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SEC Newgate’s Global ESG Monitor 2024

esg monitor
By Imogen O'Rorke
17 October 2024
Corporate Reputation
Green & Good (ESG and Impact)
News

Companies must do more, as expectations of people and investors have reached it's highest point.

Whether you love or you hate the term ESG (and the haters have been pretty vocal during this global ‘Year of Democracy’), the wider public still expect governments and big business to meet high standards on environmental, social and governance issues. Published yesterday, the latest SEC Newgate ESG Monitor (a survey of more than 14,300 people across 14 countries and territories) shows the gap between public expectations on ESG-related behaviour and (perceived) performance is widening.

Predictably, there are strong expectations from the public on governments to act responsibly on ESG issues (58% gave this an importance rating of 9 or 10 out of 10). The majority (54%) said the same for large corporations but were prepared to cut SMEs more slack (37%).

Diving into the detail, some important new trends have emerged. Consumer demand for business to be responsible, transparent and accountable, alongside profitability, is growing, with 78% saying companies should act in the best interests of all stakeholders rather than prioritising shareholders. This was also true for the vast majority of investors (71%). 

Bucking the trend for greenhushing and ESG backsliding - where companies dial down or even withhold their ESG disclosures for fear of being called out as greenwashers - quite a large majority (65%) of the public believe companies should play a more active role in society and ‘speak out’ on social and environmental issues that are relevant to their business.

Pulling focus on the UK,  the ‘Responsible Business’ trend is cutting through and resonating with the general public (far more so than ‘ESG’). A decisive majority of three quarters say that it’s important that large companies conduct their business in responsible ways, with younger generations in particular wanting to see more companies be active ‘corporate citizens’. The reality is, however, less than half believe large companies are taking responsibility today.

Read the global summary here:  Global Report 2024 - Reports - ESG Monitor | SEC Newgate