ESG in focus: more important than ever
Our ESG Survey 2024, conducted in collaboration with the Controller Institute, shows that ESG is no longer seen as a purely regulatory issue. It has become a decisive factor that determines the strategic direction of many companies. Environmental aspects are particularly important for most of the companies surveyed. This is mainly due to increasing social pressure and more comprehensive regulations that are forcing companies to improve their environmental performance.
But ESG is about much more than just environmental awareness. Social aspects such as employee prosperity, diversity and a focus on the common good are also becoming increasingly important. Equally important are aspects of corporate governance that ensure internal processes are fair, transparent and efficient.
The survey highlights regulatory requirements in practice, the organisational integration of ESG in companies, and the human and technical resources needed to successfully implement ESG.
Opportunities: more transparency and better risk management
Many companies see ESG as an opportunity not only to make a contribution to society but also to create added value for themselves. The focus on sustainability and social responsibility offers numerous possibilities, including in the areas of transparency and risk management. Transparency creates trust among investors, customers and employees – a clear competitive advantage in a world where credibility is becoming increasingly important.
Another advantage is that ESG helps to identify and minimise risks at an early stage. Whether it's the risk of environmental penalties, damage to a company's image due to social injustices or governance issues, strategically integrated ESG management helps companies avoid potential pitfalls and achieve stable long-term growth.
Challenges: legal requirements and shortage of skilled workers
Despite the many opportunities, implementing ESG remains challenging. Our survey shows that compliance with the extensive ESG regulations in particular is a major challenge for companies. Many respondents stated that the regulatory requirements take up a lot of time and resources, which poses particular problems for smaller companies.
In addition, there is a lack of specialised ESG expertise. Specialists with the necessary knowledge are difficult to find, which is why many companies are still hesitant to fully integrate ESG initiatives into their strategic planning. The survey results clearly show that interim solutions and collaboration with specialised consultants can be particularly helpful here.
Discover the full survey results
ESG is not only an obligation, but above all an opportunity – an opportunity to future-proof your company and at the same time make a positive contribution to society.
If you would like to learn more about the views of managers with ESG responsibility, top management and, in particular, CFOs on the implementation of ESG in companies, you can find the full survey results in the following link:
