ESG Reporting Services
ESG reporting addresses Environmental, Social, and Governance matters. In recent years, companies have prioritized ESG reporting because investors, lenders, regulators, employees, and consumers have all shown increased interest in these values as well as the challenges that ESG risks may pose to organizations. The regulatory and reporting frameworks around ESG are varied, complex, and rapidly evolving. Although the impact of ESG matters on organizations may vary depending on their business strategies, customers, and risks, most entities will be affected in some manner. The need for each company to establish ESG policies, guidelines, principles, and reporting processes is increasingly important. To fully respond to ESG-related risks and opportunities, management teams must establish sound and repeatable reporting and control processes around these unfamiliar principles and metrics.
How CFGI Helps
CFGI is an established leader in accounting advisory, business transformation, and risk advisory services, providing financial and operational expertise to our clients across industries. The challenges of implementing an ESG reporting process are no different than those associated with other process implementation projects that we have assisted clients with in the past. ESG reporting affects many elements of an organization’s financial processes, and our professionals have the skillsets to help companies meet those challenges.
We follow a four-phased approach to implement new accounting and reporting processes, including ESG. This practical approach has been applied successfully to help companies develop and create the dynamic reporting frameworks that are critical to meeting the demands of an evolving reporting landscape.
CFGI’s Four-Phase ESG Reporting Roadmap:
- Understanding, scoping, and planning
- Data collection and technical assessment
- Measurement (including updates to applications, systems, process) & other requirements
- Financial reporting and disclosures
The impact of ESG stretches beyond accounting and reporting to the key business decisions a company makes. Our financial, business, and technological acumen and advice reflect both technical expertise and a practical, hands-on approach. There is no one-size-fits-all solution; CFGI can establish a cross-functional team that addresses an organization’s reporting challenges.