and G20 have introduced some kind of ESG regulatory requirement . Naturally , due to the nature of Scope 3 emissions , this is having a global impact as countries with regulatory requirements are extending that to their suppliers .
With CSRR in Europe , SEC ’ s climate task force in North America and the World Economic Forum ranking extreme weather events as the number one global risk for businesses in its annual global risks report for 2024 , there are increasingly urgent motivations for accurate ESG data management in both regulation and risk .
“ As corporate boards and customers continue to focus on sustainability and corporate responsibility , demands for better ESG reporting are getting louder , both to back up claims around sustainability and respond to consumer demand and also to mitigate risks related to ESG regulatory compliance ,” Wout says .
“ Yet , better ESG reporting is about more than just compliance . It can lift financial and operational performance , enhance stakeholder trust , help attract and retain talent and improve customer loyalty . And together , all of these business benefits can position a company for competitive advantage .”
The business case for ESG data management does not just lie in opportunity . sustainabilitymag . com 73