New Deloitte survey reveals major shift in corporate ESG strategies for 2024

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🗞️ Driving the news: A Deloitte survey reveals significant shifts in corporate ESG strategies for 2024, with 99% of surveyed executives expecting stricter disclosure demands due to new regulations like the EU’s CSRD and the SEC’s climate disclosure rule

🔭 The context: The study, surveying 300 executives across various sectors, found that 74% of companies plan to invest in advanced technologies and tools to improve ESG disclosure capabilities
• Quality data remains a primary challenge for 88% of respondents, driving these investments

🌍 Why it matters for the planet: Enhanced ESG disclosures and the formalization of ESG responsibilities within executive ranks, such as the increase in Chief Sustainability Officers (CSOs), reflect a growing commitment to sustainability
• This shift supports better environmental, social, and governance practices, crucial for global sustainability goals

⏭️ What's next: Companies are increasingly forming cross-functional ESG teams, with 52% already having them and 46% planning to establish them
• This collaborative approach is linked to more significant progress towards sustainability goals, as seen in companies reporting substantial advancements

💬 One quote: "The creation of dedicated ESG teams, the rise in specialized roles, and investments in sustainability reporting, all indicate a strategic shift toward embedding sustainability into their core operations," said Kristen Sullivan, Deloitte Audit & Assurance Partner, Sustainability and ESG Services

📈 One stat: Over three-quarters of respondents have created new roles specifically for handling the increasing ESG reporting and compliance requirements


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