The Energy Workforce ESG Certification Program’s cohort met last week to discuss reporting standards, key stakeholders in the ESG landscape, materiality and ESG messaging. These topics build on discussions from the program’s curriculum, which most recently addressed reporting frameworks and processes.
An area of discussion is the possibility of reporting standards proposed by entities like the Securities and Exchange Commission and how new standards would impact the energy services sector.
“I think the reality is that some companies have more resources and funds to undertake ESG reporting than others, so when you have a set of standards, that’s going to be a bigger challenge for some companies, and that could impact operations as well.”Program Participant
As the ESG reporting standards landscape continues to evolve and shift, program participants increasingly discuss the concept of materiality and how it applies to their companies. Understanding what is material to the sector and each company is critical when building reports that best reflect ESG achievements and progress.
“Within the public investor groups, there seems to be a bit of bifurcation: a lot of active investors aren’t as focused on ESG reporting in meetings because it’s partially the norm, but passive investors rely heavily on rating agencies to guide how they vote.”Program Participant
For more information about the ESG Certification program, contact Vice President Programs & Events Peggy Helfert.
Maria Suarez-Simmons, Director Government Affairs, writes about industry-specific policies for the Energy Workforce & Technology Council. Click here to subscribe to the Energy Workforce newsletter, which highlights sector-specific issues, best practices, activities and more.