The 2023 survey covers more than 900 professionals with expertise in ESG reporting within their companies. Developed in collaboration with Alex Edmans, Professor of Finance at London Business School, the 2023 survey builds on the previous year’s 2022 Global ESG Practitioner Survey, which focused on the challenges and opportunities presented by reporting on ESG criteria.
“We are well aware that ESG criteria are receiving increasing attention around the tables of directors or that increasingly complex frameworks, standards and regulations pose new challenges for ESG reporting. , explains Alex Edmans. What strikes me in view of the results of this survey is the dichotomy that exists between managers at all levels who believe that ESG reporting in itself offers adequate value, while frontline managers consider that they do not are not treated with the rigor they require. »
Notable differences of opinion
The survey reveals a disparity in the perception of the problem at the different hierarchical levels. While 62% of executives believe their company applies the same level of attention to ESG reporting as financial reporting, only 32% of executives and senior managers share this sentiment. Similarly, 87% of executives say their company has appointed someone to deal with ESG issues, while 68% of managers say the same.
These figures highlight a significant disconnect between company management and its employees. This could suggest that companies are not fully prepared to comply with the new regulations, confirming the results of a previous survey commissioned by Workiva and PwC.
Reporting and technology to unlock the value of ESG
Despite this disparity of perceptions, the people affected by this issue overwhelmingly recognize that there is real intrinsic value that can be derived from ESG reporting. Respondents in companies that have established ESG reports for five years or more more easily recognize that ESG has generated savings and improved the brand image and/or reputation of the establishment, compared to companies that have done so. to ESG reporting for two years or less.
Finally, those concerned with ESG are more and more inclined to believe that technology is a key element of reporting. Almost all (95%) of respondents agree that having the right technology is a fundamental element to effectively manage the ESG reporting process, which marks a 19% increase compared to the figures of the survey carried out on 2019. last year. 97% of professionals surveyed agree that access to technology and data will play a critical role in the decisions that will be made to advance their ESG strategy.
“This survey confirms the experience that customers share with us every day at Workiva. Although the issues and concerns related to investments and regulations in general remain priority subjects, experts in the field know very well that this question goes far beyond the mere need to respond to external demand. Done right, ESG reporting reveals opportunities and gives managers a vision of the future that will set them apart from the competition, says Paul Volpe, senior vice president of growth and chief ESG solutions at Workiva. But the complexity of ESG reporting is undeniable. The professionals involved recognize that technology is the backbone of the reporting process, and it is up to business leaders to provide their teams with the tools they need to fully unlock the value of ESG. »
About the survey
In collaboration with Workiva, Ascend2 conducted an international online survey in July 2023 on ESG criteria and reporting practices. Ascend2 surveyed 926 professionals in teams directly involved in ESG reporting, including senior executives and managers from finance and accounting departments, ESG operations departments, internal audit managers and legal departments.
Respondents to the survey were professionals active in nine leading international markets – Germany, Australia, Canada, United States, France, Japan, Netherlands, United Kingdom and Singapore. All of the respondents came from companies with annual recurring revenues of at least $250M, with nearly half (45%) of them having revenues over $1B.
2023-08-22 20:11:46
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