The speed of movement surrounding ESG changes is continually increasing and can't be ignored any longer. In today's episode, host Anne-Marie Henson, Partner, Eastern Canada & SMB Leader at BDO, is joined by Mary Mathews, Partner in BDO's Accounting Advisory Group, to discuss the rapid pace at which ESG standards are being implemented and the impact that it can have on companies. They then turn to the 2022 Accounting for the Future conversation between Anne-Marie, Armand Capisciolto, and Pierre Taillefer, BDO Canada's Sustainability Leader, who discuss all facets of the ESG journey, particularly the "G," what companies are already getting right, and how they can advance their progress in the ESG journey.

What you'll hear in this episode:

[1:20] Why it is essential to talk about ESG (again).

[3:35] Changes that need to be made to today's governance to reflect new ESG standards.

[9:11] Defining the governance and reporting elements of ESG.

[13:10] Most organizations have already started implementing some ESG policies.

[15:49] Possibilities of mandatory sustainability reporting.

[20:17] Integrating ESG factors into operational decisions.

[21:34] Considerations addressing governance and reporting quality data.

[27:37] Advice to boards when implementing ESG policies.

[32:31] Pierre's advice for getting started with ESG engagement.

Mentioned:

Anne-Marie Henson

Mary Mathews

Armand Capisciolto

Pierre Taillefer

BDO

Quotes:

"We're not going to stop hearing about ESG,… it's moving faster than I have ever seen previously."

"As companies are starting or part way through their ESG journey, it gives everyone a chance to reset and to create processes from the ground up that are really intentional and focus on the right information to produce sustainability-related information for investors."

"Take away the regulatory requirements, and ESG is reviewing how you operate as an organization and implementing ESG factors to be better off as an entity."

"When we talk to clients about ESG, the starting point is to talk about what they already do."

"You can't think of these things in isolation. You have to be thinking about sustainability, reporting, and financial reporting as a package."

"Start with small pieces, but have a full picture of where you eventually want to go."