Wes Bricker on ESG reporting opportunities
“Corporations are at an inflection point when it comes to ESG,” says Wes Bricker, Vice Chair – US and Mexico Assurance Leader at PwC and Chair of XBRL International’s Board of Directors, in a short guest post at ESG Today that nonetheless offers plenty to think about.
The piece, titled ‘ESG Reporting Opportunities Under New SEC Leadership,’ observes that the Biden administration and new leadership at the US Securities and Exchange Commission (SEC) under Chair Gary Gensler have brought new focus on and demand for environmental, social and governance (ESG) disclosure. “Companies can expect more clear and specific reporting guidance for environmental initiatives and human capital with a focus on providing investor-grade data,” says Bricker.
Companies should not wait until this is in place to begin evaluating and improving their ESG reporting process, he argues, but take action now. He identifies three key steps to developing consistent, reliable reporting, comprising integration with financial reporting and value creation, collaboration across organisations, and accountability and transparency using rigorous data to track progress. “Stakeholder needs and expectations are on the rise and now, more than ever, businesses need to demonstrate that their purpose is not just words, but actions that benefit all stakeholders,” he concludes.
Read more here.