Survey: Lack of Trust in ESG Reporting Demonstrates Company Unpreparedness

• Published in: Waste360
• Main Author: Valentic, Stefanie
• Format: Newspaper Article
• Language: English
• Published: New York Informa 28.06.2022
• Subjects: Collaboration; Customer satisfaction; Environmental factors; Environmental governance; Environmental performance; Human resources; Polls & surveys; Reporting requirements; Social responsibility; Sustainability; Sustainability reporting; Singapore; United States > US
• ISSN: 2329-6984

Workiva, a global software provider, teamed up with independent research agency Coleman Parkes to gather data and examine the pitfalls and obstacles facing companies on their sustainability journeys. Because ESG reporting requirements are constantly shifting, "businesses are faced with increasing complexity and risk when consolidating disparate financial and non-financial data to cohesively report on their ESG performance to stakeholders,” commented Julie Iskow, president & COO at Workiva. While 35 percent of organizations hold an ESG/Chief Sustainability Offer position, respondents answered that ESG at their respective companies falls under operations and facilities (35 percent), finance (30 percent) and human resources (28 percent) In the next year to 18 months, environmental budgets will focus primarily on environmental factors (43 percent) with social and governance issues falling in at 29 percent and 28 percent, respectively. Seven out of 10 surveyed stated positive business impacts have already been recognized across customer retention and recruitment; cost savings; insurance/credit agency engagement; and reduction of long-term risk.