A webinar ‘ESG: Risks and Opportunities for Accountants’ took place yesterday (Thursday, 18 Nov), and saw Institute’s Director of Public Policy, Dr Brian Keegan, host a panel discussion with two experts in investment: Sustainable Investment Director of Gresham House, Rebecca-Craddock Taylor and Gerard Reid, Co-founder and Partner at Alexa Capital, an independent financial services business committed to mobilising capital towards achieving net-zero.
During an engaging discussion, Rebecca discussed ESG investment in the context of strong performing ESG funds, EU regulation, growing consumer demand, and growing scrutiny of ESG claims, and provided a glimpse of future trends in this market. Gerard gave a ‘big-picture view’ of why accountants should be at the centre of non-financial reporting, and how they can help companies embed ESG goals, implement ESG regulations, and perform on-the-ground monitoring and measuring.
During the panel discussion that followed questions arose as to whether there are enough opportunities for ESG funds to invest in, with Rebecca Craddock Taylor pointing to the number of investors seeking opportunities in the same type of projects (forestation, for example), the contrast between the ambitions of policy-makers and what’s possible today, and the corresponding opportunities for the private market to scale some smaller solutions that will become the big opportunities of the future.
Also discussed was the question of why industry has been so slow to migrate to – and develop – alternative forms of energy, with Gerard pointing to very significant changes in the past 18 months in industries that have reached an inflexion point with their use and generation of power, with examples of Volkswagen and Tesla entering the electricity space for customers, and Google looking to develop 24/7 renewable power rather than being consumers of it.
Also discussed was the challenge facing investors in assessing information while waiting for a standardized approach to reporting ESG information, as in its absence companies are able to select the data that presents them in the best light, but with information that is not necessarily assured or audited.
A recording of the event will be available on the Sustainability Centre of the Institute website soon.
Our next event on the subject of ESG forms part of the Risk Management and Internal Audit Conference 2021 where Prof Niamh Brennan, UCD will talk on the subject of Sustainability the threat of “greenwashing”: Book here.
Keep an eye on the Sustainability Hub for details of future events.
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