September 2024 - ESGWireNews

MondaySep 30, 2024 10:00 am

Decoding What ESG Scores Can, Cannot Do

Environmental, social and governance (ESG) data is important because it helps measure the sustainability, long-term viability and ethical standards of companies. In the last couple of years, we have seen the reporting of issues linked to sustainability increase in shareholder reports, bolstered by regulatory mandates and/or voluntary disclosure. Data from 2022 shows that 98% of S&P 500 firms reported ESG data. Of these firms, 70% of them acquired some assurance on their ESG metrics. This is an increase from the 65% recorded in 2021. Despite these positive strides, the accuracy of this data is still under scrutiny. A PwC survey…

FridaySep 27, 2024 10:00 am

The Market for ESG Reporting Software Poised for Explosive Growth

Environmental, social and governance (ESG) frameworks are used to evaluate the business practices and performance of organizations on various ethical and sustainability issues. Increased use of these frameworks has seen reporting software that eases data collection and reporting become increasingly popular. ESG reporting software is designed to assist companies in tracking, analyzing and reporting their corporate responsibility and sustainability initiatives. These tools also enable organizations to enhance stakeholder engagement, improve transparency and comply with regulatory requirements. HTF Market Intelligence’s latest study estimates that the global market for ESG reporting software is poised to rake in about $5 billion in revenues…

WednesdaySep 25, 2024 10:00 am

Deloitte Partners with Salesforce to Accelerate ESG Reporting

Deloitte, in partnership with Salesforce, recently launched a sustainability-management solution focused on improving reports on environmental, social and governance (ESG) targets. The program, dubbed Greenlight Powered by Salesforce (GPBS), has been implemented into the former’s operations in more than 120 countries. It was first announced last year as a collaboration that combined capabilities from data-management products of both companies and elements of code. The program is seen as an update to the Greenlight solution offered by Deloitte, which affords clients a platform that can stream their ESG reporting process. Deloitte’s global chief sustainability officer, Kwasi Mitchell, explained that having the…

MondaySep 23, 2024 10:00 am

Study Finds Investors in Canada Unfazed by ESG Polarization in US

A survey that focused on institutional investors in Canada has determined that environmental, social and governance (ESG) has gone mainstream, with increasingly numbers of companies carrying out double-materiality evaluations. The survey found that investors are not only considering ESG factors in their investment evaluations but also expanding to the broader positive/negative impacts of their investments. This comes amid indications from the country’s Environment and Climate Change Ministry that the nation will have a transition taxonomy by Dec. 31, 2024. This latest survey was conducted by Millani, which offers corporate sustainability advisory and responsible investing services. Investigators began their study by…

FridaySep 20, 2024 10:00 am

How to Incorporate ESG Within Your Operations

Environmental, social and governance (ESG) guidelines are normally used to help companies implement their sustainability strategies. Sustainability focuses on how organizations can decrease overall impact while positively benefitting communities around them as well as the planet. As the days go by, it is becoming increasingly important for businesses to incorporate ESG policies and practices into their operations. Businesses, and in particular charities, that wish to do so need to start by carrying out a materiality assessment, which helps identify elements that actually impact a charity. ESG key performance indicators that come up need to be relevant, with most charities adopting…

WednesdaySep 18, 2024 10:00 am

Sweep CEO Discusses Whether ESG Rating Agencies Need to Be Regulated

Pressure is mounting for businesses that haven’t yet enhanced the transparency and quality of their environmental, social and governance (ESG) data. Better data quality is becoming an important tool for organizations to formulate effective sustainability strategies while also attracting new investors. As frameworks such as the United Kingdom’s Sustainability Disclosure Requirements and the European Union’s Corporate Sustainability Reporting Directive come into effect, companies are being urged to consolidate their sustainability data to navigate this regulatory landscape. Sweep, a sustainability data-management platform, helps financial organizations and companies achieve their sustainable business goals by managing increasing disclosure requirements. Rachel Delacour, company CEO…

MondaySep 16, 2024 10:00 am

ESG Resistance Brewing as Europe Continues to Enforce Strict Rules

Environmental, social and governance (ESG) regulations in Europe have put companies such as TotalEnergies in a tight spot as they continue to pressure asset managers to invest in ESG standards. These regulations, which aren’t imposed on companies in America, have put businesses in Europe at a valuation and competitive disadvantage to their American peers. Now, companies such as Unilever Plc and Mercedes-Benz Group AG are pushing back against these rules. The European Round Table for Industry recently stated that the strict rules were speeding up loss of competitiveness and warned that prospects were better outside the bloc. In the last…

FridaySep 13, 2024 10:00 am

A New Shift Sees Defense Stocks Appearing in ESG Portfolios

Leaders of defense companies in Europe believe that the ongoing war in Ukraine following Russia’s invasion has significantly changed the way defense stocks are perceived by fund managers. Normally, defense company stocks have been excluded from portfolios based on environmental, social and governance (ESG) factors because of ethical concerns over their link to warfare. In the last few months, however, managers of ESG funds seem to have become even more comfortable with holding defense stocks. This comes as defense spending by countries continues to increase and industry profits soar as governments respond to rising geopolitical risks. Saab CEO, Micael Johansson,…

WednesdaySep 11, 2024 10:00 am

How Leveraging ESG Initiatives Can Create Business Value

Environmental, social and governance (ESG) initiatives help improve social responsibilities of companies, identify and manage risks, meet stakeholder expectations and improve long-term sustainability. Finance leaders are tasked with overseeing the implementation of risk-management strategies and initiatives that drive value. Boston Consulting Group’s Steve Young believes that all individuals in an organization have to be engaged and prepared on their priorities when it comes to ESG. Young explains that employees as well as the leadership team are a company’s ambassadors and are best placed to share ESG progress with stakeholders. For these initiatives to create value for businesses, however, leaders need…

MondaySep 09, 2024 10:00 am

CDP Report Shows Nearly 9 in 10 Banks Base Financial Strategy on ESG Ratings

Latest figures from CDP show that last year, 85% of financial institutions had utilized environmental, social and governance (ESG) ratings to seek out climate-related opportunities, collectively managing more than $4 trillion in assets. These institutions credited these ratings for significant financial gains, calling attention to the crucial role ESG ratings play in their operational strategies. This comes as regulators around the globe focus on ensuring the transparency and reliability of ESG data products. The International Organization of Securities Commissions recently rolled out a framework that champions for improved transparency, management of conflicts of interest and better oversight. Pietro Bertazzi, CDP’s…

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Month: September 2024