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ESG Reporting... Close Enough Might Not Work

Happy summer... while you were away on holiday (still working through virtual time off), the regulators have been busy identifying Environmental Social and Governance (ESG) reporting standards. While the debate on accuracy and reliability in ESG reporting continues, the question of how to achieve overall compliance on ESG is a board room hot topic. Management of ESG reporting and compliance can fall to a committee amongst the management team or an individual. Who manages reporting to the SEC and other government regulators will likely fall to the CFO... enter the 10-K. What ESG standards and how to measure against those will be quite the journey for many. At the moment, there is time to gather task forces and tiger teams to address the measurement and implementation process. Board sub-committees are responding to the compliance and regulatory mandates. CFOs and GCs are working together to bring internal audit and compliance functions into focus on reporting. Now is a good time to step into the future of ESG. 

© Copyright 2022. The views expressed herein are those of the author(s) and not necessarily the views of Ankura Consulting Group, LLC., its management, its subsidiaries, its affiliates, or its other professionals. Ankura is not a law firm and cannot provide legal advice.

The Securities and Exchange Commission is aiming to require companies to describe on Form 10-K their governance and strategy toward climate risk and has launched a task force mandated to identify misstatements in issuers’ ESG disclosures. Meanwhile, the International Sustainability Standards Board (ISSB) is rallying regulators from the U.S., Europe, Japan and other jurisdictions around common rules for disclosures

Tags

esg advisory, officeofthecfo, finance, perspective

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