Companies are more focused on environmental, social, and governance (ESG) reporting than ever as new requirements continue to come into the fold. In response to this demand, TMF Group launched a new ESG administration services offering.
Across industries, ESG reporting is increasingly important, providing investors, regulators, and consumers with transparency of the climate change impact of companies. One recent study from KPMG revealed only 25% of companies believe they’re ready to meet regulatory deadlines in the future.
Globally, more requirements are also being considered. In July, the International Sustainability Standards Board (ISSB) issued its first-ever standards related to sustainability disclosures by companies with the aim of creating a common language to disclose the effect of climate-related risks and opportunities on a company’s prospects.
TMF Group, a compliance and administrative services provider, is now offering expertise in this area, with the knowledge and tools to efficiently gather, organize, and validate ESG data according to current regulations.
“There are many firms that offer consulting and advisory services related to ESG; our administration offering will enhance our clients’ ability to comply with complex ESG reporting requirements without needing a dedicated in-house function,” Daniel Max, TMF Group’s head of global solutions, said in a statement. “This offering sits among the other compliance and administration services that we offer our clients, and combines on-the-ground staff with comprehensive reporting tools to provide high-quality ESG reports that can be used for multiple purposes including audits, investor management, and customer queries.”
The new offering targets companies and fund managers to help them define, set up, and maintain accurate ESG reports. Beyond meeting reporting requirements, ESG reporting also has other benefits, including enhancing reputation among stakeholders and investors, mitigating risk, as well as potentially providing more access to capital from socially conscious investors and financial institutions.
Plus, with the rising importance of ESG reporting, showcasing sustainability efforts can also provide a competitive advantage for companies.
“It is crucial to be able to meet the growing demand for ESG reporting from investors, clients, and regulators,” Pierre Lechat, TMF Group’s head of ESG solutions, said in a statement. “This new service, combined with our commitment to best practice, will ensure our clients keep up with all ESG reporting requirements."
