ESG Archives - Page 17 of 50

FridayAug 09, 2024 10:00 am

The Market for ESG Software Project to Hit $2.5B Valuation by 2028

Environmental, social and governance (ESG) reporting software contains different solutions and modules focused on regulatory, risk management, safety, health and compliance. This software is used to manage a company’s ESG data in one system that is available in a format where the data is finance grade and auditable. The market for this software has experienced strong growth in the last couple of years, growing to $1.19 billion this year from $0.98 billion last year. The growth during this period can be attributed to risk mitigation, stakeholder pressure, economic incentives, corporate social responsibility and voluntary reporting initiatives. Forecasts from a new…

WednesdayAug 07, 2024 10:00 am

How ESG Reporting is Significant in Corporate Strategy

Reporting on environmental, social and governance (ESG) standards in this day and age is important. It encourages accountability and corporate transparency, while also assisting companies in improving resource efficiency. ESG reporting also highlights cost-cutting opportunities and areas for improvement. This is in addition to enabling shareholders to make informed choices and improving brand reputation and loyalty. In addition, ESG reporting offers companies a competitive advantage over other companies. This is mainly because entities with strong ESG credentials can differentiate themselves from competitors. This can be crucial in helping attract and retain top talent, gaining market share and building strong relationships…

MondayAug 05, 2024 10:00 am

The Top Challenges Faced in ESG Reporting, Possible Solutions

Despite their supposedly good intentions, environmental, social, and governance (ESG) considerations remain one of the most controversial trends in the financial world. The term ESG has become increasingly entwined in politics over the past several years and is now considered taboo by some of its largest proponents. As a result, engaging in ESG reporting can be quite a challenging endeavor for even the most practiced companies. Data collection as well as data quality management represents the first challenge to ESG reporting. Quality reporting calls for the collection of significant amounts of accurate data, typically from several sources, such as external…

FridayAug 02, 2024 10:00 am

ESG Transforming How Banks Do Business

Environmental, social and governance (ESG) standards are becoming necessary in different fields of business, including banking, as more investors and consumers become more aware of the environmental impact of businesses, how they treat their communities and employees, and their stance on social issues. This comes after 76% of consumers revealed that they would terminate their relationship with a business that treated its environment, employees and surrounding community poorly. ESG bank solutions improve the positive impact of businesses and allow businesses to better manage risks while improving their positive impact. So, how does demand from the market and consumers drive ESG…

WednesdayJul 31, 2024 10:00 am

EU Broadens Ecodesign Rules to Encompass Almost All Goods

Last week, the European Union introduced a law focused on increasing the sustainability of products in the market. The comprehensive regulation, called Ecodesign for Sustainable Products Regulation, complements the Ecodesign Directive, focusing on enhancing environmental sustainability, energy performance and circularity while covering almost all physical goods. In a statement, an EU spokesperson explained that environmental sustainability wasn’t just about energy efficiency but also ensured that the lifecycle of a product was considered during its design. These Ecodesign regulations merge environmental considerations into every stage of product development, an approach that is critical in decreasing resource and energy consumption in a…

MondayJul 29, 2024 10:00 am

Why There May Be No Turning Back Regarding ESG Reporting

Uncertainty has increased after the United States Securities and Exchange Commission (SEC) paused the implementation of its climate disclosure rule. Nevertheless, organizations are still being affected by the regulation, with companies actively preparing for compliance. Some companies have already begun reporting under the Corporate Sustainability Reporting Directive (CSRD), which was finalized in December 2022 by the European Union. This directive is considered to be a broad environmental, social and governance (ESG) regulation, because it combines assurance, ESG data and financial data. Other countries, including New Zealand, the United Kingdom, Hong Kong, South Korea, Brazil, China and Japan, have all passed…

FridayJul 26, 2024 10:00 am

IBM, JLL Team Up to Help Commercial Properties Collect, Report ESG Data

Last week, JLL and IBM rolled out a sustainability system available to clients around the globe. IBM is a multinational tech company based in the United States while JLL is an international real estate services company based in the United Kingdom. The new solution, called Sustainability Program Management, is powered by EnviziESG suite and offered by the sustainability services arm of JLL. The program offers sustainability services such as decarbonization strategies to be employed within commercial real estate operations. It is focused on addressing issues commercial real estate organizations face, including collecting or managing data on real estate portfolios for…

WednesdayJul 24, 2024 10:00 am

Challenges Fintechs Face Regarding ESG

Over the last few years, we have seen environmental, social, and governance (ESG) reporting frameworks grow in importance. This comes as more investors hold the opinion that companies which perform well on ESG are better positioned for the long-term. In the past, greenwashing was a huge issue, with inaccurate data being published for the public. Now with transparency increasing, other challenges have come up. Below, we look at some of the challenges that fintech companies are now facing with regard to ESG. Regulatory compliance Regulations in this space are continuously updated, pointing to the need for fintechs to be up-to-date…

MondayJul 22, 2024 10:00 am

Sustainable Fitch Report Says States Will Drive Compulsory Climate Reporting

New regulations and laws at the federal and state levels in America are expected to establish obligatory requirements for thousands of companies to provide climate-related reporting. This is according to a report recently released by Sustainable Fitch, the sustainability-focused analytics business by Fitch Group. This report comes after the U.S. Securities and Exchange Commission (SEC) approved a new rule that establishes mandatory reporting requirements for public companies in the United States. Earlier in the year, the SEC announced requirements for public American companies to provide disclosure on climate risks that their businesses dealt with, plans to address these issues and…

FridayJul 19, 2024 10:00 am

Soaring Emissions from Microsoft, Google Highlight Climate Change Challenges of AI

The use of artificial intelligence around the globe is increasing as days go by, as is energy consumption by the technology. Senior research analyst at the Allen Institute for AI, Jesse Dodge, has been conducting research on how AI consumes energy. Thus far, researchers have determined that artificial intelligence uses a lot more power to generate its answers as compared to traditional internet. One report by Goldman Sachs determined that an inquiry made on ChatGPT required almost 10 times as much electricity as a question posed on Google. It is expected that as artificial intelligence advances, the need for energy…

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