Beyond reporting, there are countless actions companies might take to improve sustainability performance over time. Each issue, in turn, can be described through a variety of key performance indicators (KPIs) and metrics, each of which might be tracked and reported or monitored but not disclosed. The emergence of global reporting frameworks has narrowed the focus some, but even leading frameworks, such as the Sustainable Accounting Standards Board and Global Reporting Initiative, often disagree on the set of issues relevant to a given industry or type of company.įrom supply chain traceability to data privacy, executives must select a handful of issues out of dozens to address in an ESG program. So, what makes ESG different? While the newness of the focus on ESG, political polarization, and regulatory uncertainty add complexity, the biggest barrier remains the sheer number of choices executives face in launching a program. Pharmaceutical executives make tough decisions with value at risk every day. The greatest challenge pharmaceutical and biotechnology leaders face in launching environmental, social, and governance (ESG) programs is deciding where to focus.
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