Shearman & Sterling LLP 3 | Introduction
Does the Company Set a Reduction Target that is Different
from Net Zero?*
3
6
2
7
2
1
15% – 25% reduction
30% reduction
40% – 49% reduction
50% – 60% reduction
70% – 75% reduction
Upstream net zero
Yes
21
* Some companies set multiple
target date ranges.
a key risk as cyberattacks and data breaches
have become more sophisticated, complex
and prevalent. Discussions of corporate social
responsibility and stakeholder capitalism have
led to an increasing focus on the numerous
social impacts public companies have and have
led to new and complex challenges for boards,
complicated by political polarization and the
prevalence of social media. The governance
challenges in this new era are immense,
and the stakes have never been higher.
Against this backdrop, the SEC has, in the
last 12 months, been extremely active. It has
issued numerous rule proposals that would
require disclosures that implicate significant
governance issues, including mandating
disclosures about climate and cyber-related
risks and related governance processes.
The climate-related disclosures, in particular,
are among the most comprehensive and
prescriptive rules the SEC has proposed in
recent memory and will present unique and
challenging issues for companies as they
strive to meet the demands of investors
with meaningful and accurate disclosures
on the potential impacts of climate change
and to make progress against commitments
for a sustainable future. A number of these
developments are discussed in detail in
our insights in this 20th anniversary edition
of our Survey.
