Planet under Pressure

as well as questions of good corporate
governance. Experts use the expression
of so-called ESG (environmental, social
and governance) criteria.
In a globalized world with highly complex
levels of production, compliance
with these ESG criteria is becoming increasingly
challenging and, at the same
time, more critical for each company:
The more that production steps and processes
are relocated to the supply chains,
the more that risks are outsourced. Digitalization
and political uncertainties
aggravate this development.
for such reports is increasing both in
terms of quality and scope: In a recent
statement, European Commission Executive
Vice-President Valdis Dombrovskis
provided details on the implementation
of the Green Deal Investment Plan –
including strengthening sustainability
reporting by companies. He set out
that the EU’s Non-Financial Reporting
Directive is to be reviewed, and the EU
will establish “clear reporting standards”
to “scale up sustainable finance at the
level that the world needs”. >>
Entities – including businesses, governments,
and nonprofits – therefore face a
rapidly evolving landscape of ESG-related
risks that can impact their profitability,
success, and even survival. Given the
unique impacts and dependencies of
ESG-related risks, sustainability expert
macondo publishing has launched a
public–private partnership initiative
to develop digital platforms that help
organizations better under- stand the full
spectrum of these risks and to manage
and disclose them effectively.
Drivers
To measure corporate sustainability and
make it transparent, companies prepare
appropriate reports. The legal obligation
Global Goals Yearbook 2020 119