Details
Markets are moving from voluntary and unstructured environmental, social, and governance (ESG) data and sustainability reporting to mandatory and standardized sustainability disclosures. To deliver and sustain these reporting trends, companies need a framework for properly managing their ESG and sustainability data. The good news is, they don’t have to start from scratch: the knowledge and tools to achieve quality ESG data and disclosures already exist and simply need to be brought to the rapidly emerging sustainability practices.
The EDM Council ESG Working Group has produced a practical playbook illustrating how two such tools, the COSO Internal Control over Sustainability Reporting (ICSR) guidance and the DCAM data management framework, can effectively be leveraged. In this webinar, the playbook’s authors will explain how companies can use it to achieve appropriately governed and managed ESG and sustainability data and disclosures.
Speakers
Post-event summary
The webinar titled “ESG Data Management Playbook: How to Produce Reliable Data,” hosted by EDM Council featured a dynamic and insightful discussion among industry experts:
- Stuart Wallace, Director, Financial Services Consulting, AI & Data, EY
- David Wray, President, DFCG International Group
- Moderator: Carole Mahoney, Head of Member Support Services, EDM Council
The session focused on the evolving landscape of environmental, social, and governance (ESG) data management and the shift from voluntary to mandatory and standardized sustainability disclosures. As companies face increasing regulatory pressures, there is a need for a robust framework to manage ESG and sustainability data effectively.
The EDM Council’s ESG Special Interest Group has developed a practical playbook to help companies design and implement data governance and management strategies for ESG data. This playbook leverages existing frameworks like the Data Capability Assessment Model (DCAM) and the Committee of Sponsoring Organizations (COSO) framework, which have been updated to include internal control over sustainability reporting.
Speakers emphasized the importance of a common language and structured approach to managing ESG data. They highlighted that the playbook aims to bridge the gap between various functional areas within organizations, such as finance, data management, and sustainability roles, to foster collaboration and ensure high-quality data for both internal decision-making and external reporting.
One of the key takeaways from the webinar is the necessity of high-quality ESG data for making informed strategic and operational decisions. “There really is a driving need for high quality ESG and sustainability data…for internal decisions and external disclosure,” noted David, emphasizing the dual purpose of this data.
The session also demonstrated the use of Solidatus, a tool for mapping the playbook’s principles to the DCAM and COSO frameworks, allowing organizations to visualize and manage their data governance processes effectively. The webinar concluded with a call to action for organizations to start implementing these practices immediately to meet the upcoming regulatory requirements and improve their overall ESG data management.