ESG Governance

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Companies are realizing that good and robust governance drives environmental and social responsibility. As organizations continue to adapt to an ever-changing landscape, boards and management must prepare to address the new dynamics affecting their oversight roles and the governance of their organizations.

Boards have responsibilities to steer their organizations towards sustainability and ensure that the ESG information under their oversight is appropriate, reliable, and compliant.

While there are plenty of guidance and information, standards and regulations addressing specific areas of responsibility and reporting continue to evolve. Governance covers a wide variety of issues, including risk management and internal controls, data harvesting and data breaches, executive remuneration, board diversity and competences, as well as shareholder rights.

We understand that a focus on governance can underpin the success of the broader ESG strategy by ensuring that both the people and policies are fit for purpose. KPMG member firms offer a suite of services designed to review your governance structures, so that they are effective and efficient - to remove inadequacies and ensure your board and leadership have the required expertise.

How you run your company is the foundation of strong ESG, and without it your license to operate could be at risk. By reviewing your ESG policies and practices in relation to key financial and societal performance measures, we can help you ensure greater accountability, more effective decision-making, and stronger compliance throughout your entire organization.

Christian Møllegaard

Partner, Audit

KPMG in Denmark

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Staying updated on evolving ESG regulations is critical in today’s rapidly changing compliance landscape. New rules and frameworks, such as the CSRD, the EU Taxonomy and the CSDDD, are reshaping reporting requirements, and failure to stay ahead can lead to non-compliance, reputational risks, and financial penalties.

We can help your organization monitor ESG legislative developments, providing timely updates and insights into emerging regulations and best practices. Our support ensures you remain updated and compliant while adapting to new standards, empowering you to navigate the complexities of ESG.

With the introduction of CSRD, companies must now collect and report more ESG data than ever before and this places a greater emphasis on data quality. While the initial requirement is for limited assurance audits, this is expected to evolve into higher levels of assurance, increasing demands on data collection and validation processes. Like financial data, robust internal controls will become essential for ESG data to ensure accuracy and compliance.

We can help your organization enhance ESG processes and controls to ensure transparency and alignment with evolving standards. This includes clarifying reporting requirements, identifying necessary data, and recommending appropriate systems for data collection. We also assist in defining responsibilities for data management and establishing internal controls to ensure the reliability and quality of your ESG data.

An ESG strategy is a holistic enterprise approach designed to create long-term value for all stakeholders. By aligning with business objectives, it builds resilience and ensures success in a future shaped by social and environmental change. An effective ESG strategy considers emerging regulations, shifting stakeholder expectations, and the evolving demands of lenders, investors, insurers, and rating agencies.

Our approach begins with assessing the current state of your ESG maturity and identifying critical areas for action. This includes evaluating material ESG topics, baselining emissions and social metrics, assessing market positioning relative to peers, and quantifying asset vulnerability to various risks. These insights inform prioritization and provide a clear understanding of where your organization can have the greatest impact on long-term value creation.

From there, we guide you through the design and implementation of your ESG strategy, integrating future-state goals into your overall organizational strategy. This process involves setting measurable targets, conducting cost-benefit analyses, and agreeing on disclosure frameworks to adopt. We also help develop an actionable roadmap to embed ESG into your operating model.

Selecting the right ESG tools and software is a critical step in building a robust and reliable reporting framework. We assist in evaluating, selecting, and implementing ESG solutions tailored to your organization’s unique needs within Lifecycle Analysis (LCA), reporting, and GHG calculation and data collection/processing.

KPMG is technology and vendor agnostic and will guide you in navigating the complex landscape of more than 70 different platforms while leveraging our strategic alliances with Microsoft, ServiceNow, Salesforce, and Workiva to equip your organization with the right solution to address your ESG needs.

Our support extends beyond vendor selection - we help you assess system capabilities against your requirements, ensure integration with existing IT infrastructure, and provide guidance on implementation to maximize efficiency. Whether you are starting from scratch or upgrading existing systems, we collaborate with you to establish a scalable ESG solution that meets regulatory standards and stakeholder expectations.

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