Sustainability Part 2:
How the Focus on Sustainability Is Driving Data Governance
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Increasingly, organizations are embracing concepts associated with sustainability, at least in part in response to demands for greater transparency and accountability about actions that impact shareholders, employees, the communities in which companies operate, and the overall environment. While sustainability actions have long been voluntary and organizations could often adapt suggested guidelines to their own needs, new mandates, such as those from the European Union (EU) and the U.S. Securities and Exchange Commission (SEC), mean that sustainability reporting controls and compliance are now critical concerns for organizations.
As a result, companies will need to assess their approaches to sustainability reporting and data governance, whether they do so to comply with new or expected rules and stakeholder expectations, or to understand and track the value of sustainability efforts. This brief will discuss the use of nonfinancial data in sustainability reporting, as well as internal control, the value of leveraging technology, and other key considerations.