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Study Finds Companies Increasingly Disclosing ESG Information Voluntarily
May 2, 2023A recent academic study covering the period 2010-2021 has found that many companies in the S&P500 currently are providing disclosure on ESG issues, and in the absence of mandated disclosure rules, do so on a voluntary basis. During the time period studied, the percentage of firms releasing voluntary ESG disclosure reports jumped from 35% to 86%. The Study’s authors found that “despite the rapid growth in the percentage of reporting firms, growth in the length of these reports was modest,” with “significant variation across sectors.” They also concluded that “firms with more negative ESG-related incidents and those with shorter 10-K filings are more likely to publish an ESG report, suggesting that these firms do so in response to negative attention and these disclosures serve to augment what is disclosed in regulatory filings.”
