Companies continue to make strides in ESG reporting.
How Well-Prepared Are Companies for ESG Reporting?
What’s in this report from Deloitte:
A new survey from global consulting firm Deloitte shows that while public companies are making progress in building their ESG reporting infrastructure, challenges remain. According to the company’s survey, nearly 3 in 5 executives (57%) say their companies have implemented a cross-functional ESG working group, which represents a huge increase from the 21% who had done so in 2021.
Still, problems remain, with 35% of executives saying they’re concerned about the quality of their ESG data, eclipsing the 25% who are most concerned about access to ESG metrics.
Here’s a look at some of the other key findings of Deloitte’s report, which is based on surveys of 300 executives at publicly owned companies:
- 89% of executives say their firms enhanced internal goal setting and accountability mechanisms.
- 81% said their companies created new roles and responsibilities to prepare for additional disclosure requirements.
- 66% of companies in the consumer products sector have established a cross-functional ESG team compared to just 44% of financial services firms.