To prepare for disclosure requirements that are on the near-term horizon, many companies are internally shifting focus to prioritise environmental, social and governance (ESG) oversight, controls and disclosure.
According to Deloitte’s survey of 300 executives at US-listed companies with revenue over US$500m, nearly 60% have already implemented a cross-functional ESG working group tasked with driving strategic attention to ESG, up from 21% in 2021.
‘The pace of transformation needed requires a coordinated approach between sectors and industries and throughout supply chains, says David Barnes, Deloitte global regulatory and public policy leader. ‘But sustainability reporting is not an end in itself; it’s about creating an environment conducive to positive change, helping companies accelerate their path to prosperity and improving prospects for all.’
