Industry Veterans Form New Business ESG Consulting Firm

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by | Jan 19, 2024

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A new ESG consulting and advisory firm, Canopy Edge, has been officially launched to provide companies with strategies for science-based targets, ESG reporting, market messaging advisory services, and more.

The new firm plans to target small- and medium-sized businesses and will offer solutions in three main categories: corporate sustainability, sustainability intelligence, and sustainability messaging. In terms of corporate sustainability, the firm will offer advice for Scope 1, 2, and 3 emissions footprinting, sustainability target setting, abatement planning, supplier engagement, and climate risk. Sustainability intelligence includes services such as regulatory compliance and disclosures, while messaging offerings include marketing strategy, ESG reports, and digital media content.

The company was founded by Daniel Cardamone, Jonathan Keller, and Clint Wheelock, all of whom have reportedly been advising net-zero implementors since 2009. The group said they have also assisted organizations in over 80 countries and facilitated the transition of over 500 companies toward their net-zero goals.

“Effective strategies should incorporate economic, environmental, and social factors into an organization’s policies, practices, and processes,” said Cardamone. “If executed properly, the net results should include progress toward net-zero emissions reduction by 2050, employee engagement, and improving profitability, among other positive outcomes.”

Many Face Difficulties Amidst Increasing ESG Regulations

The new consultancy firm may help address some of the issues companies have faced as more ESG reporting requirements come into play and investors admit to general distrust of many companies’ sustainability claims.

A KPMG study released last year found that only 25% of companies admit to having ESG policies, skills, and systems in place for independent ESG data assurance. As some sustainability reporting standards will soon go from optional to required, many companies may benefit from guidance on how to adopt new reporting practices. Also notable from the KPMG report is the finding that larger companies cite better preparedness for ESG assurance, while small- to medium-sized companies felt considerably less prepared.

Additional findings from Kyndryl and Microsoft indicate that many companies have yet to incorporate sustainability into their strategies. Canopy Edge said it aims to help companies create a strategic action plan to improve their impact on the community and the environment, including collaboration with industry competitors.

“With regulatory and stakeholder pressure mounting, an increasing number of organizations are faced with the challenges of assessing their entire supply chain emissions impact and identifying where to focus abatement activities,” said Wheelock. “A best practice for tracking supplier engagement is collaborating with competitors, as shared value chains are common in most sectors. Companies will achieve considerable progress if they can define a win-win relationship with their competitors and suppliers, provide methodologies and support, certify data quality, and highlight benefits to the bottom line.”

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