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Week 1. The context

Content

Sustainability is no longer entirely optional:

  • While not uncontroversial, standards and legislation asking companies to engage in one or another form of sustainability reporting are becoming increasingly common – especially in the EU.

Sustainability can enable access to better financing is possible:

  • Banks and investors globally now often ask for environmental, social, and governance (ESG) risk disclosure and information about the UN’s Sustainable Development Goals (SDGs) as part of their financing process.

Requirements on companies will vary per region and size, inter alia, but they likely will mean a need for data gathering, analysis, and reporting. Pressure to lower the environmental impact of digital activities might also increase as a result.

Suggested literature

  • Al Hawaj, A.Y. & Buallay, A.M. 2022. A worldwide sectorial analysis of sustainability reporting and its impact on firm performance. Journal of Sustainable Finance & Investment, 12:1, 62-86. Link.
  • Baumüller, J. and Sopp, K. 2022. Double materiality and the shift from non-financial to European sustainability reporting: Review, outlook and implications. Journal of Applied Accounting Research, 23:1, 8-28. Link.
  • Bhagat, S. 2022. An inconvenient truth About ESG Investing. Harvard Business Review. Link.
  • Billing, M. 2021. Building the first sustainability unicorn. Sifted.eu. Link.
  • Carbon Trust. nd. Briefing: What are Scope 3 emissions? Carbon Trust. Link.
  • Edmans, A. 2022. The end of ESG. Financial Management, 52, 3-17. Link.
  • European Comission (EC). 2023. Corporate sustainability reporting. Link.
  • GlobalData. 2023. Evolving ESG regulations (Dashboard). GlobalData. Link.
  • Heller, D., Reiter, A., Schöbl, S., & Soller, H. 2023. ESG data governance: A growing imperative for banks. McKinsey. Link.
  • HM Government. 2023. Mobilising green investment: 2023 green finance strategy. Link.
  • IBM. nd. What is Net-Zero? IBM. Link.
  • Kirk, S. 2022. ESG must be split in two. Ft.com. Link.
  • Mace, M. 2023. ESG regulations have increased 155% in the last decade. Edie.net. Link.
  • Pedersen, E. 2023. The ESG regulatory revolution isn’t easing off. ESG Clarity Link.
  • Y Combinator. 2022. Request for Startups: Climate Tech. Y Combinator. Link.
  • CDP. 2022. CDP supply chain report 2022. CDP. Link.
  • United Nations (UN). nd. Biggest financial players back net zero. UN. Link.