{"id":67323,"date":"2024-08-15T12:00:00","date_gmt":"2024-08-15T12:00:00","guid":{"rendered":"https:\/\/www.ecoonline.com\/2024-sustainability-readiness-report-2\/"},"modified":"2025-04-11T13:04:37","modified_gmt":"2025-04-11T13:04:37","slug":"2024-sustainability-readiness-report-2","status":"publish","type":"post","link":"https:\/\/www.ecoonline.com\/en-us\/blog\/2024-sustainability-readiness-report\/","title":{"rendered":"Survey Reveals 80% of US Companies Building To Net-Zero"},"content":{"rendered":"\n<p>TORONTO, CANADA \u2013 August 15, 2024\u00a0\u2013 EcoOnline, a leading SaaS technology company for chemical safety, EHS and ESG, today announced the\u00a0<a href=\"https:\/\/www.ecoonline.com\/en-us\/2024-sustainability-readiness-report\" target=\"_blank\" rel=\"noreferrer noopener\">findings of its survey assessing the awareness and preparation around climate legislation<\/a>\u00a0in California among U.S. companies with revenues\u00a0exceeding $500 million. The survey shows that over 80% of companies are proactively building net-zero programs, with none waiting for legislation to be enacted before building a sustainability\u00a0program or team.<\/p>\n\n\n\n<p>In late 2023, California introduced two measures to accelerate climate action:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>SB 253:<\/strong>&nbsp;Requires companies with over $1B in annual revenues to disclose GHG emissions, with fines for non-compliance up to $500K.<\/li>\n\n\n\n<li><strong>SB 261:<\/strong>&nbsp;Mandates companies with over $500M in revenues to report climate-related financial risks, with penalties up to $50K per incident.<\/li>\n<\/ul>\n\n\n\n<p>EcoOnline\u2019s recent survey, conducted through Computer-Assisted Telephone Interviewing (CATI), provides an in-depth look at corporate America\u2019s readiness for these laws and the steps they are taking&nbsp;to comply. Key findings include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Sustainability and Growth<\/strong>: 73% of respondents view sustainability as a way to drive revenue growth, with 94% seeing it as a means to increase brand&nbsp;value.<\/li>\n\n\n\n<li><strong>Executive Leadership<\/strong>: For 40% of respondents, the CEO or board is leading sustainability efforts or being held accountable for them.<\/li>\n\n\n\n<li><strong>Budgets for Success:<\/strong>&nbsp;85% of respondents plan to increase their sustainability budgets within the next three years. However, only 25% of companies have specific budgets fully&nbsp;funded and prioritized by the C-Suite and board.<\/li>\n\n\n\n<li><strong>Cost Allocation<\/strong>: 25% of companies are working within their current budgets, 40% have a specific budget dedicated to sustainability.<\/li>\n\n\n\n<li><strong>Technology as an Enabler<\/strong>: 84% of respondents plan to deploy dedicated or purpose-built&nbsp;<a href=\"https:\/\/www.ecoonline.com\/en-us\/sustainability-software\">sustainability&nbsp;software<\/a>&nbsp;to comply with legislation.<\/li>\n<\/ul>\n\n\n\n<p>\u201cOur survey highlights a critical tipping point where U.S. companies are boldly moving beyond reactive compliance and penalty avoidance, embracing sustainability as a powerful engine for growth,\u201d&nbsp;said Tom Goodmanson, CEO of EcoOnline. \u201cWhile they are committed to these initiatives, the specifics of how they will achieve their goals remain uncertain. This underscores the need for clear&nbsp;strategies and robust technology solutions to navigate the evolving regulatory landscape and drive meaningful impact.\u201d<\/p>\n\n\n\n<h4 class=\"wp-block-heading alignwide\" id=\"we-re-a-studio-in-berlin-with-an-international-practice-in-architecture-urban-planning-and-interior-design-we-believe-in-sharing-knowledge-and-promoting-dialogue-to-increase-the-creative-potential-of-collaboration\" style=\"font-size:clamp(18.959px, 1.185rem + ((1vw - 3.2px) * 0.863), 30px);line-height:1.1\">Survey Insights<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Valuing Sustainability<\/strong>: \u201cBusinesses that integrate sustainability into their core values and operations can future-proof against evolving market trends and regulations,\u201d said a&nbsp;Sustainability Manager from a $1B+ revenue company.<\/li>\n\n\n\n<li><strong>Software Enablement<\/strong>: \u201cSoftware solutions that automate the collection, analysis and reporting of environmental, social and governance data can help us comply with regulations,&nbsp;meet investor expectations, and communicate our sustainability performance more effectively,\u201d commented a Director,&nbsp;Environmental, Health &amp; Safety.<\/li>\n<\/ul>\n\n\n\n<p>For detailed analysis of the survey findings and insights on how to navigate the new climate regulations, read the full report here:\u00a0<a href=\"https:\/\/www.ecoonline.com\/en-us\/2024-sustainability-readiness-report\" target=\"_blank\" rel=\"noreferrer noopener\">2024 U.S.\u00a0Sustainability Readiness Report<\/a>.\u00a0\u00a0<br><\/p>\n\n\n\n<div style=\"height:100px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h4 class=\"wp-block-heading alignwide\" id=\"we-re-a-studio-in-berlin-with-an-international-practice-in-architecture-urban-planning-and-interior-design-we-believe-in-sharing-knowledge-and-promoting-dialogue-to-increase-the-creative-potential-of-collaboration\" style=\"font-size:clamp(18.959px, 1.185rem + ((1vw - 3.2px) * 0.863), 30px);line-height:1.1\">About EcoOnline<\/h4>\n\n\n\n<p>EcoOnline makes it easier for you to protect your workforce and the planet. Champion worker safety and climate compliance&nbsp;with EcoOnline\u2019s intuitive suite of software solutions in Chemical Safety, Sustainability Reporting, and all aspects of Environmental, Health, and Safety (EHS) including Learning and&nbsp;Training.&nbsp;&nbsp;&nbsp;With over 25 years of experience in 90 industries, EcoOnline is trusted by more than 10,000 brands worldwide. &nbsp;To make a significant impact to the safety and sustainability of your business,&nbsp;visit&nbsp;<a href=\"https:\/\/www.ecoonline.com\/\">www.ecoonline.com<\/a>&nbsp;<\/p>\n\n\n\n<p>Subscribe to EcoOnline\u2019s\u00a0<a href=\"https:\/\/www.linkedin.com\/pulse\/introducing-situation-room-ecoonline-global-096be\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">The Situation Room<\/a>, a real-world insights series on how extreme weather and\u00a0climate change impact businesses, people, and the planet.<br><br><strong>Media Contact\u00a0<\/strong><br>Alyssa Fishwick, Sr. Director, Global Public Relations\u00a0<br><a href=\"mailto:alyssa.fishwick@ecoonline.com\">alyssa.fishwick@ecoonline.com<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>0% Say They Are Waiting for Climate and Sustainability Laws to Be Enacted\u00a0Before Building a Sustainability Program or Team<\/p>\n","protected":false},"author":2,"featured_media":98718,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","footnotes":"","_links_to":"","_links_to_target":""},"category":[66],"tags":[],"item-type":[210],"class_list":["post-67323","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized-en-us","item-type-article-en-us"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>80% of US Firms Pursuing Net-Zero | EcoOnline US<\/title>\n<meta name=\"description\" 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