Documenting Corporate Sustainability and ESG Governance for a Fortune 100 Company
ScottMadden frequently helps organizations define and improve their ESG strategies and commitments. Contact us to learn how we can help support your sustainability and corporate responsibility projects.
At a Glance
Current State
Provided a detailed assessment of ESG and evidence of existing controls
Gap Assessment
Highlighted gaps, overlapping responsibilities, and needless complexity that the company was able to address
ESG White Paper
Published the analysis in an ESG white paper presented to the head of corporate strategy, the executive committee, and the board of directors
Challenge
The board of directors of a Fortune 100 company wanted to better understand the governance and controls around its Environmental, Social, and Governance (ESG) commitments. This desire for increased standardization was driven by pending SEC rulemaking on ESG disclosures, increased demand for ESG data from investors and creditors, and the company’s own public commitments in areas such as decarbonization. ScottMadden was engaged to assist the company’s director of corporate sustainability with the task of “mapping” all ESG-related policies, programs, and processes within the company and to identify opportunities for improvement.
Process
- Worked with the corporate sustainability organization to define and document the current state of ESG governance
- Aligned effort to the set of high-priority ESG focus areas identified by the company’s annual materiality assessment
- Defined specific aspects of governance to be documented for each focus area, including board oversight, executive ownership, existing policies and programs, performance metrics, performance assurance processes, and current disclosures
- Built upon existing documentation by interviewing key stakeholders, defining important processes, identifying material focus areas, and developing strategies for reporting performance to both internal and external audiences
Result
- Published the analysis in an ESG white paper presented to the head of corporate strategy, the executive committee, and the board of directors
- Provided a detailed assessment of current state governance and evidence of existing controls
- Highlighted gaps, overlapping responsibilities, and needless complexity that the company was able to address
- Illustrated for the company that the priority focus areas were at different stages of governance maturity
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