09 Sep What gets measured, gets managed!
Thank you for joining LinkedIn Live yesterday for our third event: ESG/S – Reporting & Frameworks. What a great way to celebrate my birthday! I had a fabulous day and really appreciated everyone’s warm wishes.
There is only 1 remaining LinkedIn Live event, the last part in our series on How to get started with ESG today? Add this date to your calendar – September 22th @10 am ET. I hope you can join us!
The main topic of our discussion yesterday was data and frameworks – both crucial to providing consistent and comparable reporting of relevant ESG information. There has been a growing demand from investors, stakeholders, and customers for companies to be more transparent regarding ESG/S factors. And a study by Workiva showed strong support for investor pressure on companies to be more transparent and demand ESG/S data they can trust.
Is ESG/S Reporting Mandatory?
While ESG/S reporting is voluntary for most businesses, demands have grown significantly in recent years for greater corporate transparency and disclosures, especially as it relates to climate risk and carbon emissions. ESG/S reporting is the information a company chooses to disclose about its operations and risks in three areas:
- Environmental stewardship
- Social responsibility
- Corporate governance
But how do you know what to report? A few pro tips: Start small and stay authentic to your organization!
Which ESG/S framework should we use?
There are many different frameworks used for ESG/S reporting. Frameworks may focus on environmental impact or carbon emissions, while others address human capital issues or encompass several aspects of ESG/S. Frameworks guide organizations to report the information that stakeholders and investors demand.
In my experience, the most common reporting frameworks include the Dow Jones Sustainability Indices (DJSI), Global Reporting Initiative (GRI), and the Sustainability Standards Board (SASB). Applying an ESG/S framework to report ESG data offer the benefits of helping organizations maintain a competitive edge and proactively address any ESG/S issues that arise.
Below are key insights from the discussion:
Stakeholders want transparency and accountability related to Environmental, Social & Governance (“ESG”) factors.
Organizations should actively demonstrate transparency by disclosing information related to their operations and environmental issues, especially climate impact.
Reporting the company’s best practices amongst stakeholders, employees, and customers is a win for all.
There are many different frameworks used for ESG/S reporting. Each developed for many reasons and different groups, then adopted by companies across different industries.
The U.S.’s SEC proposed climate disclosure will have a major impact on public and private companies, especially Scope 3.
If you’d like a copy of the presentation or to learn more, please email me at email@example.com.
Upcoming LinkedIn LIVE
I hope to see you on September 22nd for our next LinkedIn Event. Please be sure to connect on LinkedIn for additional details.
As always, be in touch with any comments or suggestions to better serve you. Together, let’s Build a Better World!