Alex Pearon, Author at ESGWireNews

WednesdayOct 16, 2024 10:00 am

Four Ways to Blend Effective ESG Strategies into Business Goals

Environmental, social and governance (ESG) investing principles have become increasingly popular over the last couple of years. Any organizations that seek to incorporate ESG standards into their business have to ensure that their ESG strategy aligns with their business objectives. Some may find it hard to balance the two without conflicts arising. To help, we discuss ways to blend the two together below. Move timelines ESG requires long-term dedication for impactful results to be achieved. This is different from the short-term nature of commercial objectives, which include increasing profits on a quarterly or annual basis. To remedy this, leaders may…

MondayOct 14, 2024 10:00 am

ESG Progress Assessments Need to Focus More on Quality Than Quantity

Currently, roughly 6% of all managed funds in Canada are termed as environmental, social and governance (ESG). In Europe, about 48% of assets under management are classified as sustainable funds, which is a labeling system almost completely similar to ESG. This disparity seems huge, but Baillie Gifford head of ESG, Catherine Flockhart, believes the quantity of funds and assets is only a fragment of the bigger picture. Flockhart explains that while Europe leads in the space when it comes to quantity, the level of sophistication exhibited by institutions in Canada, particularly when it comes to ESG strategy adoption, takes the…

FridayOct 11, 2024 10:00 am

PwC Report Underscores Need for More Comprehensive ESG Guidelines

A survey recently conducted by PwC has found that less than 50% of American corporate boards include environmental, social and governance (ESG) investing principles in their agendas. This drop in ESG as an investing framework has been linked to ambiguity, with less than 10% of board members surveyed believing that sustainability and ESG mean the same thing. PwC surveyed 520 directors of public companies based in the United States. The survey indicated that 69% of the directors were board members of companies with more than $1 billion in revenue, with 58% of them having been board members for five years…

WednesdayOct 09, 2024 10:00 am

JPMorgan Executive Says US Backlash Against ESG Is Exaggerated

An executive at JPMorgan recently stated that the backlash against issues related to environmental, social and governance (ESG) in the United States was overstated. Chuka Umunna, the company’s global head of sustainable solutions, explained during an Energy Transition conference that the weaponization of the term “ESG” and the backlash that followed had little effect on the growing green economy of the U.S. He added that while some investors and companies didn’t discuss sustainability as much, they were still moving money in a way similar to their peers in Europe. Umunna noted that investors in the U.S. may not have been…

MondayOct 07, 2024 10:00 am

Business Schools Could Soon Need to Add ESG Training to Accounting Programs

Environmental, social and governance (ESG) standards have become increasingly popular in the business world and particularly when it comes to investments. Given its popularity, there is a need for the standards to be understood by current as well as future leaders in business and accounting professions. A good way to ensure that this is done is to incorporate these principles into accounting courses, a move that aligns learners with what is happening in the real world. Experts hold the opinion that evolving sustainability standards, an increase in ESG-related regulations, and more public companies using ESG reports help motivate the aforementioned…

FridayOct 04, 2024 10:00 am

EU Takes Action to Combat Noncompliance with ESG Transposition by Member States

The European Commission has taken several steps to address issues with the transposition of directives that were recently introduced in the European Union across member states. In a statement, the commission argued that the absence of national measures hindered the harmonized compliance and implementation of various laws under the European Union. Below, we look at some of the areas the commission has touched on. Corporate Sustainable Reporting The Corporate Sustainability Reporting directive is yet to be fully adopted by 17 member states, including Spain, Germany and Belgium. The commission explained that sustainability reporting was important for the promotion of trust…

WednesdayOct 02, 2024 10:00 am

ESG Investors Getting Spooked by Power Hunger of Big Tech’s AI Programs

The power demands of advanced computing and artificial intelligence (AI) companies have begun raising concerns among some investors regarding whether this field should be represented as greatly as it is in sustainable funds. Already, asset managers in charge of environmental, social and governance (ESG) funds worth hundreds of billions have been calling out big tech firms such as Alphabet and Microsoft on the impact their operations have on the environment. Six fund executives in the United States and Europe have revealed that they are closely examining the environmental impact of AI on the environment. This comes after major tech companies…

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…

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Author: Alex Pearon