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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Neil Hodge2024-02-05T12:13:00
Environmental, social, and governance (ESG) reporting has proven to be a challenge for many companies, with some seeing it more as an opportunity to polish their eco-friendly credentials through “greenwashing” rather than provide meaningful disclosure.
But even those companies that want to follow best practice have said reporting requirements are onerous and unclear while metrics used to demonstrate progress are not standardized and deliver little value.
Typical complaints include the difficulty of reporting separately on ESG issues when a lot of the information is already contained in financial and risk disclosures; trying to collect, format, and check the relevant data from operations located around the world; and a lack of internal expertise to ensure reporting conforms with standards such as the Task Force on Climate-Related Financial Disclosures’ recommendations.
Unsurprisingly, tech vendors believe ESG reporting is a ripe market for artificial intelligence (AI) to help companies sift through the data and ensure compliance with both mandatory and voluntary reporting standards.
Compliance officers appear less sure.
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News and analysis for the well-informed compliance or audit exec.
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2024-05-17T17:27:00Z By Kyle Brasseur
The European Securities and Markets Authority published its final report containing guidance for the use of environmental, social, and governance- and sustainability-related terminology in fund names.
2024-03-14T14:15:00Z By Ruth Prickett
Large polluters are failing to account for climate change impact and adaptation, but policymakers need to harmonize disclosure requirements to drive coherent action.
2024-03-07T00:02:00Z By Aaron Nicodemus
The Securities and Exchange Commission finally approved its ground-breaking climate-related disclosure rule, nearly two years since it was originally proposed. Though the agency significantly watered down aspects of its proposal, the rule is already facing the prospect of legal challenge.
2024-04-09T18:24:00Z By Aaron Nicodemus
Environmental, social, and governance goals have gained acceptance from senior leadership because of upward pressure from employees, investors, and customers, according to compliance leaders speaking at Compliance Week’s 2024 National Conference.
2024-02-27T12:25:00Z By Kyle Brasseur
Retail giant Walmart announced the completion of an initiative to reduce emissions in its supply chain six years earlier than its intended target.
2024-02-15T14:47:00Z By Ruth Prickett
More than 320 organizations worldwide committed to disclosing their impact on nature following the recommendations of the Taskforce on Nature-Related Financial Disclosures.
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