boARD
Understand the related risks and data that will need to be disclosed.
Collaborate with management to comply with mandated disclosure of board oversight of climate-related risks.
Set the tone for the organization’s compliance journey.
Board
Internal Audit
Tax
Legal & Compliance
cfo/cao
cEO
Chief Risk Officer
Investor Relations
Supply Chain Leader
ciO
Chief Sustainability Officer
Assess whether board has/needs sustainability
and ESG subject matter expertise.
Oversee management’s plans and processes
for risk identification, assessment, and reporting.
Determine the level of ESG data assurance
needed and approve assurance provider.
Ensure the consistency and accuracy of all company disclosures.
Learn and educate key stakeholders about the ESG reporting requirements that apply to the organization.
Identify the certifications and tools staff
may need.
Identify relevant ESG controls,
processes, and systems, and include
them in audit planning.
Test internal controls, systems updates, and process compliance, and brief leadership on findings and recommendations.
Read more about the role of internal controls in ESG compliance.
Internal Audit
Help the organization operate with
tax transparency.
Provide data on tax credit utilization for associated disclosure and educate management on the tax benefits associated with sustainability investments.
Collaborate with relevant internal teams to assess total tax liability related to climate risks and emissions.
Determine required and voluntary tax disclosures, and lead information
gathering process.
Set benchmarks and goals for future tax disclosures, in alignment with the organization’s ESG standards.
Ensure that the organization’s tax policy/strategy aligns with its overall sustainability strategy.
Contact BDO’s ESG tax leaders to determine how the tax function can help your sustainability strategies create value.
Tax
Develop compliance programs for
SEC climate reporting and other
reporting requirements.
Assess how FCPA and ESG intersect
and address it in compliance programs
as necessary.
Review and provide guidance on new disclosures and reporting.
Respond to regulatory and legal inquiries.
Review compensation agreements
for ESG components and assess
disclosure requirements.
Update whistleblower response and internal investigations.
Legal & Compliance
Relay stakeholder expectations
and feedback on sustainability
and ESG reporting to all relevant
internal stakeholders.
Provide timelines and processes to
procure required ESG data for events outside SEC reporting.
Ensure ESG data is shared within corporate guidelines and monitor for disclosure of material nonpublic information outside established communication streams.
Investor Relations
Coordinate information-sharing between organization and contributors to its Scope 1 and 2 emissions.
Work with management to articulate the
role of climate risk in the organization’s supply chain.
Consider best methods to procure required data from vendors.
Address vendor issues or failure to provide required data.
Determine ESG considerations in
vendor selection and when monitoring vendor compliance.
Supply Chain Leader
Ensure creation of new datasets, intake of new data, and new technology to support ESG reporting, in line with the organization’s policies and cybersecurity framework.
Support operationalization of ESG reporting through automation and technology.
Advise on governance structures and controls over ESG data.
CIO
Serve as expert on sustainability and ESG regulations and standards, and the organization’s sustainability vision, strategy and programs.
Supervise sustainability and ESG team directly or jointly with CFO/CAO.
Facilitate ESG data sharing across
the organization.
Monitor for new and emerging ESG risks that threaten the organization’s sustainability plan.
Align current voluntary reporting with mandatory reporting.
Develop plan for “excess” information in coordination with CFO, CEO, board, and Legal.
Chief Sustainability Officer
Communicate to relevant internal stakeholders when shifts in enterprise risk may impact ESG data collection or disclosure.
Ensure ERM framework reflects material
ESG risks.
Establish quantitative metrics for measuring ESG risks, costs, and opportunities.
Ensure that ESG reporting controls align with key organizational risks.
Assess whether residual risk is tolerable to the organization.
Chief Risk Officer
Gain a deep understanding of the regulation and broader ESG
regulatory environment.
Supervise and check in frequently with sustainability and ESG team and ensure smooth operations.
Oversee preparation of SEC filing draft with placeholders for new ESG data.
Ensure processes, procedures and controls
are designed and implemented around ESG reporting and disclosure processes.
Identify and vet assurance providers.
42% of CFOs say their involvement in strategic conversations about sustainability will increase over the coming year. Read BDO’s 2024 CFO Outlook Survey
to learn more about CFOs’ approach
to sustainability.
CFO/CAO
Communicate corporate sustainability vision to organization and external stakeholders.
Understand the regulation and broader impact of the rulemaking on the business, industry, and economy.
Ensure sustainability and ESG reporting team has adequate resources.
Schedule regular progress updates.
Inform sustainability and ESG reporting team of material business changes such as mergers and acquisitions.
CEO
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Board
Understand the related risks and data that will
be disclosed.
Set the tone for the organization’s
compliance journey.
Assess whether board has/needs ESG subject matter expertise.
Oversee management’s plans and processes for risk identification, assessment, and reporting.
Determine the level of assurance needed and approve assurance provider.
Ensure the consistency and accuracy of all company disclosures.
Board
Understand the related risks and data that will
be disclosed.
Set the tone for the organization’s
compliance journey.
Assess whether board has/needs ESG subject matter expertise.
Oversee management’s plans and processes for risk identification, assessment, and reporting.
Determine the level of assurance needed and approve assurance provider.
Ensure the consistency and accuracy of all company disclosures.
Board
Understand the related risks and data that will
be disclosed.
Set the tone for the organization’s
compliance journey.
Assess whether board has/needs ESG subject matter expertise.
Oversee management’s plans and processes for risk identification, assessment, and reporting.
Determine the level of assurance needed and approve assurance provider.
Ensure the consistency and accuracy of all company disclosures.
Board
Understand the related risks and data that will
be disclosed.
Set the tone for the organization’s
compliance journey.
Assess whether board has/needs ESG subject matter expertise.
Oversee management’s plans and processes for risk identification, assessment, and reporting.
Determine the level of assurance needed and approve assurance provider.
Ensure the consistency and accuracy of all company disclosures.
Board
Understand the related risks and data that will
be disclosed.
Set the tone for the organization’s
compliance journey.
Assess whether board has/needs ESG subject matter expertise.
Oversee management’s plans and processes for risk identification, assessment, and reporting.
Determine the level of assurance needed and approve assurance provider.
Ensure the consistency and accuracy of all company disclosures.
Board
Understand the related risks and data that will
be disclosed.
Set the tone for the organization’s
compliance journey.
Assess whether board has/needs ESG subject matter expertise.
Oversee management’s plans and processes for risk identification, assessment, and reporting.
Determine the level of assurance needed and approve assurance provider.
Ensure the consistency and accuracy of all company disclosures.
Board
Understand the related risks and data that will
be disclosed.
Set the tone for the organization’s
compliance journey.
Assess whether board has/needs ESG subject matter expertise.
Oversee management’s plans and processes for risk identification, assessment, and reporting.
Determine the level of assurance needed and approve assurance provider.
Ensure the consistency and accuracy of all company disclosures.
Board
Understand the related risks and data that will
be disclosed.
Set the tone for the organization’s
compliance journey.
Assess whether board has/needs ESG subject matter expertise.
Oversee management’s plans and processes for risk identification, assessment, and reporting.
Determine the level of assurance needed and approve assurance provider.
Ensure the consistency and accuracy of all company disclosures.
Board
Understand the related risks and data that will
be disclosed.
Set the tone for the organization’s
compliance journey.
Assess whether board has/needs ESG subject matter expertise.
Oversee management’s plans and processes for risk identification, assessment, and reporting.
Determine the level of assurance needed and approve assurance provider.
Ensure the consistency and accuracy of all company disclosures.
Board
Understand the related risks and data that will
be disclosed.
Set the tone for the organization’s
compliance journey.
Assess whether board has/needs ESG subject matter expertise.
Oversee management’s plans and processes for risk identification, assessment, and reporting.
Determine the level of assurance needed and approve assurance provider.
Ensure the consistency and accuracy of all company disclosures.