Majority of big Canadian companies now linking executive pay to ESG

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Study finds 68 per cent of companies in the S&P/TSX 60 Index of large corporations offer chief executives and other top brass incentives at least partly based on meeting ESG objectives

Boards of directors and their compensation committees have long rewarded executives for financial achievements, including meeting profit and debt-reduction goals. Now, companies that do not include ESG goals in performance-based incentives could soon find themselves taking heat from investors who are themselves seeking to reduce risks that are non-financial but still material.

“Particularly the larger companies – they spend a lot of time focused on investor engagement. And a lot of the things they’re doing are getting out ahead of what investors may want. It goes fundamentally right back to access to capital,” Mr. Raman said in an interview. The emphasis on ESG targets among the large emitters is not a surprise, given the importance placed on decarbonization in the economy by governments and within capital markets. Several major institutional investors, including asset managers and pension funds, formed CEC last year to influence those companies to improve their greenhouse-gas-reduction performance and disclosure practices.

 

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no, they don't, lol. they just say they do.

ESG is a particularly toxic combination of green-washing & virtue signalling. But I learned early in my long career to be wary of three letter business acronyms ... and to stay well clear of the sea of parasitical consultant hucksters who make their living pumping them.

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