“In a recent global survey, 82% of respondents said they want business leaders to do more on climate change. Yet, a global study of more than 1,000 executives found that 76% do not trust the data of their competitors’ sustainability reports. Worse, only 47% report a willingness to share their environmental, social and corporate governance (ESG) data with third parties. A backlash from investors is also brewing: one survey found that nearly three out of four institutional investors do not trust companies to achieve their stated ESG commitments.”

[COMMENTARY]  The thrust of this article is for government regulation. I’ve said for decades that corporate ESG reporting standards should be codified and that they are professionally audited by regulated, professional ‘ESG auditors.’ These auditors should create suitable standards for auditing and sign off on corporate reports. All of this is happening with many of the major accounting firms engaged. The writer of the article seems largely unaware of this and the terrific private/public groups already engaged in this process. All stakeholders will soon have much more confidence in corporate ESG reports.
World Economic Forum, May 23, 2023, Switzerland.