Companies that refuse to disclose ESG data face growing risks of investor hostility. Earlier this year, Future World removed Exxon Mobil from its $6.2bn Legal & General Investment Management funds for failing to meet emissions and reporting targets. Companies that do not lose existing investors may be passed over by new ones in favour of more transparent firms. In February, a group of 88 investors with almost $10tn in assets sent standardised environmental disclosure requests to leading companies. The Workforce Disclosure Initiative, a coalition with over $13tn in assets, also contacted 750 firms in July requesting staff management information.
Companies that refuse to disclose ESG data face growing risks of investor hostility. Earlier this year, Legal & General Investment Management removed Exxon Mobil from its $6.2bn Future World funds for failing to meet emissions and reporting targets. Companies that do not lose existing investors may be passed over by new ones in favour of more transparent firms. In February, a group of 88 investors with almost $10tn in assets sent standardised environmental disclosure requests to leading companies. The Workforce Disclosure Initiative, a coalition with over $13tn in assets, also contacted 750 firms in July requesting staff management information.