Nine in 10 feel strong ESG reporting offers competitive advantage

With regulations continually evolving and the urgency to adopt transparent practices amplifying, the role of ESG in corporate strategies has never been more pertinent. According to Workiva’s 2023 Global ESG Practitioner Survey, encompassing the views of over 900 professionals worldwide, 90% project that an adept ESG reporting program will endow their organisations with a competitive edge in the next two years.

Consistency in ESG reporting practices bears fruit, and the survey data underscores this notion. Companies that have published ESG reports and relevant metrics for upwards of five years have a notable advantage. They often witness enhanced cost savings coupled with elevated brand perception and reputation. Such pronounced benefits compared to corporates with less than two years of reporting experience underline the importance of early and sustained engagement in ESG activities.

What business value, if any, has ESG already generated for your organisation? 

Graphic: 2023 Global ESG Practitioner Survey

Technology unlocks value

The integration of technology into ESG processes is deemed vital – 95% of those surveyed felt adequate technology was crucial in managing the ESG reporting trajectory. Additionally, 97% agree that access to technology and data will play an essential role in making decisions to advance ESG strategy in the future.

Notable disconnect between executives and managers

The survey showed discrepancies between executive and managerial perceptions regarding ESG reporting. A significant 87% of executives say their organisations have dedicated staff to oversee ESG reporting, compared to 68% of managers. When asked about the diligence equated between ESG and financial reporting, 62% of executives agreed it equal, contrasting with 32% of managers. Such disconnects underscore the need for a unified organisational approach towards ESG.

An ally in ESG excellence

The last decade has witnessed a 155% growth in global ESG regulations, indicative of nations galvanising their focus on pressing climate legislation. Asset managers need a tool to navigate these intricate waters. SI Engage streamlines the ESG reporting process, empowering fund management teams to collectively anticipate and manoeuvre around the imminent tightening of legislation. By offering comprehensive tools and insights, SI Engage ensures that asset managers not only stay compliant but also harness the myriad benefits stemming from robust ESG reporting.

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