The Future of the Firm Why ESG integrity is at a crossroads
In the latest episode of The Future of the Firm podcast, Dr. Katharina Weghmann, Global ESG Leader within Forensic & Integrity Services at EY, and Nick Jones, Director of Client & Markets Engagement also within Forensic & Integrity Services at EY, sat down with Emma Carroll, Head of Content at Source to discuss why ESG integrity is at a crossroads.
Nick and Katharina shared their insights on the following matters and more:
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Many organisations face challenges in clearly defining industry-relevant ESG targets and translating them into actionable initiatives. ESG efforts are often siloed from the organisation's core purpose and strategy; treated more as a compliance risk than as an integrated, strategic priority.
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A 'say-do gap' often exists between leadership’s ESG commitments and how employees perceive those priorities. Bridging this gap requires clear, consistent communication, and alignment across all stakeholders—employees, investors, customers, and boards.
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Companies that excel in ESG often view it as a long-term strategic imperative rather than a regulatory exercise. They integrate ESG into their purpose, are willing to make tough choices and short-term sacrifices for long-term value, and they prioritise building trust with all stakeholders.
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To drive Integrity-First ESG, organisations should prioritise a few key areas where they can make a significant and measurable impact, rather than spreading efforts across too many KPIs.
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Embracing collective action by collaborating with peers in the industry or region can accelerate progress toward shared ESG goals and deliver more meaningful change.
This podcast discusses EY’s article Why ESG integrity is at a crossroads between aspiration and regulation, which was rated as one of the top pieces of content in Source’s annual report, Quality Ratings of Thought Leadership for 2024.
If you enjoyed this conversation, don’t miss our sister podcast, Business Leader’s Voice. In a recent episode, we talked to Andrew Brothers, former CIO at Primark, about targeting tech investment in retail as a CIO.