Navigating reporting frameworks: Where companies in Asia should turn for purposeful disclosures
ESG reporting is here to stay and global companies are adopting it, but the diversity of ESG frameworks can make reporting relevant metrics confusing - and a little overwhelming. Here at The Purpose Business, Sustainability Advisors Rebecca Walker Chan and Diana Chen designed this infographic to help direct you - and get you started.
Our clients often ask us which ESG framework they should use. We always begin by asking why: why report, who is it for, what does it bring you? We then recommend that companies look at local reporting requirements as a starting point. Listed companies in Hong Kong are required to prepare disclosures according to the Hong Kong Stock Exchange’s ESG Guide. Similar reporting requirements exist for Singapore, the Philippines and Malaysia. We recommend starting small, focusing on what’s most ‘material’ to your company, and collecting quality data to meet mandatory requirements.
As your organisation’s understanding of sustainability matures, more resources can be dedicated to align with international frameworks such as GRI (Global Reporting Initiative) and TCFD (Task Force of Climate-related Financial Disclosure). Throughout this process, ESG reporting can become a strategic endeavour, destined to improve business performance rather than impede it.
This infographic is industry agnostic and doesn't include all existing ESG reporting frameworks - rather those that we see as the most relevant for Asia-based businesses.