For those of us who have an interest in Governance you will no doubt be well aware of the term ESG, (Environmental, Social & Governance), and the implications of needing to be well informed, in addition to having the capability to measure and report.
Currently the major professional firms in accounting and law are doing a great job in advising and informing their clients on compliance requirements, the associated risks and reporting needs. Yet for those of us who have taken a more in-depth look at these requirements, it’s clear the real challenge is in the reporting, and also in ensuring that what we report is an accurate reflection of what we do.
This is also where we need to relate the various models to each other, as in our Social Value and Climate Service Solution illustration below:
Once there’s an awareness of what needs to be achieved, the next question is how will this be achieved – how are we going to get there? This is where a suitable technology platform can significantly help organisations reduce their effort in delivering the necessary reports. Yet there’s also a hidden business Value Add – the reports and data collated can play a huge part in Risk, Security and Ethics analysis and management. Awareness allows best practice in the mitigation and management of risk. In other words, it helps in building out a competitive advantage.
Over the course of the next few weeks, I’ll continue to explore the needs, issues and requirements of the ESG environment. In the meantime, however, if you have any questions, please do reach out to me.