We combine ESG lifecycle data management technology and process improvement with robust governance and internal controls to design and implement ESG and sustainability reporting. The benefit to organizations is reporting that is ready for rigorous stakeholder engagement, will meet expected audit, attestation and certification requirements, and works seamlessly with existing financial reporting.
Driven by environmental, social and governance commitments made by organizations, sustainability reporting is increasingly important for today's society and an organization's stakeholders – including measurement and reporting on the impact to its bottom line. Today's organizations are expected to disclose a comprehensive set of decision-useful information about their sustainability goals and metrics that measure their performance and progress. These factors require the disclosure of relevant, reliable, and comparable information on how sustainability goals were or were not achieved, often in accordance with complex and rapidly evolving mix of standards, frameworks and regulations.
Our experts provide a range of services across ESG and sustainability reporting in a variety of areas, including:
Raw Data
- Unlock accurate, timely and auditable information to support an organization's ESG metrics with data-driven reporting.
- Design and implement collection processes to fill data gaps.
- Validate and identify trusted external information to supplement internal data.
- Consider alternative ESG data from other perceptions such as stakeholders, industry experts and activists.
Unified Data
- Create a data analytics platform that enables organizations to easily and quickly gather data from disparate sources and store it securely in centralized platforms for accurate analysis.
- Develop visual analytics for key stakeholders to drive action and monitor progress over time.
Internal Controls
- Develop proper risk management policies, procedures, and internal controls to prepare relevant and reliable reporting on both the impact of certain ESG issues, such as climate-related risk and progress toward stated ESG goals.
- Select voluntary self-disclosure in sustainability.
- Determine what data is mandatory and linked to reporting frameworks.
Metrics
- Determine the most relevant KPIs for reporting based on regulations, standards, rating agencies, and competitor trends.
- Develop and automate the calculation of custom KPIs, updated in real time.
- Integrate third-party ESG ratings data to stay on top of ESG scores and rankings.
ESG Reporting
- Reporting prepared in accordance with recognized standards is comparable and reliable.
- Consistency with the financial statements and Other Information disclosed in the annual report.
- Assess if financial statement disclosures are in line with the current existing requirements.
- Establish the completeness, accuracy, and comparability of the data reported for selected parameters and information.
Benefits & Outcomes
- ESG reporting integrity via a single source of truth leverageable across all business functions
- ESG metrics rooted in good data generated and documented by key business processes
- ESG stakeholders, decision-makers and financial reporting using the same data and analytics
- Seamless coordination within the organization, particularly finance and sustainability functions
- Mature ESG risk management, governance and internal controls processes that are repeatable and defensible
- An organization fully prepared for audit scrutiny
- Reduced risk of regulatory friction or scrutiny
ESG Audit and Attestation Readiness
A complex, evolving set of stakeholder interest, standards and regulatory developments are driving a groundswell of diverse sustainability and ESG disclosure demands of today's companies. We help ensure our clients are providing robust disclosures that meet emerging global expectations and are ready for rigorous stakeholder engagement and any expected audit, attestation or certification requirements.
Standards and frameworks
- Task Force on Climate-related Financial Disclosures (TCFD)
- Climate Disclosure Standards Board (CDSB)
- COSO's ESG-ERM Framework
- International Sustainability Standards Board (ISSB)
Regulation
- Emerging TCFD-aligned legislation around the world
- UK's Climate-related Financial Disclosure (CFD)
- EU Corporate Sustainability Reporting Directive (CSRD)
- EU Sustainable Finance Disclosure Regulation (SFDR) for financial market participants
- SEC's Proposed Rules for Climate-related Disclosures
- SEC's ESG Disclosures for Investment Advisers and Investment Companies
- SEC's Proposed Rules on Cybersecurity Risk Management, Strategy, Governance and Incident Response
- NYDFS Insurance Regulation for insurance companies
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.