In 2021 and again in 2022, Deloitte conducted executive surveys of 300 accounting, finance, legal, and sustainability executives for their views on a host of Environmental, social and governance (ESG) related topics. This latest research, titled the “Sustainability action report: Survey findings on ESG disclosure and preparedness,” shares executive insights about the increased preparations, challenges, and planned investments being made to meet the growing expectation for high-quality sustainability reporting information.
At a high level, sustainability and equity concerns continue to transform the financial landscape and companies are moving from commitment to action in their sustainability reporting to address evolving stakeholder expectations. Furthermore, they are recognizing the opportunity to capture value while contributing to a sustainable future. It’s increasingly clear that companies making proactive strides to hold themselves accountable may be better positioned to thrive long term.
Moving from commitment to action
Rather than waiting to react to disclosure requirements, companies are taking steps now to accelerate their sustainability journeys by proactively implementing changes to accelerate readiness and are pivoting to anticipate the strategic business benefits of integrating sustainability into business strategy.
Most executives surveyed (95%) are preparing for more disclosure requirements, including nearly 3 in 5 that are already making extensive preparations. A vast majority (89%) of executives have also enhanced internal goal setting and accountability mechanisms to promote readiness, and a majority (81%) report that new roles and responsibilities have already been created to prepare for additional disclosure requirements.
Companies are internally shifting focus to prioritize ESG oversight, controls, and disclosure to prepare for increasing demand for high quality sustainability disclosures. Nearly 3 in 5 (57%) executives report having…
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