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Because ESG encompasses strategy, risk, and opportunity, the board plays a vital role. But ESG is a broad topic, and the board should consider assigning various aspects of oversight to specific committees.
Here we outline the role the audit committee can play in overseeing ESG disclosures.
Sustainability, also known as environmental, social and governance (ESG), is not a new concept. But for a long time, sustainability efforts existed in silos, were not integrated into the company’s core business model, and were not disclosed. So, what has changed? Why is this topic shaping today’s business world?
In this paper we answer those questions and outline the audit committee’s role in sustainability reporting.
Sustainability, also known as environmental, social and governance (ESG), is not a new concept. But for a long time, sustainability efforts existed in silos, were not integrated into the company’s core business model, and were not disclosed. So, what has changed? Why is this topic shaping today’s business world?
In this paper we answer those questions and outline the audit committee’s role in sustainability reporting.
As companies continue to integrate ESG into their strategies, they will need input from the full board. Boards that leverage the audit committee’s financial disclosure oversight expertise by assigning them the responsibility to oversee ESG disclosures can get ahead of the growing demand for this information. Enhanced ESG disclosure is a trend that’s only going to intensify in the coming years as regulators respond to rising concerns about the impact of environmental and social issues on business operations and performance.