Stakeholders – from regulators and investors to customers and the public – are putting your Environmental, Social and Governance (ESG) metrics and disclosures under increasing scrutiny. They want access to credible, verifiable and comparable ESG metrics to support decisions on the areas that matter most to them. Developing and managing a strategy for reporting on ESG is critical to demonstrate credibility to stakeholders, meet investor expectations, and lead among your peers.
Emerging reporting frameworks
The ESG reporting landscape is transforming, with corporate activity set to be highly scrutinized under new global sustainability reporting standards. Is your business prepared?
Considerations for your leadership team
- Have you identified and prioritized ESG issues which truly matter to your business and stakeholders?
- Have you developed a multi-year ESG reporting strategy informed by stakeholder feedback and evolving ESG disclosure requirements?
- How are you measuring and reporting on the environmental (e.g., greenhouse gas emissions) and social (e.g., diversity, equity, inclusion, human rights and Indigenous reconciliation efforts) impacts of your business operations?
- Are your ESG metrics and reported performance against targets accurate and complete? Is your ESG data ready for third-party assurance?
- Are your business functions - governance, people, process, technology and data - optimized to deliver on the next generation of ESG reporting?
KPMG’s capabilities in disclosure and assurance-related services make it a strong shortlisting candidate for businesses that are at the readiness stage for complying with regulations. Furthermore, KPMG’s global footprint will be a benefit to firms with cross-jurisdictional operations and complex disclosure requirements.
How we can help our clients
- Enabling effective ESG reporting, including single and double materiality assessments, benchmarking, content identification and development, reporting structure and data requirements planning, and compliance reviews.
- Aligning with various ESG reporting standards (ISSB, ESRS, SEC) and frameworks (TNFD, GRI, CDP and UN SDGs) including framework selection guidance, gap assessments, and implementation support
- Developing an (inaugural) ESG report and/or an integrated report.
- Enhancing data quality, including designing appropriate metrics, preparing effective methodology statements, improving the rigor or efficiency of the reporting process and relevant controls.
- Assisting with ESG reporting system vendor selection and / or implementation. KPMG in Canada has strategic alliances with Microsoft, ServiceNow, Salesforce and others to equip your organization with the right technology solutions and platforms to address your ESG reporting needs.
- Preparing for third-party assurance over ESG reporting and data; As market and stakeholder expectations evolve and reporting requirements become mandatory, the information that businesses report must be robust and independently assured to gain the trust of investors, stakeholders and the wider public.
Insights
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ESG resources
Frequently asked questions (FAQs)
Connect with one of our ESG Reporting leaders.
Emissions, key adopted standards and regulatory requirements. KPMG in Canada can help clients track ESG progress and recommend future ESG-related decisions that need to be made.
At KPMG in Canada, we combine our knowledge and skills across ESG requirements and technical accounting to provide integrated reporting and disclosure solutions that align with industry standards, ratings and trends.
The Financial Stability Board established the Task force on Climate Related Financial Disclosures (TCFD) to develop guidance to enhance public disclosure of climate-related risks of impact on a company. This helps investors to understand a company’s exposure to climate risk.
The Taskforce on Nature-related Financial Disclosures (TNFD) was established in response to the growing acknowledgement that nature should be factored into financial and business decisions. The TNFD is a global, market-driven, science-led and government-backed initiative.
The Sustainability Accounting Standards Board (SASB) provides sustainability accounting standards for use by reporting issuers. SASB standards focus on financially material issues; its mission is to help businesses around the world report on the sustainability topics that matter most to their investors.
The 17 Sustainable Development Goals (SDGs) were set up by the United Nations as a universal call to action to end poverty, protect the planet and ensure that all people enjoy peace and prosperity by 2030.
GRI (Global Reporting Initiative) is the independent, international organization that helps businesses and other organizations take responsibility for their impacts, by providing them with the global common language to communicate those impacts.
The International Integrated Reporting Council (IIRC) is a global coalition of regulators, investors, companies, standard setters, the accounting profession, academia and NGOs that promotes communication about value creation, preservation and erosion as the next step in the evolution of corporate reporting.
The World Economic Forum, together with the International Business Council, have worked with the Big Four to build a list of ESG metrics every company should be able to report against. This is currently under consultation.
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