Global context vs. Ireland's position
Globally, the situation is challenging. Our research finds that only 29% of companies worldwide have the ESG policies, skills, and systems in place to be ready for independent ESG data assurance despite looming deadlines.
The gap between leading companies and those in the early stages of assurance readiness is also widening, with skills and resources seen as the single biggest challenge for all levels of maturity.
However, here in Ireland, we are in a much stronger position. Recent findings from the KPMG CEO Outlook 2024 highlight that 60% of Irish CEOs report that their organisations possess the necessary capability and capacity to meet these stringent reporting requirements.
A preparedness that’s crucial as companies navigate the complex landscape of ESG reporting, which demands transparency, accuracy, and accountability.
Eva Sheehy, Director in the ESG Reporting and Assurance team at KPMG in Ireland, said: “The clock is ticking. In preparing for ESG assurance businesses are discovering that as they advance, there’s always more to understand and accomplish. This commitment is worthwhile—Boards are placing greater emphasis on it, and leaders are noticing a broader array of benefits as the practices associated with ESG assurance become integrated into their businesses. Robust ESG reporting also provides a framework for continuous improvement, as companies set ambitious targets, monitor progress, and make informed decisions that drive long-term value creation. Assurance services play a critical role in this process, providing independent verification of ESG data and enhancing the credibility of the reported information.”
