PwC has outlined how companies should implement the necessary internal controls and governance over their sustainability-related information.
To assess the current state of play, it recommends:
- Analysing what risks and controls currently exist
- Performing walkthroughs and identifying key control gaps
- Leveraging learnings to refine objectives and determine a risk and control matrix
To determine the desired state of play, it recommends:
- Thinking about whether to align financial and sustainability reporting timelines
- Determining the optimal controls and overarching governance
- Upskilling department leaders
- Leveraging the synergies between financial and sustainability data
- Establishing a strong ethical culture for sustainability reporting
To create a roadmap to achieve these ambitions, it recommends:
- Assessing what gaps exist between the business’s current and desired state, and what actions are needed to get there
- Establishing milestones and initiatives to be integrated into the sustainability reporting plan (considering regulatory requirements and assurance)
Companies:PwC
