This report, Nordic Climate Transparency Leadership, by the Open Sustainability Index and We Don’t Have Time, analyzes the CSRD-readiness and stock performance of Nasdaq OMX Nordic 120 companies. Here are our key findings:

• CSRD Readiness: One-third of the companies are well-prepared for CSRD requirements, with complete and transparent Scope 1-3 GHG emission reporting.
• Emission Reporting: 48.5% of companies report on all three scopes, but 16% need to improve their Scope 3 category disclosure.
• Climate Targets: 68% have set science-based targets; however, only 47% aim for Net Zero by 2050, and 17% have a specific Net Zero target year.
• Financial Performance: Companies with thorough emission reporting currently outperform in the stock market, yielding a 28% higher return over 12 months.
• Sector Insights: The financial sector lags, with only 24% reporting investment emissions and 12% setting science-based targets.
• How to Become a Leader: Improve transparency by avoiding category merging, clearly stating materiality, using standard names, and consolidating data into a single table.