Why Businesses Need ESG Reporting
Have you ever seen any business pushing on the environmental or social message just to get more sales? As businesses are making false ESG (Environmental, social, and governance) claims just to increase their bottom lines, ESG reporting has become even more vital. Recently, the investment management arm of Bank of New York Mellon Carp was fined 1.5 million dollars by the US Securities and Exchange Commission due to its funds’ deceptive claims about social and environmental criteria just to grab stocks. For businesses around the world, ESG reporting is becoming vital to winning over customers and security investments and staying compliant with governing bodies. What is ESG reporting? The ESG report discloses the data of a company’s environmental, social, and corporate governance initiatives. It provides insights into how sustainable and responsible a company is. Why is ESG reporting important? In many countries, ESG reporting is voluntary, aimed at helping businesses pr...