EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
How EY can Help
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Through enhanced corporate reporting, EY can support finance teams to meet demands for high-quality enhanced financial and nonfinancial information.
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Supporting organizations with physical and transition risks associated with climate change, and assisting them with market and regulatory changes.
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For many CFOs and finance leaders, an enhanced model of reporting — encompassing both financial and ESG disclosures — is the standard. The research found that 89% of CFOs and finance leaders surveyed say they provide ESG disclosures or plan to do so, with 40% of respondents stating disclosures were part of a mandated regime and 49% of respondents saying they provide disclosures on a voluntary basis. Only 11% say, “we provide no external ESG reporting and have no plans to do so.”
However, while financial and ESG reporting can be seen as mainstream, few CFOs and finance leaders have complete confidence in the ability of their team to provide the required data. For example, when accessing meaningful data to support mandatory or voluntary ESG disclosures, only 26% of respondents say they “have access to all information required in a systematic, controlled reporting environment.” At the same time, a minority feel their finance functions have the robust capability to meet reporting expectations, including skills, systems and data, and controls.