ESG will remain a massive topic in 2022 and will be increasingly important for businesses, individuals, and legislators.
The top ESG challenges for business leaders in 2022:
- Disclosures become more standardized, more expected, and more mandated: Reporting requirements like TCFD are bringing ESG reporting to the board’s attention and, as a result, magnifying focus on it throughout the entire organization.
- How can technology support ESG? Automation, artificial intelligence, and technology are invaluable in enabling enterprises and organizations to gather and analyze robust, accurate ESG data across all the ESG-related measures and controls. Technology can also help potential investors to collect and assess increasing amounts of data on ESG threats and opportunities, enabling them to make more informed decisions. Organizations’ ESG strategies are under the microscope more than ever.
- Digital transformation remains the top strategic business priority for boards of directors. 64% of Board of Directors have attempted to alter their enterprise economic structure to a more digital economic architecture – meaning they are changing their capital allocation and governance approaches to accommodate digital investments.
- Optimizing technology for sustained remote and hybrid workforces. With the normalization of remote and hybrid workforces, technology leaders must prioritize cloud-native capabilities to align with their technology and business strategies. Secure operations enable seamless remote access to documents and data; however, many organizations don’t have a complete IT architectural framework in place yet.
- Attracting and retaining employee talent. A challenge intensified by the pandemic — has been among the top concerns of business leaders looking ahead to 2022. CFOs are facing the unusual widespread labor shortages and the highest inflation rate in three decades. Companies have budgeted wage increases for 2022 but increasing pay is just one way to attract and retain talent. Offering flexible or hybrid work arrangements, providing learning and development programs can also improve the ‘’employee experience’’.
- Implementing a layered approach to the cybersecurity and data protection plan. Remote and hybrid work environments amplify the risk and potential impact of cyberattacks. There is a concern of when an attack will happen due to the pace and scale at which bad actors operate. Today, cybersecurity at every endpoint, across all pillars and active vectors, is critical for end clients, vendors, and other third parties. The goal is to create a cybersecurity strategy that provides layers of protection and resilience. Investing in cybersecurity tools, processes, and people helps ensure full protection of an organization.
Stay tuned and benefit from your enrollment in the certification package program (both CSE’s leading programs): the Certified Sustainability ESG Practitioner Program & the GRI Certified Standards Training Course – Reporting with the NEW GRI Universal Standards.
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