Benchmarking and ESG Reporting Deadlines Approach

Environmental, Social, and Corporate Governance (ESG) criteria are an essential requirement for every business in 2021 as world deals with a different kind of pandemic. The CO2 emission kind. Which is why focusing on ESG reporting can be an important business decision.

We read daily of how the ozone layer is constantly depleting due to carbon emissions. According to a statistic, without changes, we might generate 43.08 billion tons in 2050.

Over time, employers have faced intense scrutiny to reveal their business’ ESG reports. This mounting pressure is traced to environmental/social activists, stakeholders, and employees.

A study showed that 64% of millennials will not work for any non-ESG-compliant company. Consumers are also concerned about how the activities of businesses impact the emission of greenhouse gases.

It is not surprising to see investors looking for the same thing before investing a portion of their finances. According to a report, 85% of investors in the US are buying into ‘sustainable investing.’

Thus, ESG should not be viewed as a risk-management protocol. It is an all-around holistic measure to be implemented by your business. 

As an employer of labor, you must show that your business is socially responsible. This is a significant ingredient that will foster consumer loyalty, business longevity, and reputation.

For the manufacturing industry, it is difficult to ignore that ESG compliance is essential. There are risks involved in constant pollution, unsafe work practices, child labor, and even the inability to identify conflict natural resources. With constant media attention, it has become necessary to put an ESG framework in place.

No business wants to be at the receiving end of lawsuits bordering on harassment, discrimination, and pollution. To remain compliant, you must ensure that your business submits ESG and local energy benchmark reports.

The deadlines are fast approaching:

ESG Framework

The deadlines for ESG reporting and framework are as follows:

S&P’s Dow Jones Sustainability Index (DJSI)Submit at the DJSI online portalJune 3, 2021
Global Real Estate Sustainability Benchmark (GRESB)Submit at the GRESB online portal.July 1, 2021
The Carbon Disclosure Project (CDP)Submit at the CDP online portalJuly 28, 2021
Sustainable Accounting Standards BoardInclude in 10-K, Annual ReportPlease include it in your annual financial disclosure
Task Force for Climate-Related Disclosure (TCFD)Include in the 10-K annual reportPlease include it in your yearly financial disclosure
The United Nations Principles for Responsible Investment (UNPRI)Submit at the UNPRI online portalApril 29, 2021

Local Energy Benchmarking

The following are the due dates for the local energy benchmarking for various states:

District of ColumbiaEnergy Star Portfolio ManagerBenchmark Compliance Instructions Benchmark Compliance InstructionsPlease include it in your annual financial disclosure
BostonEnergy Star Portfolio ManagerBenchmark Compliance InstructionsApril 29, 2021
New YorkEnergy Star Portfolio ManagerBenchmark Compliance InstructionsPlease include it in your yearly financial disclosure
ChicagoEnergy Star Portfolio ManagerBenchmark Compliance Instructions Benchmark Compliance InstructionsJune 3, 2021
Los AngelesEnergy Star Portfolio ManagerBenchmark Compliance InstructionsJuly 1, 2021
SeattleEnergy Star Portfolio ManagerBenchmark Compliance InstructionsJuly 28, 2021

With these deadlines approaching, how do you ensure compliance and save your business from mounting fees due to non-compliance? What is the easy way out here?

It’s simple.

Edenark Group ISO 14001

Our partner, Edenark Group is running a sustainability program to help small and big businesses in the US boost profit while improving their performance. Edenark Group is an SEC-approved organization that runs and procures a sustainability program called the Edenark Group ISO 14001.

With this certification in place, your business will remain ESG-compliant while attracting and retaining top talents as staff, juicy investments, and loyal consumers. This certification is proudly supported by the World Bank, ISO, SEC, FINRA, and the United Nations.

Other benefits of this certification include:

  • Remain carbon neutral
  • Positive brand image
  • Maximized profits
  • Competitive advantage over other business
  • It puts your business in a framework of over 300K organizations

Reach out to us to further discuss ESG reporting and benchmarking. You can also reach out to us to discuss how we can help you reduce your expenses while boosting your profits.

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Marc Freedman

Marc Freedman

To help you achieve your company's financial growth goals, Marc serves as our Chief Cost Advisor, providing advice to client management teams. He is highly regarded as an expert in his field, and he frequently collaborates with and contributes to other spend consultants to develop and implement cutting-edge strategies for their respective clients.

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