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Integrate ESG reporting and accounting to align unlisted businesses, say corporate figures at Davos

Joan Ng

Joan Ng

Published Wed, Jan 18, 2023 · 08:22 PM
    • Business leaders should be ready to report both financial and sustainability data, says Erkki Liikanen (second from left), chair of IFRS Foundation.
    • Business leaders should be ready to report both financial and sustainability data, says Erkki Liikanen (second from left), chair of IFRS Foundation. PHOTO: WORLD ECONOMIC FORUM/JAKOB POLACSEK

    [DAVOS] GETTING all companies, large and small, to meet new environmental, social and corporate governance (ESG) expectations will require the adoption of standardised reporting standards that are fully integrated into audited accounts, said corporate figures at the World Economic Forum (WEF).

    Private equity (PE) money, meanwhile, will play an important role in pushing for adoptions of standards outside the public markets.

    Most listed companies around the world are already reporting some non-financial data. What is reported varies by jurisdiction still, as various players debate the best way forward for ESG standards.

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