NewsRoom Articles - Page 13 of 47

MondayAug 19, 2024 1:30 pm

GlobalData Survey Discovers Financial Gain Now No. 1 Motivator for Including ESG Strategies

A recently conducted survey has determined that financial gain is the biggest driving factor behind companies introducing environmental, social and governance (ESG) strategies. The survey analyzed responses from 354 cross-industry respondents across its business-to-business (B2B) website network and found that enhancing a business’ financial performance was the main factor for introducing ESG strategies for 33% of respondents. This was partly because of a reduction in pressure from the government and the perceived importance of legislation, which made up 31% of the responses. The survey’s findings demonstrate a shift in how ESG is being regarded, from a financial burden to a…

FridayAug 16, 2024 10:00 am

Tapping Technologies for Water Efficiency Can Boost Companies’ ESG Efforts

Studies carried out by Oxford Economics and Cognizant Research determined that businesses in the United Kingdom are planning to increase what they spend on sustainability by 13% annually between next year and 2030. This comes as more companies work to offset and cut emissions, decrease use of paper, adopt EV schemes and improve traceability in their supply chains. While these initiatives are helping drive positive change for the environment and society as a whole, what isn’t clear is whether companies are also working to minimize the use and wastage of water to boost their environmental, social and governance (“ESG”) efforts.…

WednesdayAug 14, 2024 10:00 am

How Trustees Can Shield Themselves Against an ESG Backlash

While the world is making strides to be more conscious of the environment and those around them through environmental, social and governance (ESG), some are working against this wave. Today, we discuss how trustees can shield themselves against ESG backlash. Anti-ESG litigation is broadly defined as legal action focused on preventing the ESG agenda. That type of litigation is increasing, with a recent report showing that last year 50 such cases were filed with a majority being being filed in the United States. The backlash on ESG mainly focuses on investing and whether integrating climate risks in financial decisions presents…

MondayAug 12, 2024 10:00 am

PwC Survey Uncovers Mismatch Between Workers, Companies Views of ESG

PwC recently conducted a survey that uncovered a huge disconnect between the focus most companies have on environmental, social and governance (ESG) initiatives and the actual priorities of employees. PwC is a multinational professional services brand of companies, operating as partnerships under its brand. It is one of the largest global professional-services networks globally and is considered one of the major accounting companies, along with KPMG, EY and Deloitte. The survey determined that while businesses place a lot of importance on sustainability, employees prioritize personal benefits such as career advancement and fair pay more. The survey, which focused on the…

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…

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