As corporate ESG faces growing political pressure and regulatory uncertainty, many corporate communicators are recalibrating how they frame climate commitments.
Gravity Research analyzed 1,017 unique documents from Fortune 100 companies–including issue reports, Form 10-Ks, and proxy statements–from January 1, 2022 to August 31, 2025 to track shifts in climate-related language. This study examined the frequency of climate-related terms like “ESG” and “sustainability” to assess how leading firms are framing environmental goals in a polarized environment.
Key Findings
“ESG” continues to decline while “sustainability” rises. Mentions of “ESG” in issue reports decreased 61% since 2022, while references to “sustainability” increased 18%. The trend may signal a preference for less politicized language as opposed to fully abandoning climate goals.
Fewer companies are publicizing climate efforts, so far. In 2025, just 40 Fortune 100 companies have published ESG or sustainability reports, compared to 74 in 2022. While corporations typically release these reports in the fall, the trend reflects a decline in publicly articulating climate efforts.
Companies cite challenges in meeting 2025 climate targets. Of the firms that released climate reports, many pointed to unmet climate goals slated for 2025, framing delays as consequences of broader systemic challenges. Corporations noted obstacles such as regulatory uncertainty and operational constraints, rather than directly citing potential impacts from the Trump administration’s rollback of environmental policies.
Looking Ahead
With stakeholder polarization, fragmented reporting mandates, and progressive pushback shaping climate communications, companies are likely to continue leaning on “sustainability” as a more neutral framing for their climate commitments.
Download the full report to understand how leading firms are adapting their ESG and sustainability messaging in response to evolving pressures.
