Research conducted by Oxford Economics reveals that surveyed finance leaders from midsize companies are stressing ESG’s importance as it becomes increasingly integral to business operations.Rapidly changing environmental, social, and governance factors are no longer just a global concern—they’re also challenging how businesses run locally and regionally. And finance leaders from growing companies are paying attention.
While finance plays a pivotal role in managing ESG compliance, every department from HR to operations must participate in driving ESG goals forward. Any failure in getting all executive stakeholders, employees, and suppliers aligned with ESG initiatives can expose the entire business to risks where it hurts most: the bottom line.
Based on these findings, Oxford Economics concludes that “embracing ESG and adopting emerging technology go hand in hand, and the best-performing organizations prioritize that union.”For companies operating locally, managing ESG standards may seem straightforward. However, in most midsize businesses, there is still a considerable disconnect in priorities.
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