"The immediate challenge with ESG is to present something that is at least understood and defined for yourself. If you can explain what you are putting forward as a global entity in the first instance, you have hope." - Philip Miller, Chief Innovation Officer at Solidatus.
A poll at the recent A-Team ESG Insight Briefing revealed the biggest challenge around successful ESG data sourcing and management is the lack of standardisation across data sources. Unfortunately, the industry has known this is the case for quite some time, and whilst many been positive moves forward have been made to unify and simply standards, the same challenges still remain.
Regardless, the need to stay ahead of the curve on ESG - not just 'green-thinking', but tackling the social and governance too - is imperative to building a successful, future-proof framework now. So how can organisations tackle these issues to ensure that they are ready for when true compliance and harmonised standards take effect?
Philip Miller sat down with A-Team Insights alongside Navin Rauniar from PRMIA London Chapter, Hany Choueiri from Aldermore Bank, Lynn Watts from Royal London Asset Management and Fraser Hall from AxiomSL to delve deeper into these challenges and how they can be addressed by;
- Understanding data metrics and who within an organisation is responsible for defining them
- Ensuring internal language of ESG is well defined to avoid data ambiguity
- Organisations need to understand where they are at generally in terms of their own management of data, so it can be adapted to ESG frameworks and reporting
- Horizon-scanning: know what changes and developments are coming in the future so it can be applied to current frameworks and strategies
To find out more, watch the panel 'Addressing ESG data and reporting challenges' on-demand now: