Welcome to our new series, "ESG in Numbers," where we break down the latest trends and insights in Environmental, Social, and Governance (ESG) practices through key statistics and data.
According to a recently published survey of 300 senior executives from publicly owned companies with annual revenues of $500 million or more, including a targeted sample of 250 executives each from five key industries conducted by Deloitte, 74% of public companies plan to invest in new technology or tools to enhance their ESG disclosure capabilities over the next year.
This is a decrease from the previous December 2022 survey that showed 99% of the companies surveyed were planning such investments. This decrease is likely due to some companies having already made investments over the past few years.
Nearly all (99%) have already enhanced (or intend to) internal mechanisms to promote preparedness for future requirements. Seventy-nine percent have already done so—a decrease of 10%, from 89% in December 2022. Regardless, the move to strengthen internal governance, systems, processes, and controls remains very high.
The survey highlights that data quality remains the primary challenge in ESG reporting. Companies are increasingly recognizing the need for robust technology solutions to manage and improve the accuracy and reliability of their ESG data.
This shift is driven by the introduction of new regulatory sustainability reporting mandates and standards, including the EU’s Corporate Sustainability Reporting Directive (CSRD) and the IFRS’s International Sustainability Standards Board (ISSB) standards, among others.
The push for improved ESG reporting tools is not just about compliance; it reflects a broader commitment to transparency and accountability in corporate sustainability practices. As public companies navigate these new regulations, investment in advanced reporting technology will be crucial for meeting the demands of stakeholders and ensuring the integrity of ESG disclosures.
How can we help?
uIMPACT is a full-service provider of sustainability assessment, reporting, and management services. We help companies report on CSRD, SFDR, and EU Taxonomy and meet the sustainability expectations of partners and investors.
Small and medium-sized companies can benefit from our intuitive web-based platform for ESG screening and SDG alignment assessment to effortlessly start their sustainability journey.
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