Global ESG Practitioner Survey Results Published
May 7, 2024
According to the 2024 ESG Practitioner Survey by Workiva, an international consulting firm, over 80% of companies not subject to the EU’s Corporate Sustainability Reporting Directive (CSRD) still intend to comply. The survey polled more than 2,000 people involved in ESG reporting from organizations across North America, Europe, and Asia.
Additional key findings include:
- 87% of respondents find it challenging to adapt reporting processes to comply with new regulations;
- 88% believe that assurance over ESG data increases the likelihood that a company will achieve its goals;
- 98% say they are confident in the accuracy of their ESG data, but 83% also believe that collecting accurate data to fulfill the CSRD requirements will be challenging; and
- 88% of practitioners say that having a strong ESG reporting program will give their organization a competitive advantage.
Why it matters: The survey’s findings also reflect the reality for U.S. companies, since the EU’s recently passed Corporate Sustainability Due Diligence Directive (CSDDD) “will require thousands of companies, both inside and outside of the EU, to integrate human rights concerns and environmental impacts within their governance.”
However, the survey found that 78% of practitioners are concerned with their organization’s ability to collect and share information with other organizations in their value chain.
Finally, according to survey results, organizations that don’t adapt, “will struggle to absorb the additional workload required to comply with the CSRD, CSDDD, SEC climate disclosure rule, or standards established by the International Sustainability Standards Board (ISSB).”
CREFC recently circulated its 2024 Sustainability Survey among membership and is currently analyzing the results. Stay tuned for the report.
Please contact Sairah Burki (sburki@crefc.org) with questions.