C-Suites Believe Mandatory ESG Reporting Is Nigh — Protiviti Discusses These Challenges at E+E Leader Summit

mandatory ESG reporting

by | Oct 10, 2022

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mandatory ESG reportingA recent ESG survey from global consulting firm Protiviti found that 78% of global business leaders — including board members, C-suite executives and other global leaders across a wide range of industries — believe that mandatory ESG reporting will become a reality within ten years. In fact, regulatory requirements are expected to be one of the main drivers of change within the ESG space globally over the next decade. In a Protiviti survey from 2021, a majority of CFOs and VPs of finance (58%) reported substantial increases organization-wide in the focus and frequency of reporting related to ESG issues.

Bob Hirth, senior managing director of Protiviti, will be speaking at the Environment+Energy Leader Environmental Management Summit, October 19 and 20, on this topic.

Mandatory ESG Reporting Challenges

One of the most challenging aspects of ESG for board members is understanding what has become a complicated landscape of third-party organizations that rate and/or rank a company’s various ESG practices, believes Hirth. Another huge challenge is trying to learn, at least at a high level, about the many metrics and measurements that gauge ESG maturity.

The regulatory landscape is challenging enough to navigate, but finance executives are struggling with additional challenges: 68% of CFOs and VPs of finance shared in last year’s Protiviti survey that measuring and reporting on ESG risks and issues has become part of their finance team’s role within the last year. These are responsibilities that have not traditionally been a part of a CFOs realm of responsibility.

Hirth Speaks at Summit on Topic of Mandatory ESG Reporting

Hirth will speak about these challenges at the E+E Leader  Summit on October 19. His virtual keynote will open the Summit at 9:15 am on Wednesday, during which time he will give a corporate mandatory ESG reporting update. He will discuss ESG corporate reporting trends and statistics, the status of the proposed SEC mandatory climate disclosures rule, and ESG standards convergence and global requirements. Then he will share leading ESG governance and reporting practices.

Register here.

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