A report from EY and Oxford Analytica released today (14 July), outlines five areas of ESG reporting that needs to be addressed to bring it up to speed with financial reporting, as they warn that growing allegations of greenwashing are at risk of eroding credibility.
The report, The emerging sustainability information ecosystem, said ESG investing is "facing existential questions" about standardisation, regulation and purpose. These challenges are being "compounded" due to rising inflation and the war in Ukraine. It also highlighted that while there are "increasing connections" between financial reporting and ESG reporting, there remain significant challenges with the latter. "The additional voices and perspectives that shape the ESG ecosystem, including civil society and people in employment…calls for greater engagement among these groups," a pre...
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