background image

Why ESG is a top priority of CFOs

author image

By illuminem briefings

· 2 min read

illuminem summarizes for you the essential news of the day. Read the full piece on Forbes or enjoy below:

🗞️ Driving the news: Environmental, social, and governance (ESG) reporting has become a top priority for Chief Financial Officers (CFOs) worldwide
• This shift reflects the growing importance of sustainability and corporate responsibility in business operations
ESG metrics are increasingly used to assess how well companies meet these standards

🔭 The context: The focus on ESG reporting is driven by various factors, including new regulations like the EU's Corporate Sustainability Reporting Directive (CSRD) and anticipated SEC rules around ESG disclosure 
• These developments have made ESG reporting a critical aspect of financial leadership.

🌍 Why it matters for the planet: ESG reporting is crucial for tracking and improving corporate practices related to environmental sustainability, social responsibility, and governance
• This shift towards ESG-focused business strategies can significantly impact efforts to address climate change, social inequalities, and ethical governance

⏭️ What's next: As ESG reporting becomes more standardized and regulated, CFOs are expected to integrate these metrics more deeply into their financial reporting and decision-making processes 
• This trend is likely to continue evolving, potentially leading to more sustainable and responsible business practices across industries

💬 One quote: "CFOs are the purveyors of data... they are the go-to person for is it right, is it consistent, is it accurate, is it timely." (Christopher Wright, global leader of Protiviti’s Business Performance Improvement)

📈 One stat: Nearly all companies now report on ESG metrics, with 99% of public companies and 98% of private ones engaging in some form of ESG reporting, highlighting the widespread adoption of these practices in the business world

Click for more news covering the latest on sustainable finance

Did you enjoy this illuminem voice? Support us by sharing this article!
author photo

About the author

illuminem's editorial team - providing you with concise summaries of the most important sustainability news of the day.

Follow us on Linkedin, Twitter​ & Instagram

Other illuminem Voices

Related Posts

You cannot miss it!

Weekly. Free. Your Top 10 Sustainability & Energy Posts.

You can unsubscribe at any time (read our privacy policy)