Who works on ESG teams?
Here’s a note from Waheed Hassan:
Nasdaq recently commissioned an independent research firm, Verdantix, to assess the integration of ESG and sustainability factors into the strategic planning of various executives within US and EU corporations.
Survey Result 1: Who Works on ESG Teams?
▫️Only 14% of senior ESG team members are actually dedicated to that role full-time.
▫️Nearly half of the most senior ESG team members are taking on ESG in addition to their normal responsibilities.
What does this mean? This survey result suggests:
▪️A potential skills deficit at the leadership level
▪️Difficulties with hiring skilled ESG and sustainability personnel
Survey Result 2: What are the Biggest Business Challenges of ESG?
▫️ESG Reporting in alignment with various standards and frameworks;
▫️Collecting material ESG data; and more.
In response to the results of this survey, Nasdaq provided four clear recommendations for companies looking to improve their ESG program:
– Appoint a dedicated ESG executive
– Seek specialized ESG consulting services
– Establish data collection processes
– Focus investments to meet and demonstrate progress towards ESG goals