Insights and expert advice from our panel discussion on ESG reporting

At the end of August, we hosted a panel discussion: Navigating ESG Reporting Complexity: Perspectives from Key Industry Leaders.

 The event took place at the Singapore Sustainability Academy, a net-zero event space, in the centre of Singapore.

The evening included a panel discussion, featuring a lineup of sustainability experts, including:

• Justin Ma, Executive Director - Sustainable Finance Standard Chartered
• Gerard Lim, Business Process Lead - Motul Asia Pacific
• Dr Allinnettes Adigue , Director – ASEAN - Global Reporting Initiative (GRI)
• Hari Nair, CEO and Cofounder – Zuno Carbon
• Moderator: Emma Jenkins-Lee, Managing Director -Spurwing Communications

We carefully selected the panel to ensure a diverse range of perspectives from experts across different industries. Our panelists also represented different stakeholders throughout the ESG reporting process to provide the audience with valuable insights into the challenges and best practices in ESG reporting.

Our panelists discussed the complexities of ESG reporting and the challenges faced by companies who are undertaking sustainability reporting, from manpower restraints and complex data, to lack of internal company awareness of the need for reporting.

Let’s takea look at some of the topics that were discussed:

As someone who is leading his company through their first ESG reporting journey, Gerard shared his experience of undertaking carbon accounting and ESG tracking across five locations. The company is not driven to report by mandatory disclosures so Motul is a great example of an organization staying ahead of regulations and proactively monitoring its environmental impact.

He shared how technology has enhanced his team’s coordination and centralized carbon accounting data. This allows the company to advance their sustainability initiatives cohesively, rather than through fragmented efforts.

Justin, with his wealth of experience in sustainable finance, emphasized to the audience the importance of producing clear, transparent and comprehensive sustainability reports. This provides banks with better visibility into risks, facilitating improved collaboration and making it easier for investors to evaluate your risk.

As a GRI representative, Dr Allinnettes provided useful advice for companies who are struggling to start their reporting. She discussed the importance of a company establishing their sustainability objectives and how this can help guide them when deciding on the frameworks and standards they will use. She advised that the first step companies need to take is to start an ESG materiality assessment to prioritize ESG issues that are the most important for their company. Once this has been completed, companies can begin to assess which frameworks and standards to use for their reporting.

She also highlighted how ESG compliance and reporting is becoming increasingly important for SMEs, due to the introduction of climate reporting regulations which require listed companies to also report Scope 3 emissions. If SMEs can get ahead and prove their sustainability efforts, they will have an added advantage and be more attractive partners for large corporations.

Hari, as CEO and Co-founder of Zuno Carbon, is well placed to understand that despite the need for SMEs to make progress on their sustainability journeys, they often face barriers and challenges when trying to move forward. When talking with customers he sees familiar issues arise, such as lack of resources, difficulty with scattered data and paper trails, and one person teams lacking the capacity to undertake in-depth sustainability reporting. Hari explained that this is where technology like Zuno Carbon can step in – to centralize data, ensure accurate and transparent reporting, and help you take steps to decarbonize.

Hari also answered questions from the audience about the introduction of Scope 3 reporting. He explained how we are beginning to see the trickle-down effect of MNCs offering support to SMEs to undertake their reporting. While this should help address some of the pain points SMEs face, it is still important that SME’s establish their own sustainability strategy and embed these initiatives across the company.

One of the most significant messages that attendees could take from the event was the importance of taking your first step in ESG reporting, no matter how small. This was a valuable and encouraging point for SMEs who may be finding it difficult to navigate the ever evolving reporting landscape.

The evening ended with a networking session, where attendees had the chance to speak with our panelists and with other industry peers. It was great to see such a high level of engagement and interesting discussions among all the attendees.

The event was also covered by The Business Times, who highlighted the challenges SMEs face in their sustainability journey, the growing importance of ESG reporting for SMEs, and the need to adopt ESG practices to stay competitive. Our client, Envcares, was also featured within the article. Their Director of Sustainability emphasised the need for companies to have a comprehensive understanding of ESG reporting and what it entails.

If you would like to read more, you can do so in the article link above.

If you didn’t manage to make it to this event, keep an eye on our LinkedIn page for future sustainability events from Zuno Carbon!