard, foundation says
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email