Data, Disclosures and the New Dawn of Leadership
The article penned by Tanya Seajay, Founder and Managing Partner of 7 Centre for ESG Today, delves into the evolving role of CEOs in 2023. It underscores the necessity for CEOs to adapt to a new reality where they rely on external entities, particularly when dealing with sustainability risks and opportunities. The piece also highlights the significance of data in this context and the challenges it presents.
Key insights from the article include:
CEOs will no longer be able to operate their companies in isolation, necessitating trust in external entities, especially in the sustainability sphere.
The complexity of sustainability-related information and reliance on external data sources often leads to a loss of confidence among CEOs.
Hesitation in handling complex sustainability data can result in delays, impacting the effective management and capitalization of sustainability risks and opportunities.
The introduction of the IFRS Sustainability Disclosure Standards by the international Sustainability Standards Board (ISSB) requires companies to disclose their vulnerabilities and dependencies, particularly concerning their reliance on global resources and key business relationships.
The accuracy and reliability of data providers become crucial factors influencing a CEO’s confidence in decision-making.
Both good and bad data will play a role in the world's ability to achieve its sustainability goals.
The article underscores the importance of trust in accelerating progress towards sustainability goals. It suggests that fostering trust, particularly in data providers, can expedite our commitments and lead us towards a more sustainable future.
