Regulators are Taking a Tougher Stance on ESG Disclosure a New Study Reveals
Thursday, October 11, 2018
LONDON, October 11, 2018 /PRNewswire/ --
A new study by Datamaran - the leading solution for non-financial risk management -
reveals a tougher stance by regulators on ESG-related disclosure
Regulators are taking a tougher stance on ESG disclosure, a new report by Datamaran
[https://www.datamaran.com ] - the leading solution for non-financial risk management -
In the last three years alone Environmental, Social and Governance (ESG)-related
regulations - grew by more than 100 percent across the United Kingdom (UK), The United
States of America (US), and Canada, indicating that ESG regulatory landscape is evolving
fast. For some sectors, such as Utilities and Healthcare and Pharmaceuticals, the majority
of sector-specific regulations published after 2015 are mandatory. The sharp rise in ESG
regulations together with a tougher hand from policymakers send a strong signal to
business to - ESG issues require mainstream attention.
Datamaran CEO and Co-Founder Marjella Alma explains further: "Business needs to be
aware of emerging ESG regulation. The tougher stance taken by regulators means that
companies who are not integrating ESG issues into their strategy and their risk analysis
will have a harder time navigating the complex and evolving regulatory landscape. The
message is clear, non-financial issues are a 'must have, not a nice to have'".
Focusing on Healthcare and Pharmaceuticals, Utility and Financial Services sectors in
the US, UK and Canada, Datamaran's Global Insights Report 2018
[https://www.datamaran.com/global-insights-report ] analyzes international, regional and
national mandatory regulations and voluntary initiatives published between 2012 and 2018.
The report found that sector free regulations grew by 158% in the UK (from 31 to 80
regulations), by 145% in the US (from 29 to 71 regulations) and Canada (from 22 to 54
regulations). Social and Environmental topics are becoming more prominent in these recent
regulations. The most regulated topics are Energy Use in the US Utilities, Product and
Service Safety across all regions in Healthcare and Pharmaceuticals, and Business Ethics
in the Financial Services across all countries. There has also been growth in regulation
on Climate Change in the Financial Services Sector and Consumer Rights in the US Utilities
Commenting on the findings, Chairman of The Committee of Sponsoring Organizations of
the Treadway Commission (COSO) and Vice President and Chief Risk Officer at
Georgia-Pacific LLC, Paul Sobel said: "Business has to think beyond the one and two year
perspective to a much longer term as it evaluates the potential impacts of ESG risks.
These risks are mainstream and they have to be part of the overall risk assessment and
Echoing Sobel's perspective Executive Director, Corporate Responsibility at MSD Brenda
D. Colatrella said: "We, at MSD*, observe this trend too and acknowledge the role that
effective management of ESG issues can play in managing risks and serving as a key
differentiator in competitive markets. In fact, the number of inquiries from external
stakeholders related to ESG issues increased about five-fold at MSD in 2016, and we
anticipate that the uptick in inquiries about ESG issues will only continue."
Datamaran's Global Insights Report 2018 is available here
[https://www.datamaran.com/global-insights-report ] .
For an interview with Marjella Alma please contact Saskia Ligteringen at
email@example.com or on +44-2077029595
Datamaran [https://www.datamaran.com ] is the global leader in Software as a Service
(SaaS) solutions for non-financial risk management.
Datamaran enables a business process for continuous issues monitoring fully owned by
the sustainability and risk teams. It harnesses technology to support decision-makers with
an improved materiality analysis process - one that seamlessly integrates into Enterprise
Risk Management (ERM) and corporate strategy.
Datamaran's global clientele of blue-chip companies have replaced the dated and
expensive manual processes used for benchmarking, materiality and non-financial risk
analysis as well as issues monitoring.
The insights Datamaran users gather are used across multiple business teams
(governance, risk, compliance, sustainability) to identify and monitor risks and
opportunities and to inform corporate strategy.
If you would like to learn more about Datamaran please email firstname.lastname@example.org
or call on +44-2077029595
www.datamaran.com [http://www.datamaran.com ]
*MSD is a trade name of Merck & Co., Inc., Kenilworth, NJ, USA
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