A research report from Accenture revealed that 90% of CFOs polled say ESG issues will be a significant focus for the next 5 years as companies feel more pressure from stakeholders like regulators, investors, employees, board members and customers. Companies’ top management bodies are endeavoring to improve their ESG performance, especially ahead of the first CSRD report publication season in 2025. Environmental products we offer at STX Group such as Energy Attribute Certificates are helping businesses improve their environmental impact as well as scope 3 suppliers in sharing increasingly more positive and competitive ESG performance data with their clients. Find out more here via CFO: https://lnkd.in/dry2FB5n
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Six predictions for ESG in 2024: The year ESG emerged from fad to essential business
Six predictions for ESG in 2024: The year ESG emerged from fad to essential business - Thomson Reuters Institute
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Six predictions for ESG in 2024: The year ESG emerged from fad to essential business. https://lnkd.in/d-9pY859
Six predictions for ESG in 2024: The year ESG emerged from fad to essential business - Thomson Reuters Institute
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Attracting climate-friendly customers, workers, and investors and facing #climate #lawsuits will keep most CEOs and #CFOs awake at night, which most #ESG climate cost analyses overlook, but are crucial to all businesses. A past example: #Detroit faced strong public concern over car safety.
If you read the news these days, you're likely to believe that ESG is dead and that the work we've accomplished in advancing ESG and sustainability over the past 5 years is likely to be reversed or thrown away. The reality is that nothing could be farther from the truth. While there is a backlash against ESG, when you look closer, it has been predominately (not entirely) based on rhetoric and language, not action. Case in point, this article highlights the fact that 90% of CFO's indicated in a recent Accenture study that ESG will be a major focus of the next five years. https://lnkd.in/etRSCZ5d. Another article highlights the results of a KPMG survey that indicates a majority of M&A dealmakers would pay a premium for greater ESG maturity. https://lnkd.in/ee3pvyF4. These articles highlight an important truth. ESG is not a woke, political movement, it is a legitimate business strategy that reduces risk, improves business value and promotes value creation. That if does so by focusing in environmental and social concerns does not diminish or change those facts. Further, these issues are resonating beyond just the investment community. A Deloitte study shows that 74% of public companies indicate that they plan to invest in sustainability reporting as regulatory and stakeholder requirements continue to push companies to take action on sustainability issues and provide consistent annual disclosure on progress. https://lnkd.in/eytxYCGK. So, while it can be easy to believe that the sky is falling, the truth is that while the language may change, the fundamental benefits of the work being done is being realized and the expectations for continues emphasis on that work has not diminished at all. It remains consistent, if not enhanced, and we all need to keep that in mind...
90% of CFOs say ESG issues will be a major focus over the next 5 years
cfo.com
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𝗘𝗻𝘃𝗶𝗿𝗼𝗻𝗺𝗲𝗻𝘁𝗮𝗹, 𝗦𝗼𝗰𝗶𝗮𝗹 𝗮𝗻𝗱 𝗚𝗼𝘃𝗲𝗿𝗻𝗮𝗻𝗰𝗲 (𝗘𝗦𝗚)♻ Great read from CFO - no surprise to see the increasing importance of ESG from Senior Finance leaders given the increasing number of mandatory ESG regulations around the world. I expect many more businesses to put ESG at the core of their business and integrate it with business strategy. Three tips to get ahead 📈 1. Identify ESG issues that matter most to your business & stakeholders 2. Establish SMART goals for the business regarding ESG initiatives 3. Open and transparent communication with stakeholders on how best to collaborate towards ESG efforts
90% of CFOs say ESG issues will be a major focus over the next 5 years
cfo.com
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A very informative article on ESG - “This year, 2024, will be the one in which companies will begin to take environmental, social & governance (ESG) activities seriously, proving once and for all that ESG is here to stay. While it is true that this trend started as the result of the need to comply with regulations and risk management, by this year, companies will fundamentally overhaul their business structures. ESG issues will transition from being optional extras to integral elements of corporate strategy, essential for generating sustained value.”
Six predictions for ESG in 2024: The year ESG emerged from fad to essential business #esg https://lnkd.in/eaMZWkEx
Six predictions for ESG in 2024: The year ESG emerged from fad to essential business - Thomson Reuters Institute
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Interesting read
Six predictions for ESG in 2024: The year ESG emerged from fad to essential business #esg https://lnkd.in/eaMZWkEx
Six predictions for ESG in 2024: The year ESG emerged from fad to essential business - Thomson Reuters Institute
thomsonreuters.com
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If you read the news these days, you're likely to believe that ESG is dead and that the work we've accomplished in advancing ESG and sustainability over the past 5 years is likely to be reversed or thrown away. The reality is that nothing could be farther from the truth. While there is a backlash against ESG, when you look closer, it has been predominately (not entirely) based on rhetoric and language, not action. Case in point, this article highlights the fact that 90% of CFO's indicated in a recent Accenture study that ESG will be a major focus of the next five years. https://lnkd.in/etRSCZ5d. Another article highlights the results of a KPMG survey that indicates a majority of M&A dealmakers would pay a premium for greater ESG maturity. https://lnkd.in/ee3pvyF4. These articles highlight an important truth. ESG is not a woke, political movement, it is a legitimate business strategy that reduces risk, improves business value and promotes value creation. That if does so by focusing in environmental and social concerns does not diminish or change those facts. Further, these issues are resonating beyond just the investment community. A Deloitte study shows that 74% of public companies indicate that they plan to invest in sustainability reporting as regulatory and stakeholder requirements continue to push companies to take action on sustainability issues and provide consistent annual disclosure on progress. https://lnkd.in/eytxYCGK. So, while it can be easy to believe that the sky is falling, the truth is that while the language may change, the fundamental benefits of the work being done is being realized and the expectations for continues emphasis on that work has not diminished at all. It remains consistent, if not enhanced, and we all need to keep that in mind...
90% of CFOs say ESG issues will be a major focus over the next 5 years
cfo.com
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Six predictions for ESG in 2024: The year ESG emerged from fad to essential business #esg https://lnkd.in/eaMZWkEx
Six predictions for ESG in 2024: The year ESG emerged from fad to essential business - Thomson Reuters Institute
thomsonreuters.com
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Do companies use high ESG ratings to divert attention from poor performance, which is hidden by their low financial reporting quality? In a recent paper in Finance Research Letters, co-authored with Dalit Gafni, Rimona Palas, and Dr. Ido Baum, we find that high ESG ratings do not come at the expense of financial reporting quality. Furthermore, the heightened focus on ESG performance following the 2019 Business Roundtable statement had a positive impact on financial reporting quality. Our findings contribute to the regulatory discourse on mandatory ESG disclosure, indicating that companies do not use higher ESG ratings to mask their poor financial performance. #ESG #disclosure #regulation #corporategovernance #financialreporting
ESG regulation and financial reporting quality: Friends or foes?
sciencedirect.com
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Our paper deals with a major concern that “bad” companies will try to mask their poor performance, as reflected in the low quality of their financial reporting, by pumping up their ESG activities to achieve better ESG ratings. Since the accounting literature provides many measurements for financial reporting quality, we use two financial statement indicators, persistence and predictability, and an external indicator, financial statement restatements.
Do companies use high ESG ratings to divert attention from poor performance, which is hidden by their low financial reporting quality? In a recent paper in Finance Research Letters, co-authored with Dalit Gafni, Rimona Palas, and Dr. Ido Baum, we find that high ESG ratings do not come at the expense of financial reporting quality. Furthermore, the heightened focus on ESG performance following the 2019 Business Roundtable statement had a positive impact on financial reporting quality. Our findings contribute to the regulatory discourse on mandatory ESG disclosure, indicating that companies do not use higher ESG ratings to mask their poor financial performance. #ESG #disclosure #regulation #corporategovernance #financialreporting
ESG regulation and financial reporting quality: Friends or foes?
sciencedirect.com
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