How technology can advance ESG reporting in APAC
A new report from Deloitte explores how technology can be leveraged to improve the accuracy, robustness and completeness of ESG reporting.
“Asia Pacific is ushering in a new era of ESG reporting as mandates and expectations for high-quality ESG data that is accurate, comprehensive, verifiable and actionable is becoming the norm. Meeting these increasingly comprehensive and stringent disclosure requirements will be a challenge for companies in the region. However, companies that leverage technology are better positioned to navigate this evolving ESG landscape.
New and emerging technological solutions such as Artificial Intelligence, Internet of Things, Cloud Migration, Blockchain, Natural Language Processing and Machine Learning can enable companies to automate, streamline and improve the data collection, management and reporting processes. This can lead to greater efficiency, fewer errors, more dynamic reporting options and a consistent, timely flow of information.
This report provides an overview of the recent ESG reporting developments in Asia Pacific and how companies can harness the power of technology to ensure regulatory compliance and make data-driven decisions. It also provides practical steps on how companies can integrate technology into their business to transform their sustainability practice.”
View the full report here.
Pratiq Shah, Partner, Sustainability & Climate, Deloitte India said: “With the new Business Responsibility and Sustainability Report (BRSR) Core disclosures and assurance requirements for the top 1,000 listed entities in India by market capitalisation, regulators seek comparable rigour for ESG data as they do for financial information. Technology can be a key enabler for companies in meeting the necessary requirements and demands for quality ESG data.”
Jacquie Fegent-McGeachie, Partner, Sustainability & Climate, Deloitte Australia said: “The Australian government is committed to implementing standardised, internationally aligned reporting requirements based on the final standards issued by the ISSB. With mandatory climate-related financial reporting set
to commence under the Australian Sustainability Reporting Standards, organisations need to move from retrospective data sets in spreadsheets, to utilising digital solutions and technology to connect climate-related data with financial information to enable business decisions making. This is significant change to corporate reporting and collaboration across the organisations will be needed to enable compliance, and for organisations to capitalise on opportunities presented.”
Josette Soh, Sustainability & Climate Assurance Leader, Deloitte Southeast Asia said: “Singapore will implement mandatory climate reporting for listed companies starting in FY2025, followed by non-listed companies from FY2027. Technology is an important catalyst in facilitating and equipping all companies for this transition, enabling the establishment of a more efficient and precise data collation process that enhances the accountability and accuracy of climate reporting.”
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