As Switzerland has adopted an ordinance requiring mandatory climate disclosures based on the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), Swiss companies are required to get up to speed on how to use TCFD to better understand climate risks and opportunities. In this webinar, Peregrine Chard, Head of Risk at Ocado Group shared some practical insights from their inspiring ESG strategy, and Finch & Beak’s TCFD expert Josephin Schulz made the case for why TCFD is beneficial, elaborated on the climate risk analysis process, and shared some best practice tips.
The recent COP27 once again highlighted urgent topics that need global attention, results that were achieved (and unfortunately also those that were not), and provided enough challenges and considerations for organizations and countries to deliberate forthcoming change. A new agenda topic is that of loss and damage which unified countries in agreement about establishing a fund for assisting and supporting developing countries. In this article, we briefly elaborate on some of the main topics discussed, highlight takeaways of the event that are worth considering as part of an organization’s sustainability agenda, and specifically, consider how these challenges can be addressed through the activation of material ESG topics. The downloadable checklist for materiality activation is a helpful tool to support your organization in starting the process.
On 13 December, Finch & Beak organized an ESG Acceleration Webinar to discuss the key takeaways of the State of ESG 2023 Report. During the session, ESG experts Nikkie Vinke and Josephin Schulz explained the four main challenges of the State of ESG 2023 and how to deal with them: the ESG reporting trap, engaging the board, leveraging TCFD, and the increased scope of company boundaries. This article summarizes the webinar highlights and includes a download with four tips for ESG acceleration in 2023.
On Friday the 9th of December, S&P Dow Jones Indices announced the results of its annual Dow Jones Sustainability Indices (DJSI) review. Air Liquide, GEA Group, TotalEnergies and Whitbread are among the new members in 2022’s Indices, while Caterpillar, Zurich Insurance Group and Rio Tinto are part of the companies which lost their spot in the World Index. With the ESG playing field becoming more complex, activation of corporate sustainability programs is an essential factor for success. This article summarizes the DJSI results and pinpoints the corresponding takeaways from Finch & Beak’s new State of ESG 2023 Report.
Based on recent developments and insights from its annual ESG Market Survey completed by 160+ European stock listed companies, Finch & Beak's State of ESG 2023 Report outlines four main ESG challenges surfacing in today's dynamic business environment. For companies looking to increase the effectiveness of their sustainability programs and for corporate decision makers looking to prioritize their budgetary limitations, the report suggests how to avoid the ESG reporting trap, leverage TCFD, engage your board better, and improve the insights into your supply chain, while also reflecting on the freshly released Dow Jones Sustainability Index 2022 results.
Although yielding many positive outcomes, unfortunately, this year’s COP27 proved that the clock speed with official negotiations is much slower than that by the actors of the real economy where the discussion is about speeding up the transformations and getting finances to flow. Different this year from previous conferences was that there is consensus that we can’t afford any other way than a way forward, towards 1.5°C. This article is a personal account by Peter Bakker, President and CEO of the World Business Council for Sustainable Development (WBCSD) summarizing the key takeaways and elaborating on why collaboration and accountability are the way to get from commitment to action.
For organizations to remain competitive, embedding ESG in their business strategies is imperative. As a first step in strategy-making usually entails analyzing and understanding the organization’s inside and outside contexts, a double materiality assessment is a great tool to help organizations consider the impacts of both of these. On top of the assessment being foundational for integrating ESG in organizational strategies, it will be required as part of the EU approved Corporate Sustainability Reporting Directive (CSRD). In this article, we discuss the importance of considering materiality as a starting point for your strategy, elaborate on other strategy building blocks, and provide tips and practical guidance for a successful double materiality assessment.
To be well prepared for the upcoming Dow Jones Sustainability Index (DJSI) season, it is recommendable to take a forward-looking approach and start the preparation phase early. This article summarizes the benefits of preparing early for S&P Global's Corporate Sustainability Assessment (CSA) participation, suggests where to start, and what can be learned from a company that successfully increased its score due to early preparation in 2022.
On 28 November 2022, the European Council approved the proposed Corporate Sustainability Reporting Directive (CSRD), which aims to revolutionize sustainable reporting and parallel it with financial reporting. The Directive replaces the existing Non-Financial Reporting Directive (NFRD) and will substantially increase reporting requirements for companies falling within its scope. This article addresses uncertainties about scope, timelines, and implications for business by providing clarification about the CSRD’s requirements as well as giving practical recommendations to prepare for compliance in 2023 and beyond.
Engaging stakeholders is essential for companies to build a strong strategy, meet ESG (environmental, social, and governance) commitments and scale their impact. However, successfully collaborating with stakeholders to achieve these outcomes brings other challenges. In this article, we outline the case for, and provide three tips on stakeholder engagement to accelerate ESG performance. More specifically, we consider how materiality assessments can facilitate and enhance the process of stakeholder engagement. For more practical insights, the download provides three tips on how companies can engage their stakeholders while conducting their materiality assessment.