UN-HUSHING THE GREEN-HUSHING
According to recent research from South Pole, 76% of heavy-emitter businesses surveyed across 12 different countries and multiple sectors have science-based targets supporting their net-zero commitments, but nearly one-quarter will not tell anyone about their efforts. The consequences? Corporate climate targets are harder to scrutinize, and knowledge transfer and collaboration is limited.
According to the Wharton School of the University of Pennsylvania, green-hushing is becoming more common in today’s highly charged political and social climate. Companies may face a backlash if stakeholders find their plans are not ambitious enough or investors deem company efforts undermine profits and thereby returns. Wharton concludes that a lack of a single method of data collection or measurement (standardization) often leads to confusion and greater incentive not to share information.
Last week, the World Economic Forum said the reports raise concerns that green-hushing will lessen transparency and hinder climate ambition.