Preparing for ESG Reporting

(from FEI Daily and MarketWatch) As Harvard University announced last week that its endowment is divested from fossil fuel companies, environmental and social corporate governance (ESG) is gaining momentum. ESG specific reporting may be required for larger companies in the future, creating an imperative for boards, audit committees and management to strategically develop an ESG framework. How can leaders prepare? 

• Embed ESG into all aspects of operations, such as risk management, policy making, strategic decision making and reporting processes. 
• Consider your organization's context and benchmark against peers when assessing ESG efforts. 
• Know that data requirements for ESG reporting may be more intense than financial reporting, especially in early stages.