General counsels weigh in on ESG

Here are the highlights from the annual survey of general counsels conducted by Morrison Foerster and Corporate Counsel:

• Though C-suite leaders make up the largest group steering ESG strategy, in-house legal departments and GCs are increasingly becoming more involved.
• Governance is regaining more attention in organizations.
• DEI and climate-change issues remain key factors among KPIs tied to executive pay.
• More organizations, almost one-quarter in 2024, are changing or not using the term ESG. Yet more than half say they are not encountering ESG backlash.
• Confidence that organizations have a comprehensive ESG program fell significantly. But confidence is highest when organizations conduct materiality assessments that weigh priorities, goals, and risks.
• Far fewer companies, including those that are publicly held, provide ESG disclosures.
• Almost half, about double from the year before, say their internal stakeholders do not know how to “own” ESG as part of the company culture.