As the evidence and ramifications of climate change continue to mount, the pressure for businesses to respond is intensifying. The question for many is, how?
No organization, regardless of size, history, or industry, is immune to the cries from the growing chorus of consumers, investors, and governments to incorporate environmental, sustainability and governance (ESG) goals, and then be prepared to explain them, and to report on their progress.
In March, the Securities and Exchange Commission (SEC) proposed a sweeping 506-page regulation that, for the first time, would require public companies to detail how their operations affect the environment. If the “proposed rule” is approved, companies will be held accountable for disclosing any “climate-related risks” that could have material impact on the business, its operations, or financial condition.
It’s clear that in 2022, the driving force for sustainability in business is more than being environmentally conscious or progressive, it’s blending business and ESG goals for the betterment of both.