1Q 2024

Analyst Insight: Megatrends in Sustainability Reporting

Corporate Sustainability Tracker Insights

2023 and 2024 are shaping up to be monumental years for sustainability reporting and regulations. The European Union’s (EU’s) Corporate Sustainability Reporting Directive (CSRD), California’s Senate Bill (SB) 261, and the impending U.S. Securities and Exchange Commission (SEC) ruling have put a spotlight on the corporate sustainability reporting scene. As companies adapt to new regulations, their climate targets are becoming more aggressive, and the amount of climate data being reported is rising. The vast majority of Fortune 500 companies are now reporting Scope 1 and 2 emissions, and the focus of companies at the forefront of sustainability is shifting toward Scope 3 emissions and issues related to “double materiality” such as biodiversity.

The 1Q 2024 edition of the Guidehouse Insights Corporate Sustainability Tracker compares Scope 1, 2, and 3 emissions as reported by 300 selected companies across 20 industries, for the years 2018 through 2022. It includes sustainability goals that companies have established, such as dates for net-zero/carbon-neutral targets, science-based targets, and achieving 100% renewable electricity. New in this edition, the Tracker reports progress toward achieving 2030 targets and the value of emissions reductions needed to meet those targets.

This accompanying Analyst Insight documents the Tracker’s most recent findings, including top-performing industries for Scope 1, 2, and 3 reporting and target setting, and corporate sustainability drivers and barriers. It evaluates which industries have focused most on Scope 3 emissions, where industries have additional opportunities for improvement, which industries have the highest emissions, and which industries have the greatest need for sustainability services. Finally, the report analyzes major trends, including the evolving nature of sustainability reporting/regulations, the rise in nature-based reporting, and innovative solutions for reporting Scope 3 emissions. The report concludes with recommendations for companies and other key stakeholders.

Pages 14
Tables | Charts | Figures 5
  • Which industries have the greatest need for sustainability/emissions reduction services?
  • Which industries are making good progress toward their emissions reduction targets?
  • Which industries generate the greatest scope 1, 2, and 3 emissions?
  • How do the U.S. SEC, California, and EU climate reporting rules intersect?
  • What is the role of nature and biodiversity in the future of climate risk and reporting?
  • Which industries currently report their Scope 3 emissions?
  • Energy service companies
  • Fortune 500 companies
  • Corporations
  • Governments
  • Emissions reporting companies
  • Corporate investor community
  • Investors
  • Think tanks
  • Research institutes



Executive Summary

Market Drivers and Barriers

Scope 1, 2, and 3 Emissions

Evolving Regulatory Landscape

Increasing Focus on Biodiversity and Nature

Scope 3 Reporting Spotlight

Key Recommendations

Acronyms, Resources and Contact

  • Industry-Averaged Scope 1 and 2 Emissions: 2018-2022
  • Scope 3 Reporting by Industry: 2018-2022
  • Scope 3 Carbon Intensity by Industry: 2022
  • Industries with the Most Companies Committed to TNFD as of 1Q 2024
  • Scope 3 Reporting across All Industries: 2018-2022
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