How prepared are companies to report environmental impact of asset portfolios?
2024 Office of Finance Outlook
Environmental Impact Reporting
What’s in this report from Visual Lease:
Several new environmental reporting requirements are expected to come online over the next couple of years, but new research from Visual Lease reveals that few companies are ready for the impact when it comes to their owned and leased assets: About 70% of those Visual Lease surveyed said their organizations aren’t yet ready to track and measure environmental impact-related data within their asset portfolio.
The new report found that prioritizing ESG initiatives remains top-of-mind for most senior finance and accounting executives at companies with more than 1,000 employees, with 90% looking to enact new sustainability goals within the next two to five years and 97% saying they are currently involved with ESG reporting decisions within their organization.
“Despite how critical data collection and management is in the reporting process, our study found that 51% of enterprise organizations are either relying on Excel or a third party to help them manage their lease administration processes,” said Robert Michlewicz, CEO of Visual Lease. “However, it is imperative that the Office of Finance leverages a centralized system of record with a strong controls framework to ensure complete and accurate asset data and emissions inventory.”
