The Advantages and Disadvantages of a Group Company Discretionary Mutual over a Captive Insurance Company
Discover the pros and cons of a Group Company Discretionary Mutual versus a Captive Insurance Company in our latest blog. ...
Companies are increasingly choosing not to publicise their climate targets, in order to avoid scrutiny and allegations of greenwashing.
A survey of 1200 companies in 12 countries by South Pole, a Swiss carbon finance consultancy, has revealed that a quarter of them would not publicise their net zero science-based emissions targets and other sustainability goals, in a growing trend termed green-hushing.
The large number of ESG-related lawsuits against companies such as Total, Delta Airlines, Shell, Tesla and several others, has prompted some companies are now choosing not to communicate their sustainability goals.
Green-hushing has been around since at least 2017 but has become more widespread after the publications of South Pole’s report, in October 2022.
The integrity of the frameworks used to measure sustainability is also under scrutiny. The Science Based Targets Initiative is facing complaints about governance and conflicts of interest, as it charges companies to assess their climate targets. Companies are also unsure of when to announce their achievements, and how to justify their focus on certain aspects of sustainability and have a credible message to convey.
Larger companies in particular can avoid greenwashing litigation by not reporting extensively on their sustainability targets and achievements, as highlighted by Dasani’s claim that its water bottles are 100% recyclable.
South Pole also found that although companies may not be communicating their sustainability and climate achievements and plans, they are still forging ahead with achieving their targets. Three-quarters of the companies surveyed have increased their net-zero budgets since December 2021, and many are also hiring new staff and training their sustainability teams. One-third of the surveyed companies admit not being on track, and plan to increase their efforts significantly, in order to achieve their targets.
Prospect is a multi-disciplinary practice with specialist expertise in the energy and environmental sectors with particular experience in the low carbon energy sector. The firm is made up of lawyers, engineers, insurance and risk management specialists, and finance experts.
This article remains the copyright property of Prospect Law Ltd and neither the article nor any part of it may be published or copied without the prior written permission of the directors of Prospect Law.
This article is not intended to constitute legal or other professional advice and it should not be relied on in any way.
Further Reading
Discover the pros and cons of a Group Company Discretionary Mutual versus a Captive Insurance Company in our latest blog. ...
Prospect Law Life Sciences – Article 22, EU Merger Regulation 139/2204 Illumina Inc’s proposed acquisition of Grail Inc, which it had spun ...
After consultation with members and stakeholders, the Code of Practice 2021 has been agreed. The current version from 2019 will be replaced ...
Prior to commenting on theRuling of the EUCJ of 11 December 2018 and the reaction of the BvfG whichfollowed on 5th May 2020, ...
HinkleyPoint C (HPC) is a nuclear power station based on the French EuropeanPressurised Reactor design, code-named the EPR1. The project ...
In this article, Dominic Whittome covers recent changes to wholesale energy prices. Crude Oil Oil fell 15% over the last two ...