Saying Less, Doing More

We are more than halfway through 2026, making this a good moment to reflect on what stands out from all the recent change in the sustainability landscape. We review news about sustainability all week, every week, but we also work closely with clients in a range of industries who are dealing with the daily work of environmental protection, social advancement, governance integrity, and – perhaps the most complicated aspect – how to talk about it all.

So, while the loudest headlines have been about retreat in regulations, target-setting, hiring, and corporate reporting, there is another truth worth telling: what companies do has not changed much. The stories in this issue of Sustainability Highlights explore the two sides of this contrast.

In Forbes, Anjali Chaudhry assembles the numbers behind “greenhushing.” EcoVadis found 87% of U.S. companies maintained or increased sustainability investment in 2025 and only 7% cut, while 31% of executives invested more and said less. Forbes investigated whether the silence paid off, and found it was not the safe harbor companies expected: 98% of businesses in a 2026 procurement survey had lost contract opportunities for not sharing sustainability credentials.

Standard-setters may have a sense of why this is. In Eco-Business, Global Reporting Initiative chief executive Robin Hodess says GRI has seen no decline in reporting numbers, with four in five of the largest global companies still using GRI Standards. Offering a clue about why reporting has stayed strong this year, she makes a business case for robust disclosures: “I’ve never met an investor who wants less information.”

The size and tenor of the comment file received by the SEC over the past few months bears out Hodess’ view. As Responsible Investor reports, Vanguard — the world’s second-largest asset manager — is the largest investor to oppose scrapping the climate rules, telling the Commission there is value in standardized, comparable disclosure of material risks – climate among them. TIAA and Nuveen argued for a simplified rule rather than none, warning of a “mosaic of state-specific requirements.”

If sustainability were receding, we wouldn’t be hearing about more hours for lawyers. Corporate Disclosures picked up Side by Side, our new research with Ropes & Gray, and led with a finding that surprised us too: 39% of the sustainability professionals surveyed now report into the legal department, against 17% reporting to the CEO. According to 87% of them, and 84% of their legal counterparts, interaction has increased because of regulation. California’s climate laws and the CSRD each were named by 75% of our respondents as the most pressing reason for greater collaboration between legal and sustainability teams. Majorities in both groups expected legal’s role to grow; not a single respondent expected it to shrink.

Capital is moving the same way. ESG Dive reports U.S. sustainable funds drew roughly $3 billion in the second quarter — the first positive quarter since 2022, ending 14 straight quarters of outflows and lifting assets to a record $398 billion. But the developments also show signs of caution: the money went to passive strategies, active funds shed $3.6 billion, and 22 funds closed against three launches.

Other timely news delves into AI’s role in sustainability matters. Inside Climate News reports on applications increasing oil and gas output, MIT Sloan cites the climate costs and benefits of AI tools, and we found two takes on whether data centers and clean power can share a grid. These stories paint the backdrop for our new issue brief on Responsible AI Due Diligence, which is a guide to the OECD’s first guidance for the AI value chain.

On circularity, the EU’s Packaging and Packaging Waste Regulation is in force this month, including PFAS limits on food-contact packaging. The Northeast Recycling Council has mapped policies on producer stewardship in 11 U.S. states, offering useful context for our resource paper on the EU’s PPWR and our EPR support work.

Also inside: $20 billion in climate grants unblocked on appeal, and the world’s largest carbon removal plant due online by year’s end.