Having a set of sustainability standards will facilitate corporates' relations with their investors and focus discussion on qualitative aspects rather than data issues, according to TotalEnergies ESG reporting manager, Florence Renouard de Maistre.
Renouard de Maistre spoke on a panel moderated by Corporate Disclosures at The Future of ESG Data 2022 conference, hosted by sister publication Environmental Finance.
After the panel she explained to Corporate Disclosures that an ESG team sits within the company's investor relation team and engages in a daily exchange with investors to answer their questions and understand their expectations in terms of reporting.
"Pending the adoption of a global sustainability reporting standard, it is also through this exchange with investors that we build our reporting," she said. Adding that this led the group to report under the TCFD framework since 2017 and the SASB oil and gas disclosures since 2020. In line with investor demand, the group also responds to the CDP questionnaires on climate, water and forests.
Other initiatives include a "Say on Climate" at its AGM in 2021 – which according to Renouard de Maistre was a first in France – to allow shareholders express their opinion on its sustainable development roadmap and progress.
TotalEnergies also organized its first ESG investor day on the theme of 'Strategy, Sustainability & Climate' in March 2022 to present its new Sustainability & Climate Progress Report which highlights how its ambition "to become a major player in the energy transition, engaged towards getting to net-zero by 2050" is reflected in its strategy and investment decisions along with progress made to date.
Now, the European and international sustainability standards that are being developed and finalized will give investors the information they need, the ability to compare data across corporates and will help in their decisions making, Renouard de Maistre said.
"Still we will continue to exchange on a daily basis because really most of our exchanges are around our core strategy and how we implement it, so this really goes beyond KPIs and indicators, so there will always be a need for discussions," she added: "Yet reporting under the standards will facilitate the discussion, and it may mean that the conversations will be more qualitative and less focused on the missing data."
