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2023 | OriginalPaper | Buchkapitel

5. Designing and Reporting ESG Disclosures

verfasst von : Karamo NM Sonko, Mariama Sonko

Erschienen in: Demystifying Environmental, Social and Governance (ESG)

Verlag: Springer International Publishing

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Abstract

In this chapter, we take the reader through the practical design and application of ESG reporting. We explain concepts that are essential and opportunities for sustainability that can be utilized in the process. We explore the list of reporting formats and rating agencies that dominate the international ESG reporting landscape. We also present actual ESG/sustainability reports of different organizations and end up with one that we have designed and applied to a unique and operating project of empowerment and inclusion for the benefit of persons of special needs in Africa.

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Fußnoten
1
Kgalema Motlanthe, “Remarks at the First High-level Webinar on ESG and Stakeholder Capitalism in Africa,” Virtual Conference organized by Heeno International and partners on 28 January 2022.
 
2
LSEG, Revealing the full picture. Your guide to ESG reporting Guidance for issuers on the integration of ESG into investor reporting and communication. London, 2020; the reader may also refer to Steward Redqueen, European Bank for Reconstruction and Development (EBRD) and the Warsaw Stock Exchange (WSE/GPW), May 2021.
 
3
For more information on the map, the interested reader should refer to: https://​www.​sasb.​org/​standards/​materiality-map/​.
 
4
Bowers, T., “From Image to Economic Value: A Genre Analysis of Sustainability Reporting”, Corporate Communications: An International Journal, Vol. 15, No. 3 (2010): 249–262. https://​doi.​org/​10.​1108/​1356328101106811​3.
 
5
For very simple illustrations of goals and KPIs, see for instance, Tableau, “What Are SMART Goals? Definition, Best Practices, And How To Make Your Own,” https://​www.​tableau.​com/​learn/​articles/​smart-goals-criteria, retrieved April 24, 2023. For in-depth or scholarly analysis the interested reader may refer to Robert S. Rubin, “Will the Real SMART Goals Please Stand Up?” https://​citeseerx.​ist.​psu.​edu/​viewdoc/​download?​doi=​10.​1.​1.​523.​6999&​rep=​rep1&​type=​pdf, retrieved April 25, 2023; Doran, G. T. (1981), “There’s a S.M.A.R.T. Way to Write Management’s Goals and Objectives,” Management Review, 70 (11): 35–36; and Peter Drucker, The Practice of Management, New York: Harper, 1954; or later editions—Heinemann, London, 1955; revised edition, Butterworth-Heinemann, 2007; and Queensland Government, “Short and Long-Term Goals and KPIs,” https://​www.​business.​qld.​gov.​au/​running-business/​planning/​goals-kpi, last visited April 24, 2023.
 
6
On this point the reader may also refer to World Business Council for Sustainable Development (WBCSD) & FSR—Danish Auditors, “Guidance on improving the quality of ESG information for decision-making. Developing a roadmap for companies,” June 2019.
 
7
For an introduction to double materiality and why it is important, the reader may refer to Matthias Täger, “‘Double Materiality’: What Is It and Why Does It Matter?” Commentary, the London School of Economics and Political Science, Grantham Research Institute, 21 April 2021, retrieved April 25, 2023.
 
9
In a study by Christensen, Serafeim and Sikochi (2021) it was found that the number of these agencies has increased dramatically and there are disagreements among them on how to rate companies and therefore the outcomes. See Dane Christensen, George Serafeim and Anywhere Sikochi, “Why is Corporate Virtue in the Eye of The Beholder? The Case of ESG Ratings,” Harvard Business School, Working Paper 20-084, 2021. On impact and measurement challenges see also Sara Lovisolo, “Global Environmental, Social and Governance (ESG) Capital Allocation Strategies Between Impact Ambitions and Measurement Challenges,” IAI Papers 21/35, July 2021; and Elizabeth Pollman, “The Making and Meaning of ESG,” University of Pennsylvania and ECGI, Law Working Paper N° 659/2022 September 2022.
 
10
For an example of such scores the reader may refer to Refinitiv, “Environmental, Social and Governance Scores from Refinitiv,” LSEG, May 2022, https://​drive.​google.​com/​file/​d/​1dRi3iAETlHrU_​d-osAWqzMoF3IyMZl0​H/​view, accessed April 12, 2023.
 
11
Most of the mandatory reporting is in the environmental area where are many laws now across the world, although not equally enforced across countries.
 
12
ESG is still going through an evolutionary phase with a lack of complete clarity on a number of issues, such as what should be mandatory and what should not be. However, much of what tends to be mandatory so far is in the environmental domain and increasingly community economic empowerment. The rest is mainly voluntary, peer-pressured or for public relations.
 
13
For more on Green Finance the interested reader may refer to the Green Finance Platform, “Explore Green Finance”, Geneva, 2021, https://​www.​greenfinanceplat​form.​org/​page/​explore-green-finance; Sean Fleming, “What Is Green Finance and Why Is It Important?” World Economic Forum, 9 November 2020, https://​www.​weforum.​org/​agenda/​2020/​11/​what-is-green-finance/​, last visited 14 March, 2022; Journal of Sustainable Finance & Investment, Special Issue: Sustainable Finance for Continued Entrepreneurship Growth in Developing Economies, Volume 12, Issue 1, 2022.
 
14
For more information on the Taxonomy see the European Commission (EC), Research and Innovation at the Heart of the EU Taxonomy, https://​ec.​europa.​eu/​info/​sites/​default/​files/​research_​and_​innovation/​strategy_​on_​research_​and_​innovation/​documents/​ec_​rtd_​research-innovation-eu-taxonomy.​pdf; and EC, Sustainable Finance and EU Taxonomy: Commission takes further steps to channel money towards sustainable activities, https://​ec.​europa.​eu/​commission/​presscorner/​detail/​en/​ip_​21_​1804, last visited July 17, 2022; and Holly Pettingale, Stéphane de Maupeou, and Peter Reilly, “EU Taxonomy and the Future of Reporting,” Harvard Law School Forum on Corporate Governance, April 4, 2022.
 
15
See for instance, OECD, Developing Sustainable Finance Definitions and Taxonomies. A Brief for Policy Makers, Paris, OECD, October 2020, available at https://​www.​oecd.​org/​environment/​cc/​developing-sustainable-finance-definitions-and-taxonomies-brief-for-policy-makers.​pdf, last visited March 13, 2020.
 
16
See Chapter 8 for prioritizing priorities for Africa as a whole.
 
17
The Investment Company Institute, “Funds’ Use of ESG Integration and Sustainable Investing Strategies: An Introduction,” July 2020, file:///C:/Users/HP/Downloads/pdf_20_ppr_esg_integration.pdf, accessed April 12, 2023.
 
18
Kgalema Motlanthe, ibid.?
 
19
One of the objectives of the Environmental and Social Safeguards Strengthening Action Plan (SSAP) 2020–2025 is to support capacity building in social governance (ESG) reporting Africa.
 
20
For elaboration on this point, see Chapter 8 and scholarly studies of the circular economy as a concept and in practice see Erick Hungaro Arruda et al., “Circular economy: A brief literature review (2015–2020),” Sustainable Operations and Computers, Volume 2, 2021, pp. 79–86, retrieved April 25, 2023.
 
21
See for instance, NATF, Green Financial Products and Services. Current Trends and Future Opportunities in North America. A report of the North American Task Force (NATF) of the United Nations Environment Programme Finance Initiative, Toronto, August 2007.
 
23
A non-binding agreement under the auspices of the United Nations to encourage businesses to adopt socially responsible practices and disclose progress in their implementation. As of July 2022, 16,540
Companies from 158 countries were members of the pact. For more information visit: https://​www.​unglobalcompact.​org/​.
 
Metadaten
Titel
Designing and Reporting ESG Disclosures
verfasst von
Karamo NM Sonko
Mariama Sonko
Copyright-Jahr
2023
DOI
https://doi.org/10.1007/978-3-031-35867-8_5