Sustainability FAQs: Your top questions answered This blog post was authored by Steve Wang - Managing Director, U.S. ESG Engagement Leader and Sharon Lindstrom - Managing Director, Manufacturing and Distribution Industry Practice Leader on The Protiviti View.What: As regulatory and stakeholder expectations around sustainability continue to evolve on a near daily basis, Protiviti has created an online guide of frequently asked questions to help business leaders navigate this dynamic complexity.Why it matters: The FAQ Guide answers more than 80 commonly asked questions, from strategy and planning to data, governance and reporting.Next steps: The FAQ Guide is a living document that we will continue to update as the landscape changes and new questions arise. Bookmark this page and use it as a reference on your sustainability journey. Topics Risk Management and Regulatory Compliance ESG/Sustainability Research Guide March 11, 2024 Sustainability: Frequently Asked Questions The subject of sustainability continues to evolve and present challenges and opportunities for businesses. Protiviti has created a guide of frequently asked questions to provide helpful insight to help businesses navigate sustainability matters. Read more Why Sustainability Matters“Meeting the needs of the present without compromising the ability of future generations to meet their own needs.” In 1987, the United Nations’ Brundtland Commission published this definition of sustainability in its report, which called for a strategy that incorporated both economic development and consideration for the environment. Over the years, other definitions of sustainability have emerged, but the Brundtland definition remains a useful explanation that distills sustainability in a concise manner while also making clear the enormity and complexity of the undertaking.A few short decades later we are facing a world that’s changing, and at a very rapid pace. The success of any organisation is now highly dependent on the performance of other organisations, and on the continued viability of the markets and communities it serves.Investors, stakeholders and regulators are watching closely how organisations handle environmental, social and governance (ESG) matters. The climate ruling by the U.S. Securities and Exchange Commission is the latest in a string of regulatory developments around the globe. Accurately reporting environmental impacts has been added to the list of responsibilities of CFOs and internal auditors. For boards, it’s another key area of strategy and oversight.Questions AboundOrganisations need to adapt to these changes quickly. There is a lot to learn, even for those who may be ahead of their peers. Questions such as these are common: What does it mean to be sustainable in a business context? What do we need to demonstrate, and to whom? How do we make our reporting credible and compliant? How do we get actionable and accurate data both to make and prove progress?To help organisations navigate this new complex environment, Protiviti has created a guide of frequently asked questions. From basic concepts and definitions to best data, governance and reporting practices, the guide serves as a useful resource for companies at any stage of their journey – from those still determining their stance on sustainability, to those who have been reporting for years but are looking to enhance, streamline and focus their existing sustainability practice and reporting.An Easily Accessible ReferenceProtiviti’s FAQ Guide is a free online resource consisting of more than 80 questions and answers. It is organised in six topic areas mirroring Protiviti’s ESG framework, which we have used for years to help clients (and ourselves) stand up a sustainability governance and reporting structure. You will find that navigation around the FAQ Guide is easy and that sequential reading is not required – you can go directly to the section or question top-most on your mind.Protiviti’s ESG framework Image Our objective with this FAQ guide is to provide the reader with helpful insights, knowing that it cannot be an “end all, be all” publication due to the dynamic nature of the subject. We expect to add and update this information as the landscape shifts. What we do know is that sustainability is here to stay and that, at least for a while, the questions may outnumber the answers.Take ActionThe FAQ Guide is not a one-time read. We suggest you bookmark this page and use it as needed to answer questions along your sustainability journey. Our hope with this FAQ Guide is that it encourages dialogue and engagement inside your organisation to help address the risks and take advantage of the opportunities that sustainability presents to all of us. Find out more about our solutions: Sustainability Consulting We believe sustainability is a continuous journey, presenting risks and opportunities. There are no blueprints or out-of-the-box solutions, and each company needs an individualised approach to ESG reporting and operations. ESG Strategy and Planning Future-proof organisations. We help identify key stakeholder expectations and assess major impact areas, define your ambition level, then set targets and measures to reach them. ESG Reporting and Governance Gain transparency and accountability by controlling the programme and its implementation. We enable better decision-making and focus on regulatory requirements, including the timeliness and accuracy of reporting and external communication with regulators. Regulatory Compliance Disruptive technologies, regulatory pressures, evolving customer loyalty, and pressure to enhance economic returns are just some of the challenges organisations need to overcome by innovating and managing their compliance risks to succeed over the next decade. Leadership Rich Turley Rich is a managing director with over 20 years’ experience in assurance, audit, risk, and compliance management. He leads major internal audit, risk and compliance management engagements for various ASX-listed companies and major government agencies. He is a leader in ... Learn More Lauren Brown Lauren is the country lead for Australia. With over 14 years' experience in governance, risk, and internal control, she specialises across multiple industries including health, higher education, government, consumer products, and energy. She is an active member and ... Learn More Ranadip Datta Rana is a commercially focused and highly driven risk professional specialising in multi-channel complex solution consulting in APAC. A long career in institutional banking , solution sales and consulting with global clients in several industry verticals ... Learn More Featured insights BLOGS Business get ready! Australia takes another step forward with climate-related disclosure requirements The Australian proposed sustainability reporting regulation, also known as The Treasury Laws Amendment (Financial Market Infrastructure and Other measures) Bill 2024 is now before the Australian Parliament for adoption. This follows a comment period... WHITEPAPER Sustainability regulation: ESG disclosures and demand for accountability set the tone for the future In recent years, increasing pressures from a variety of stakeholders have combined to drive companies toward more sustainable practices in their business operations and greater transparency. 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