Corporate sustainability reports are getting longer
Add Axios as your preferred source to
see more of our stories on Google.


ESG has long been misunderstood and thus weaponized. As one corporate affairs leader said at a Climate Week lunch, "If we're using acronyms, we're losing."
Why it matters: In response, communication teams are finessing how these commitments are messaged and shared.
By the numbers: Executive advisory firm Teneo analyzed 250 sustainability reports from S&P 500 companies published between Jan. 1 – July 30 and found that while ESG reports very much live on, the pomp and circumstance surrounding their launch is dwindling.
- Less than half of the companies issued a press release to accompany the report, compared to the 75% that did so in 2021, and only 14% provided an executive summary of their reports, down from the 26% in years prior.
- Instead, more companies are investing in sustainability-focused micro-sites within their corporate websites.
Zoom in: According to the study, these ESG reports are getting longer — as attention spans are getting shorter — with most averaging 83 pages long.
- That's a 20% increase compared to the reports from 2021.
- The shortest 2024 report came in at 15 pages, while the longest was 211 pages.
The intrigue: Language has evolved as well. "Sustainability" overtook "ESG" as the most common key word within report titles, while the mention of "impact" nearly doubled since last year.
- 94% of companies continued to use the term "DEI" within reports, and the remaining 6% focused more broadly on themes of belonging and inclusion.
- Of note: Fewer companies are including a section highlighting the progress they've made toward reaching their goals than in years past, according to the report.
What they're saying: "ESG has been highly politicized. The term has been co-opted, and yet there is a lot of new EU regulation coming out," says Martha Carter, vice chairman and head of governance advisory at Teneo.
- "It's really about companies looking at this from a broader global perspective, and not just complying with regulatory components, but looking at it from a stakeholder assessment and from a business perspective."
What to watch: Roughly 1 in 5 mention the responsible use of AI in their 2024 reports.
- There are ethical and environmental considerations when it comes to AI. Expect to see more reporting as companies incorporate it into their work flows.
More on Axios: Why ESG isn't going away, despite all the noise
