ESG
“ We ’ re slowly seeing people moving to technology solutions and automate data collection ”
KEVIN O ’ CONNELL ESG LEADER , PWC
The impact of ESG data on business performance Adopting an ESG strategy can be seen as more than just a tick-box exercise or a means of delivering on sustainability messages . There are a number of commercial benefits , particularly as the landscape shifts towards provision of more responsibly sourced products and services . More strategic sourcing will support topline growth and discoveries lead to better relationships with governing authorities and businesses with ethical practices at the heart of what they do .
Particularly in the products sector , where consumers are willing to spend on sustainable goods , closer business relationships with suppliers will allow companies to accelerate this message and therefore charge for products accordingly . Although , in order for customers to pay the price for more expensive goods , data must reflect the true nature of sourcing .
Data can also present areas for change within a business . An example of this is energy consumption , whereby new insight into company electricity usage can draw insight into overusage . ESG is effectively an incentive to look into these factors where businesses could be saving money each
COMMON ESG REPORTING FRAMEWORKS
• The Task Force on Climate-Related Financial Disclosures ( TCFD )
• The International Integrated Reporting Council ( IIRC )
• The Global Reporting Initiative ( GRI )
• The Climate Disclosure Standards Board ( CDSB )
60 January 2024