Which sectors are most affected by ESG reporting?
Everyone will be affected in one way or another, but in different ways. It’s very dependent on an organisation's country, their products, their product categories their brand and local laws.
It also depends on their point of focus. Are they focusing on net zero, greenhouse gases, employment rights or human slavery? Companies need to build their own sustainability profile and work out their priorities as it's impossible to do all of it at once.
Retailers and distributors will be at the sharp end of providing consumer information, whilst CPGs and manufacturers will carry the responsibility for the collection and calculation of all data related to their products, supply chains and processes.
At last count, there were over 600 different ESG standards available to different industries. And they break down into something between 4,000 to 5,000 unique assessments that need to be created and criteria that need to be met – some with greater (regulatory) urgency than others.
So, it will affect everybody. But there's no way we can say that it will affect everybody in the same way.