Most of the NZX 50 now links top exec pay to ESG
Forsyth Barr’s second annual carbon and ESG (CESG) review, which rates 58 NZX-listed companies on their policies and practices, shows continued improvement on CESG measurement and data collection but not in outcomes.
The ratings, which don’t assess products and services, are intended to act as CESG due diligence and support Forsyth Barr’s investment research. The 58 companies covered account for nearly all of NZ’s market capitalisation and contribute about 11% of NZ’s greenhouse gas emissions.
Forsyth Barr head of ESG Katie Beith says while carbon emissions are still increasing, more companies are reporting and setting targets and there was good progress on reporting Scope 3 emissions.
Based on their overall grade, companies are categorised as leaders, fast followers, explorers, and beginners. The review found that the 11 leading companies now link remuneration of senior executives to improved ESG performance, while in total, 43 companies do so, compared to 33 last year.
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