- 23.05.2023 23.05.2023 Ihre derzeitige Zeitzone
- Webinar
-
Michel Foong is the Head of Risk Management, Group Finance and Treasury IT at Swiss Re AG in Zurich, a global reinsurance company. In his capacity, he oversees the technical solutions for all sustainability reporting-related activities and is the sponsor of a global program that introduces the capability to disclose on sustainability related laws and regulations. Before joining Swiss Re, Michel worked for UBS in various functions, including risk management, FX, and treasury.
-
Nico Frey is the Head of SDG Methodology at radicant AG, Zürich, a digital neo-bank fully aligned to the Sustainable Development Goals (SDGs). He built a data-based methodology to help clients invest in companies contributing to the UN SDGs in a transparent and understandable way. Before joining radicant, Nico was sustainable investing analyst at Bank J. Safra Sarasin and held various other sustainability functions in different organizations and sectors. Nico holds a Master’s degree in International Affairs and Governance from the University of St.Gallen.
-
Beatrice Fässler is the Sustainable Finance lead of BearingPoint Switzerland. As a Manager in the Banking & Capital Markets Team she helps clients with their voluntary and mandatory sustainability reporting, ESG data strategy and client advisory process. Prior to moving to BearingPoint, Beatrice held various positions at UBS in Hong Kong and in Zurich, where her last role was ESG project manager in the APAC Sustainable Finance Office. She holds a Master’s degree in International Management and International Affairs & Governance from the University of St.Gallen.
Achieving sustainable development requires collaborative efforts and coordinated actions from various stakeholders, including corporations and investors. The Sustainability Talk on Sustainability Reporting successfully brought together these two perspectives. Our notable guest speakers shed light on the implementation of regulations related to sustainability reporting from a corporate standpoint, and provided insights into how investors can utilize sustainability reports to guide their investment decisions. The talk emphasized the evolving regulatory landscape, investors’ expectations towards sustainability reporting, its implications, challenges, and best practices associated with implementing laws and regulations on non-financial disclosures.
Evolution of the regulatory landscape
The regulatory landscape is experiencing a significant shift from voluntary reporting to more stringent requirements. Over the past years, 40+ global regulations have been introduced, increasing the scope and complexity of sustainability information to be disclosed. While this enhances transparency and supports standardization, it also poses challenges such as increased costs and difficulties in data management for organizations.
Changing investor expectations
Standardization of the content disclosed in sustainability reports, is a key investor demand as it facilitates meaningful comparisons among companies. Furthermore, while in the past the focus mainly lied on operational aspects and ESG risk management, investors are increasingly assessing companies' business models and how they contribute to sustainable development through their products and services. As a result, a reporting approach that reflects how sustainability is integrated into the business strategy, is gaining prominence.
Implications and challenges
Both speakers acknowledge the importance of sustainability reporting since it allows for transparency, standardization, and reduced green washing. It encourages companies to make sustainability a management priority and to drive their sustainability agenda. However, there are several challenges associated with sustainability reporting from a corporate perspective. These include the increasing complexity and costs associated with complying to evolving sustainability regulations, the stringent rules on data quality and traceability to ensure auditability as well as the interpretation of loosely formulated regulations, which often only establish ambitious goals without clear guidelines.
Best practice for organizational readiness
Key factors for successfully setting up organizations to deliver on sustainability reporting requirements include clarifying reporting obligations in different jurisdictions and assigning clear priorities, identifying internal responsibilities for reports and data ownership, ensuring data quality and traceability (comparably with financial reporting standards), and securing top-down support with executive sponsorship. By delivering on reporting requirements, companies can demonstrate their commitment to sustainability, while investors can make informed decisions based on standardized and comparable data.