NewsRoom Articles - Page 13 of 46

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…

WednesdayJul 17, 2024 10:00 am

KPMG Opens Reporting Hub to Clarify ESG Financial Reporting

KPMG International Ltd is a multinational professional services network, operating as one of the Big 4 accounting firms globally. The company recently launched its reporting hub, which provides insights and guidance that will assist organizations and their shareholders in better understanding climate transparency in corporate reporting. This comes as climate change continues to increase scrutiny in financial reporting, with many stakeholders demanding clarity on how companies report on matters related to climate. The hub, dubbed the Clear on Climate Reporting Hub, shall cover critical reporting issues through podcasts, FAQs and videos. It will be the ideal resource for companies seeking…

MondayJul 15, 2024 10:00 am

Investment Advisor Warns That Politicizing ESG Isn’t Sustainable

Peter Krull holds the opinion that environmental, social and governance (ESG) politicization is not a sustainable move. Krull, a partner and director of sustainable investing at Earth Equity Advisors, was recently named “Advisor of the Year” on ESG/Responsible Investing at the inaugural InvestmentNews Awards held last month. Krull believes that investors are being deceived with how the terminology is used, because ESG simply examines risks to a company from the metrics of environmental, social and governance (ESG). Sustainable investing, he claims, is a more favorable way to look at investing. Krull explained that the industry had shifted to hardcore ESG…

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