Fewer than 1% of private companies disclose climate impacts
While nearly two-thirds of publicly traded companies track and report their emissions, fewer than 1% of privately held companies do the same, according to a new report from Bain & Company.
Why it matters: It's no surprise that private companies make fewer disclosures than public companies — but the massive gap in reporting on environmental impacts is eyebrow-raising.
- Public pressure, including calls for environmental disclosures, only go so far.
The details: The report draws on data from CDP, a nonprofit that runs an environmental disclosure system.
Driving the news: Private companies aren't entirely ignoring climate change or their companies' environmental impacts.
- 88% of companies told CDP that they have "appointed someone with responsibility for climate strategy."
- Yet fewer than a third have instituted any management incentives for reducing their companies' environmental impacts — and less than half identified any material risks related to their environmental impacts.
Of note: 37% vs. 73%: The share of private companies and public companies, respectively, that have set emissions targets.