Bringing the rigor of enterprise financial reporting to ESG requires investment in education and training to develop consistency and appropriate controls for data collection — basics such as standard emissions factors, units of measure and system boundaries. Executives must also use this information differently. And it all takes time. So take the long view and get started now.
Innovating With Big Tech to Solve Social Problems: A Q&A With the Asian Development Bank’s Ozzeir Khan ADB needed help on ESG issues from digital giants such as Microsoft, Google and Amazon — companies with patient investors, deep pockets and talent benches, and a mastery of monetizing data. Khan told us about his lessons learned.Commitments to socially conscious activities aren’t enough to drive brand loyalty and advocacy. Executive leaders must go a step further: show stakeholders how they contribute to and benefit from sustainable business efforts. Let them share in your success.