BELA Working Group:
Understanding ESG & the Role of Ethics & Compliance
Defining the role of ethics & compliance in ESG goal setting, measurement, and reporting, building a relationship with IR, understanding the frameworks that drive goal setting, and gaining additional knowledge about the impact on and input from stakeholders.
During 2020, the time the ESG working group has spent together has been focused on getting to know how each company was organizing around ESG efforts. Key conversations centered around the use of cross-functional teams to develop ESG strategy, the pressure of disclosure and transparency, the role of the Compliance Officer, and the current landscape of reporting frameworks against a backdrop of the lack of regulatory or other U.S. or global standards.
In Ethisphere Magazine's issue on Reimagining Capital, three articles on ESG feature insights from this working group. Marvell’s Roxane Marenberg and Western Union’s Nancy Reynolds share their experience with ESG from a compliance officers perspective, Newmont’s Carrie Christopher describes how she and Newmont navigate the forest of rating agencies, requirements, standards, and practices, and Ethisphere's Emily Rickaby summarizes the working group's thoughts on who should sit at the ESG table.
Read a summary of the group's discussions on stakeholder engagement. A complete report on all of these outputs, Ethics & Compliance Leadership in Driving an Environmental, Social, and Governance (ESG) Strategy, can be found on the BELA Member Hub.
Every two weeks
Members share the infrastructure of the ESG function in their organizations, discuss the various internal and external frameworks that influence ESG, and consider guidance that could assist the ethics and compliance professional in their work with ESG activities.