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Workiva study finds companies feel underprepared to navigate ESG reporting

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Workiva Inc. has released results of a new global survey that examined 1,300 organizations’ current processes, collaboration and confidence in their environmental, social and governance reporting. Nearly two-thirds of senior decision-makers reported feeling underprepared to meet their ESG goals and regulatory reporting mandates. “ESG reporting requirements are constantly evolving and businesses are faced with increasing complexity and risk when consolidating disparate financial and non-financial data to cohesively report on their ESG performance to stakeholders,” Workiva President and COO Julie Iskow said in a news release. For most companies surveyed, formal ESG reporting is a newer initiative and is being led by a variety of departments within organizations, signaling a need for cross collaboration. The survey also identifies a need to simplify ESG reporting through technology as a majority think it is important but half of respondents don’t feel their organizations have the systems necessary to deliver data for ESG reports. The full survey results are available at this link.