Our client—a large international utility company, acting to accelerate the transition to a carbon-neutral world for a positive impact on people and planet – made an urgent call to us two days before Christmas. They were facing a fast-approaching financial reporting deadline over the Christmas holidays that required unique technical accounting expertise.
Environmental, social, and governance (ESG) goals are a necessary part of a company’s initiative toward sustainability and equality. ESG is gaining traction, with 91% of business leaders admitting that they think they are responsible for addressing ESG issues. These issues include carbon emissions, climate change, anti-corruption, water use, community development, and human rights. Changes in behavior and society are driven by incentives that are primarily financial, and this is why sustainable finance is critical to tackling these issues. Companies can incentivize customers to make eco-friendly decisions and invest in companies that are on a journey toward Net-Zero (or are already there). This is all a part of their ESG framework, which tracks, plans, and reports on an organization’s actions.