Wes Bricker on why ESG lies in finance’s wheelhouse
Finance leaders are facing new demands for environmental, social and governance (ESG) disclosure, but why should finance departments be responsible for ESG data at all? Wes Bricker has insights in his piece in FEI Daily, ‘Finance Leaders Own ESG Reporting. Here’s Why That’s A Good Thing.’
As Wes, who is Vice Chair – US and Mexico Assurance Leader at PwC and Chair of XBRL International’s Board of Directors, observes: “When it comes to aggregating data and ensuring that it meets specific quality standards, CFOs and the finance function are the most mature and seasoned professionals in managing corporate reporting.” The skills and experience involved in financial reporting are needed to bring similar levels of rigour to ESG disclosure.
With ESG information already playing a part in investor decisions, ESG issues are material to long-term value creation, argues Wes. “To effectively leverage ESG data to inform a company’s strategy and track progress against its purpose and initiatives, businesses need to understand the maturity of their ESG disclosure process and pinpoint opportunities for reporting improvements,” – including through tech-enabled solutions.
Read more here.