Businesses Are Struggling To Find The Right Balance On Sustainability Reporting - Forbes

Mary Foley makes a case for enterprise to treat ESG reporting with same rigor as financial. She identifies areas where enterprise should focus. In essence she describes an ERP system for sustainability planning, collecting, measuring and reporting.


Recommendations From Forbes:

By focusing on the structural, elemental aspects of sustainability risk, measuring and reporting those data points in a clear, concise and standardized manner and drawing clear links between those individual metrics and their impacts to the corporate balance sheets.


Impact Chain's POV:

Lack of data and/or low veracity of data seem to be reasons for corporations jumping off the ESG wagon. ESG is here to stay. Rather than stepping aside, corporations should treat upstream and downstream ESG data like supply chain and build enterprise processes to identify the touchpoints and collect the data.


Put simply: 

Businesses need to treat sustainability reporting like financial reporting. Start thinking about CSRD, ESRS and ISSB like Sarbanes-Oxley, Dodd-Frank and MiFID instead of some new breed of reform we've never seen before.