Shelton Stat of the Week
29% of people around the world do research via the internet to know if a product is green. – Eco Pulse®, 2024 (Global)
In 2023, 99% of S&P 500 companies issued an ESG or sustainability report. Given new regulatory guidance, it’s almost guaranteed the 13 remaining holdouts will issue — or already have issued — their inaugural report this year. As reporting for 2024 ramps up in anticipation of the spring 2025 “reporting season,” we have to ask: Is anyone reading all these ESG reports?
First, let’s look at what goes into creating an ESG report. According to an analysis by Taneo published in the Harvard Law Forum on Corporate Governance, the average length of an ESG report in 2024 was 83 pages, a 20% increase over 2021. But not all pages are created equal — some are data-filled tables, others are infographics and many are short-form copy. It’s safe to estimate that between data collection and assurance, content wrangling and design, each page requires an average of 20 hours of work. All told that’s 1,660 hours — or more than 200 8-hour days — of work to prepare a report that is often posted to a website and left alone.
The sighs of relief when an ESG report is complete are audible. But like a delicious, complex entree that isn’t done when it lands on the table, an ESG report is only as good as how well it’s digested. At ERM Shelton, we see launching an ESG report as the start of a communication cycle, not the end. To get the most out of a report, we recommend clients develop a content plan early in the process, so the report can be amplified and leveraged through all available channels. Here are a few ideas:
- Earned Media: Half of ESG reports have a press release to accompany them at launch, often with a headline along the lines of “Company X Releases ESG Report.” Unfortunately, publishing a report hasn’t been news since the first time it happened in 1989, but that doesn’t mean the content isn’t newsworthy. Journalists are still interested in significant progress against ESG goals, innovative new partnerships or programs and unique approaches to tackling our most challenging issues. It’s critical that a press release, and ensuing media outreach, highlight what is new and different about the ESG strategy.
- Digital: All those factoids you collected for the ESG report? They’re perfect for quick hit digital ads that reach your core audience wherever they consume digital media — e.g. Instagram, Facebook or Snapchat.
- Thought Leadership: A materiality assessment, which is often completed in conjunction with an ESG report, provides clear jumping off points for company leadership to advance brand-aligned platforms at conferences or through white papers.
For more info on how ERM Shelton approaches report development and amplification, check out this Trellis (formerly GreenBiz) webinar between Suzanne Shelton and Carrie Ruddy of Trane Technologies. And if you want to get a conversation going about how we can help make your ESG report work harder for you, reach out.