Well, the moment that corporate sustainability professionals have been waiting decades for has finally arrived. No, the bowl of alphabet soup hasn’t been drained, but a long-awaited corporate responsibility and ESG reporting rewrite is underway. Importantly, the alignment and standardization of sustainability and ESG (Environmental, Social, and Governance) disclosures is becoming a reality.
The EU CSRD and ESRS were the first dominos to fall when it came to the rewrite of sustainability reporting and ESG disclosure. Then, came the consolidation of SASB, CDSB, and TCFD oversight. Currently, the SEC is considering climate disclosure rules (the final ruling is imminent).
What’s Driving this Change?
It’s important to remember that while increased regulation has brought this topic to the forefront, this phenomenon is purely market driven. Yes, you read that right – regulators are finally catching up with the private sector. What began as voluntary disclosures by many blue-chip companies, calls from customers and investors for such information have reached a critical mass requiring regulation. The scales have tipped.
Companies large and small, public and private, and from all sectors of the economy are stepping up to increase transparency to meet customer requests and compliance obligations. For those still taking a “wait and see” stance, the consequences will be costly – financially and otherwise.
What Should You Do Now?
Regardless of where your organization currently stands in its journey toward corporate responsibility and ESG reporting proficiency, now is the time to kick it into gear, even if that means starting from scratch. Whether the task at hand is substantial or modest, there is no singular, magical fix.
It will take time. It will take resources. It will take strategic planning. And most importantly, it will take consistency and discipline.
Avoid being left behind due to complacency or lack of awareness. This moment calls for action, not inertia. Our approach is rooted in meeting you where you stand, developing the right solutions, assembling the best players, and moving your efforts forward on a path that is at once smart, achievable, and budget-aligned.
We urge you to dig deeper into our latest resource, “Corporate Responsibility: Respond Don’t React,” a valuable look at how to navigate this evolving landscape.
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