Compliance should prepare for more ESG reporting as global pressure rises
Most major organizations are not changing their ESG reporting plans, despite “regulatory ambiguity”, according to a report by consultancy KPMG. The researchers say this indicates market expectations are driving action as much as legal requirements.
KPMG’s findings are supported by a further study, published on Sept. 15, by global consultancy Bain & Company. This found that half of the business-to-business companies surveyed are spending more with sustainable suppliers, while 26 percent were dropping suppliers who did not meet sustainability criteria now, and 49 percent plan to in the next three years.
“2025 is the year CEOs turned down the volume – and accelerated action. Sustainability remains a priority. Customers and consumers demand it. Risk and disruption make it essential,” write Jean-Charles van den Branden, leader of Bain & Company’s Sustainability Practice, and François Faelli, the firm’s global head of capabilities.
Related articles
-
ArticleFinCEN seeks to lighten the regulatory load on casinos
Regulatory relief from anti-money laundering rules is in the cards for casinos, insurance companies and other non-bank financial institutions, the U.S. Treasury Department’s Treasury’s Financial Crimes Enforcement Network (FinCEN) said Monday.
-
ArticleGeopolitical risks among compliance concerns for metals, mining companies
Companies working in the metals and mining sectors face increased compliance checks due to efforts to clamp down on abuses in the supply chain, while “volatile” geopolitical changes make sourcing and transporting raw materials more difficult and expensive.
-
News BriefAmazon to pay $2.5 billion in FTC settlement over 'deceptive' Prime sign-ups
Amazon settled a complaint with the U.S. Federal Trade Commission Thursday over allegedly enrolling consumers into its Amazon Prime subscription and making it difficult to cancel. The FTC says the amount of the settlement is one of the biggest in its history.
More from ESG/Social Responsibility
-
Basic PageSEC dodges commitment on climate rule enforcement
The SEC refused to say whether it would enforce its landmark Climate-Related Disclosure Rules in a status report filed Wednesday, deepening uncertainty as the regulation faces legal challenges.
-
News BriefCOSO withdraws draft corporate governance framework due to “shifting” regulations
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) has withdrawn its draft corporate governance framework that it released in May, after “extensive feedback” and provisions in the recently passed “One Big Beautiful Bill” caused its authors to reconsider it.
-
News BriefDOJ says BlackRock, Vanguard, State Street pressed ESG goals to lower U.S. coal output
The Department of Justice and Federal Trade Commission have bolstered a conservative legal effort to dismantle environmental, social, and governance-based investment strategies from three large asset managers by claiming they illegally conspired to artificially raise energy prices.