“If it does not start now, there is a danger that we are not ready for it [ISSB] standards,” she said.
“And we are catching up – Europe is more advanced than us.”
Listed companies have developed a more complex approach to ESG reporting over the past few years as investors have begun to focus on these details. Despite this, PwC’s research from 2022 shows that there are still significant gaps when it comes to the types of information that is shared with the market.
Only a quarter of companies explain to their shareholders the qualifications of board members to run a company in the face of climate change, and only six percent explain how their boards are trained on the issue.
While the number of listed companies with gender diversity goals has jumped to 77 percent this year, 23 percent of companies don’t disclose their goals or how they track those goals.
“It’s a bit surprising that not everyone reveals their politics in this day and age. This has become a problem in the market…customers care about it, and investors care about it. I think you’ll find that if companies don’t take it seriously,” Stabbins said. Grandpa, she will suffer.”
PwC Australia’s insurance leader, Kristen Stebbins.
It also urged ASX-listed companies to do more on their reconciliation work plans, with only 33 per cent of companies outlining a strategy endorsed by Reconciliation Australia.
“I think it’s something all ASX 200 companies should strive for.”
Many of Australia’s largest retailers have defined comprehensive sustainability policies over the past two years, including net zero carbon commitments, but the difficulty of tracking indirect and supply chain emissions, known as Scope 3 emissions, remains a challenge. A recent review of the retail sector by Microsoft revealed that one in four companies were not confident of meeting their zero net goals.
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Originally published at Melbourne News Vine
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