Brandon Lim’s Post

Consultants have taken over sustainability reporting – and not for the better, write Kate Macdonald and Hendri Yulius Wijaya of the University of Melbourne in this op-ed. A growing number of companies have hired consulting firms to help them with ESG, but it's become a box-ticking exercise as a lack of checks has led to greenwash. #ESG #greenwash #sustainability #sustainable #finance

I consult in sustainability (related to forest investment) and I agree with this. #Sustainability cannot be entirely outsourced. In fact, I would argue that the more heavily you integrate sustainability within your investment organization (including at investment committee, c-suite, and board level representation), the more resilient and successful your organization will be. Box-ticking #ESG reporting exercises are not only a #greenwashing risk, but can sweep important issues under the rug that will re-surface later, damaging more than credibility.

A fantastic guide from ACCA outlining the benefits of sustainability reporting for SMEs, including: 💥 Creating processes 💥 Communicating both internally and externally 💥 Using sustainability-related information In an easy to use eight-stage sustainability reporting cycle designed to inspire SMEs to create, use and understand sustainability-related information. Read more below 👇 https://lnkd.in/dcZDUrEH

“Starting from January, we have the CSRD directive implemented in the national legislation. We also have the first companies that started preparing for sustainability reporting. It is the first year in which large companies, with over 500 employees, must submit this sustainability report in 2025. From the estimates made in Romania, we will have approximately 5,000 – 6,000 companies that will have to report on sustainability criteria in the second wave. How prepared are the companies? Here the answer is relative because from our experience, it differs a lot depending on the size of the companies and the resources they have. Studies show that 70 percent of Romanian companies are aware of the sustainability report requirements, but only 30 percent are prepared for sustainability reporting,” Ana-Maria Iordache, Partner, D&B David si Baias said during Sustainability in Business Forum organized by The Diplomat-Bucharest and Sustainability Today. https://lnkd.in/dBgCPVKV

A new Sustainability Reporting Grant aims to assist large companies in covering costs associated with creating their first sustainability reports. Additionally, a separate programme will be established to guide small and medium-sized enterprises (SMEs) through the reporting process. Sustainability reporting will help companies remain relevant in the face of increasing demand for carbon footprint data disclosure. “As the world embraces sustainable goals and practices, customers and investors will increasingly expect businesses to be more transparent about their carbon footprint,” shared Minister of State for Trade and Industry, Low Yen Ling. These initiatives are among efforts to promote environmentally friendly practices within businesses. Other measures include reducing the threshold for the Resource Efficiency Grant for Emissions, enabling more projects undertaken by industrial facilities to improve energy efficiency and reduce emissions to qualify for funding. Read more about it: https://lnkd.in/g9UVKxsq Together, let’s #PowerTheChange and nurture the next generation’s passion for a greener tomorrow. #Geneco #GenecoSG #Sustainability #Business #SustainabilityReporting #CarbonFootprint #EnergyEfficiency

This article is important. In my experience data can be hard to obtain and hard to access; however it is the most critical part of ESG disclosures. Marketers and marketing folks have flooded the work with slogans, messages and sound bites. “companies and consultants need to return to the underlying principle of sustainability reporting: it’s not just about producing marketing material. Faced with a very real global crisis, it’s a key way to measure the impacts, risks and challenges of doing business, and present a company’s action plan to address them.” Data can be a good antidote to spin. We need more and better data. Green Analytics #data #esg #greenwashing

When it comes to sustainability reporting, it depends on how serious companies are about making change

When it comes to sustainability reporting, it depends on how serious companies are about making change. Companies are facing pressure to become more open about how they do business https://bit.ly/4cqBP6V via @ConversationCA

“No company is fully prepared for new sustainability reporting and assurance rules. “ That is a quote from PwC For once, I agree with them. Whilst, CSRD is an EU bit of legislation it will catch UK companies either directly or indirectly. From 2024 the CSRD will also apply to non-EU companies with securities listedon an EU regulated market and from 2028 non-EU companies that directly generate a net turnover of over €150 million in the EU and have a subsidiary office (branch with no legal personality) with a net turnover of at least €40 million in the EU, or a large or listed EU subsidiary. Indirectly, non-EU suppliers to EU companies can anticipate some interesting conversations with their customers. It is worth noting that the EU’s goal is that the CSRD stimulates a mass shift in corporate behaviour - a shift that ultimately and rapidly delivers not only a net zero economy, but a truly sustainable economy that operates within global ecological boundaries that is fair for society. The goal is transformational on a huge scale. Are you ready for the transition? Fortunately Global Reporting Initiative (GRI) is totally aligned with CSRD reporting. With access to a number of trained Global Reporting Initiative (GRI) professionals Sustainology UK is perfectly positioned to help you align with and report on CSRD. Worried about the challenge? Drop me a message. Image by Andy Beales from Unsplash

When it comes to sustainability reporting, it depends on how serious companies are about making change. Companies are facing pressure to become more open about how they do business https://bit.ly/4cqBP6V via @ConversationCA