ESG Compliance & Reporting
ESG reporting is moving from a voluntary to a mandatory regime. Greater reporting regulations and standards are being proposed by securities regulators, governments, and standard-setting bodies. (Source – COSO: ICSR Report 2023).
At the heart of the various ESG reporting regulations are the driving principles to ensure a true, fair and accurate view of an organisation’s ESG reporting – to provide confidence to investors and stakeholders over reported targets and outcomes and consumer behaviour and sentiment.
Most companies already produce reports every year pertaining to ESG, sustainability and ICSR. However, there is now a need to demonstrate and evidence the ESG facts and figures reported, including greater ITGC controls over systems and applications the data is derived from.
This is identical to the various ICOFR regimes (e.g., US SOX or the proposed UK SOX). There are significant learnings and quick wins from those regimes that can be applied to ESG reporting immediately to reduce compliance burdens.
ZRC can assist organisations in providing strategies to implement long-term solutions which are cost-effective, valuable and sustainable as part of your overall ESG Reporting programme.
Key challenges that we can support are:
- ESG workshops and process flows
- Design of IT and business controls (ERP and master data set up and Reporting platforms)
- Testing and remediation
- Data management (including third party data)
- Reporting strategy
- Resource management
- Talent availability and competence