“ The ESG Controller should be focused on non-financial accounting , data quality , along with regulations and reporting . For now , this role does differ from a sustainability leader empowered to act on that data . The sustainability leader should be managing risk , driving improvements in operational efficiency and the like , and fostering new innovations .”
Mandatory reporting gained a foothold in the European Union with the Corporate Sustainability Reporting Directive ( CSRD ). This requires companies in scope to provide detailed reports on their operations and ESG impacts .
CSRD does not just impact listed companies , or indeed those headquartered in the EU . Large companies with more than 250 employees , turnover of more than EU40 million , or total assets of EU20 million are also required to report , plus non-EU companies with at least one subsidiary in the EU and a net turnover of EU150 million .
Whichever way you look at it , companies will need to have a firm grip on , and understanding of , their ESG reporting responsibilities in the very near future , if not right now .
Nancy Mentesana is the Executive Director of ESG at Labrador US , a global communications firm focused on corporate disclosure documents . She says we are in the midst of a transformation from fragmented to regulatory reporting .
“ Instead of simply publishing a report focused on high-level CSR
86 April 2024