Coalition Greenwich Announces Launch of Sustainability Tracker for Corporate Banking
Many large companies that have adopted net-zero and other sustainability targets have yet to allocate meaningful resources to meet those goals.
Companies around the world are moving quickly to adopt net-zero and other sustainability objectives. However, new data from Coalition Greenwich shows that when it comes to actually committing the resources needed to meet these goals, companies are moving considerably slower.
Approximately 60% of large corporates in major markets in Asia, Europe and the U.S. have adopted net-zero targets or other sustainability goals, according to the Sustainability Tracker for Corporate Banking—a new tool that provides companies and banks with insights and benchmarking data to help them maximize financial returns and impact by making better and more-informed decisions about sustainability.
“Regulation is the primary reason companies are adopting net zero and other sustainability targets,” says Melanie Casalis, Research Director at Coalition Greenwich and author of Benchmarking Sustainability: Data and Insights for Companies and Banks. “However, companies cite additional motivations, including pressure and new requirements from shareholders, reputational risk and a desire to become more attractive to potential employees.”
Despite these strong intentions, companies have been relatively hesitant to allocate resources to support these strategies and to make their businesses and operations more sustainable. Only about half of these corporates have dedicated capex spending to support sustainability strategies, and approximately 40% have dedicated operating expenses to meet net-zero and sustainability targets.
“One way for companies to stimulate spending and kick-start sustainability programs into action is to tie remuneration for board members and senior management teams to progress on sustainability targets,” says Melanie Casalis. “To date, only a third of large companies we spoke to globally have taken that step.”
Coalition Greenwich Sustainability Tracker for Corporate Banking
In 2023, Coalition Greenwich launched the Sustainability Tracker for Corporate Banking, a product designed to help companies select and implement the right sustainability strategies and methodologies, and to help banks understand companies’ sustainability progress, product usage and level of sophistication.
Benchmarking Sustainability: Data and Insights for Companies and Banks introduces the new Sustainability Tracker for Corporate Banking and shares key insights and benchmarking data for companies and banks.
