On July 16 in New York, PwC moderated a panel at a Sustainability Accounting Standards Board (SASB) event to explore how sustainability, finance, internal audit, and risk management can work together, create a cross-functional team and drive value for the business. As pressure from investors and other stakeholders to improve the quality of corporate reporting and incorporate non-financial metrics into financial reporting mounts, sustainability and finance organizations find themselves with a sense of shared purpose. There’s a real opportunity to improve external communications with investors and other stakeholders about how the business is creating value. Still not convinced? Ask yourself, and your colleagues from other departments, the following questions:
Improved corporate reporting is a goal that merits better cooperation between sustainability and finance functions in the interest of delivering greater benefits to business as a whole and ultimately to investors. What’s up for grabs? The panel mentioned several benefits, including improved risk management that encompasses social and environmental concerns, enhanced data quality for making decisions, and more robust reporting that better satisfies investor needs.