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ESG Disclosures: A transformation from tactical to strategic
July 3, 2018 @ 8:30 am - 12:00 pm
Transparency in disclosures is central to the paradigm of sustainability. All stakeholders benefit from high quality ESG disclosures by a company. Investors value such disclosures from the company as it provides them a firm basis for their investment decisions. Customers, Suppliers, Employees and Citizens get a 360 degree view of the company. Such insights can enhance the quality of relationship between the company and these stakeholders. For the company in question, good ESG disclosures can act as a catalyst for self-transformation.
Given the topic’s relevance and importance, we think it is important that ESG disclosures take center stage and be part of the strategic conversations in companies and business networks. However, the reality is a little different. A 2017 PwC survey of U.S. investors found that 62% felt they don’t “have enough trust in the information companies report” to be confident in investment analysis and decisions. While progressive investors have been seeking more environmental, social and governance (ESG) data for years, to make investment decisions, now large investors like Blackrock are driving ‘investor activism’. This is reflected in ‘827 investors with US$100 trillion in assets requesting information on climate change, water or forests’, we believe 2018 will be a turning point in global companies getting more proactive in providing accurate ESG data, that also reflects a desire to improve ESG performance and thereby reputation.
The need for detailed disclosures across areas like a company’s impact on climate change or carbon emissions, water use and conservation, waste, anti-corruption policies, board diversity, human rights efforts and community development, has never been felt more acutely by global companies. The global reputation of successful 21st century companies rests on assessing ESG risks accurately, and incorporating that into their enterprise risk management framework and corporate strategy. S4B 7.0 will look at approaches to transform ESG disclosures, from traditional tactical approaches that perhaps included ‘greenwashing’ and non-disclosure of ‘proprietary data’ to a strategic approach that includes more transparency and a focus on improving performance.
Key objectives of the event will be to discuss:
- The drivers of change and global best practices in ESG Disclosures. What sets the leaders in this space apart?
- Transforming ESG disclosures from tactical to strategic- What does it require ? What changes in mindsets, organizational cultures and values are required?
- Frameworks, Applications and Tools that can transform ESG disclosures