ESG Talk
The Future of ESG Reporting
Jun 2, 2023
Allyson Anderson Book, Chief Sustainability Officer at Baker Hughes, discusses the company's transparency efforts and the significance of obtaining quality data for decision-making. They explore the advantages of ESG reporting in strengthening stakeholder relationships and meeting net zero goals, while also discussing challenges such as building human capital. The importance of board engagement and the changing landscape of board committees embracing ESG are also highlighted.
20:52
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Quick takeaways
- Baker Hughes aims for a 50% reduction in emissions by 2030 and net zero by 2050, focusing on improving data accuracy and completeness to achieve these targets.
- Transparency and trust in sustainability reporting build confidence among stakeholders, helping Baker Hughes demonstrate their commitment to their net zero goals.
Deep dives
Net Zero and Emissions Reduction Goals
Baker Hughes, under the leadership of Chief Sustainability Officer Allison Anderson-Book, has set ambitious net zero and emissions reduction goals. They aim for a 50% reduction in emissions by 2030 and net zero by 2050. To achieve these targets, Baker Hughes started by assessing their current efforts and data collection. They discovered gaps in data governance and fidelity, which led them to focus on improving data accuracy and completeness. This multi-year journey towards accurate emissions reporting has laid a strong foundation for their sustainability strategy.
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