Climate, more companies applying Sbti metrics

Change the scenario, change the approach. Beware, however, of reading the sustainable transition in terms of slowing down or, worse, disengagement. The numbers tell a different story: according to up-to-date data from the Science Based Targets initiative (Sbti), the number of global companies that have set climate targets aligned with the objectives of the Paris Agreement is steadily growing. Before the election of President Trump, last November, there were around 9,400 registered companies, rising to more than 11,000 by July 2025 despite the US administration's change of heart on sustainability issues.

"Even ESG investments are growing, assets under management are increasing," comments Francesco Perrini, president of Clearwater Italia and associate dean for sustainability at Sda Bocconi. "Moreover, at the shareholders' meetings of large US companies, such as Apple or Levis, more than 99% of shareholders voted to maintain policies on inclusion. Sustainability is no longer narrative, but concrete leadership. Data and metrics to measure impacts become the priorities'.

Despite this, the climate around corporate sustainability has changed. In the United States, the SEC has temporarily suspended the application of the new climate disclosure rules, pending Supreme Court rulings. In Europe, the Omnibus directive aims to raise the threshold for application of the Csrd - Corporate sustainability reporting directive - from 250 to 1,000 employees, excluding thousands of companies from reporting obligations.

The situation is different in the East, where China, India and Singapore are accelerating on the sustainability front, imposing greater disclosure and integration of environmental and social risks in company balance sheets. "China, in April, had 51% of its electricity production coming from renewable sources," Perrini explains, "and has passed three regulations on the green transition of companies and investments. These countries are also innovating and accelerating on this front, unlike the Old Continent and the United States. What drives them is the desire to remain competitive in international markets, especially the European one. The Omnibus directive, on the other hand, takes a leap backwards by two legislatures, favouring large international chains, to the detriment of local supply chains'.

However, the vision of sustainability as a strategic and competitive choice is growing among companies. This is what emerges from the analysis of balance sheets, with a reduction in costs and an increase in margins in the face of ESG investments. This leads more and more companies to consider this asset as an indispensable element for leadership.