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05 December 2023 / Quick Take
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Copy LinkLarger companies have been at the forefront of renewable energy, but smaller companies are moving quickly in both disclosure and utilization of renewable energy. While only 27% of S&P MidCap 400 companies disclosed their renewable energy use in 2022, their disclosure rates nearly doubled, and their reported median renewable energy use nearly tripled from 2021 to 2022.
The marked uptake among S&P MidCap 400 companies should encourage smaller firms to focus on renewable energy use and disclosure. Nearly half of CEOs and 60% of C-Suite executives worldwide believe that transitioning to renewable energy will yield significant benefits for their organizations, despite concerns about transition costs. And investors should respond positively: while support for environmental shareholder proposals declined markedly in 2023, proposals on renewable energy transition plans received significant support.
Our 2023 report, Large US Firms Make Meaningful Progress on GHG Emissions, provides additional information on the use of renewable energy in companies. And for more statistics on environmental and other ESG disclosures, please visit our Live Dashboards on ESG Advantage, powered by ESGAUGE.
Former Senior Researcher, ESG Center; Sustainabili…
The Conference Board
