PR92791

NEW YORK, Nov. 3, 2021 /PRNewswire=KYODO JBN/ --

EDM Council, a cross-industry trade association for data management and

analytics, has released its first research report providing first-hand insights

and recommendations for implementing best practices related to environmental,

social and governance (ESG) data management for corporate reporting entities.

The report takes a close look at:

    -- Data management challenges firms face with reporting and disclosure

       of ESG data

    -- Who's responsible and accountable for ESG reporting

    -- Data management plans and strategies to support ESG reporting

    -- ESG data quality related to direct and indirect data sources

    -- Data management capabilities related to internal and external audit

       and assurance

ESG reporting is still in the early stages as standards and regulations develop

and evolve. ESG reporting provides important information about a company's

performance, risks, and overall strategy, and the resulting data is used by

multiple stakeholders across the ESG Ecosystem, including investors, asset

owners, regulators, customers, suppliers, and employees. The focus on ESG,

including carbon emissions, biodiversity, water consumption, employee health

and safety, gender diversity, wage equality, child labor, and culture and

ethics, creates a unique set of challenges due to the complexities associated

with the underlying data, and the management of this data.

This paper was developed by the EDM Council's ESG Workgroup, which was formed

in 2020 to investigate current data challenges across the ESG Ecosystem. The

Workgroup approached the exercise by looking at the problem through the lens of

a data professional in each constituent group –Corporate Reporting Entity, Data

Aggregator/Research/Rating firm, Investment/Product Creation firm, and Asset

Owner.

"Everyone is trying to understand how to incorporate ESG principles into their

organizations' strategies and use ESG data throughout the ESG Ecosystem. Data

is the glue that connects everything. As a result, ESG data and data management

are critical to all constituents and it's still in the early stages of

development," said Eric Bigelsen, EDM Council Head of Industry Engagement and

Head of the ESG Workgroup. "This paper examines considerations such as data

reporting preparations, where data responsibility lies, and specific advice

from our ESG Workgroup on key steps to enhance ESG best practices within any

organization."

This EDM Council ESG Corporate Reporting Entities paper is the first part in a

series of papers that will contain the results of a nine-month study detailing

ESG data challenges and recommendations. The report incorporates input from

data professionals across multiple industries, corporate sustainability

reporting professionals, ESG subject matter experts, and other business leaders

in an effort that spans over 80 participating organizations and over 150

professionals.

For more information and to download the full EDM Council ESG Corporate

Reporting Entities report, please visit:

https://app.smartsheet.com/b/form/45e8fb7e57844ff5bb39098733818e70

About EDM Council

EDM Council is the global association created to elevate the practice of data

management and analytics as a business and operational priority. The Council is

the leading global advocate for the development and implementation of data

standards, best practices, and comprehensive training and certification

programs. With more than 250 member organizations globally from the Americas,

EMEA, and Asia, and more than 10,000 data management professionals as members,

EDM Council provides a venue for data professionals to interact, communicate,

and collaborate on the challenges and advances in data management and analytics

as critical organizational functions. For more, visit edmcouncil.org (

https://c212.net/c/link/?t=0&l=en&o=3343573-1&h=4225787337&u=https%3A%2F%2Fedmcouncil.org%2F&a=edmcouncil.org

) and follow us on LinkedIn (

https://c212.net/c/link/?t=0&l=en&o=3343573-1&h=2400819467&u=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2F11052555%2Fadmin%2F&a=LinkedIn

) and Twitter (

https://c212.net/c/link/?t=0&l=en&o=3343573-1&h=2469234978&u=https%3A%2F%2Ftwitter.com%2Fedmcouncil&a=Twitter

).  

SOURCE  EDM Council

CONTACT: Paragon PR, For EDM Council, P.J. Kinsella, +1 973-255-7153,

pj@paragonpr.com