Reporting on environmental, social and governance (ESG) issues has been gaining in importance and is now swiftly becoming commonplace. The Global Reporting Initiative (GRI) has been setting the standard for ESG Reporting, with many stakeholders asking for more material and comparable reporting for all sizes of companies.
Unleash Opportunity Conference
Find out more on this critical issue for companies at our annual Unleash Opportunity conference on 13 June in Amsterdam, where we will host the panel session 'Keeping an Eye on the Money – How Climate Change, ESG Reporting and the Financial Sector Connect' with experts from GRI, Eurosif, Allianz and amfori BEPI.
Expectations from the Financial Sector
Understanding the issues that matter to your company and gaining a better understanding of stakeholders and their expectations are key to any ESG reporting activity. As a key stakeholder to any business, the Financial Sector including: investors, insurers, pension funds and even your local bank, are keenly interested in how you identify and mitigate risks across your business and supply chain.
ESG risks – if not identified and managed – can evolve into serious reputational, legal and compliance risks. High risk sectors and non-resilient companies may well be excluded from financing in the future, and some already are today. The United Nations Environment Programme Finance Initiative manages the Principles for Responsible Investment (PRI) and Principles for Sustainable Insurance (PSI), both key initiatives in driving the financial sector’s response to ESG issues.
Increased Risk due to Climate Change
Reports regarding increasing temperatures and more extreme weather events have become more commonplace. The global community is coming together in global frameworks such as the Sustainable Development Goals (SDGs) and the Paris Agreement in an attempt to put a stop to global warming, and drive climate change mitigation and adaptation.