- Deloitte’s recently published “Emerging Trends in ESG Governance for 2023” report focuses on the primary oversight responsibility for ESG in S&P 500 companies
- The graph below shows the primary committee responsible for ESG governance based on proxy research of S&P 500 companies
Source: Deloitte
Key Findings…
- In 2022, only 3% of S&P 500 companies did not disclose their overall ESG board governance approach, down from 14% in 2021
- While the nomination and governance committee is commonly responsible for ESG, some companies are allocating ESG oversight responsibilities to other committees/full board
- A multicommittee/board ESG framework is on the rise with 51% of the S&P 500 companies stating that that either a) the full board combined with a committee(s) or b) multiple committees have responsibility for overseeing aspects of ESG activities
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