The environmental, social and governance (ESG) regulatory landscape is rapidly evolving – stakeholders expect credible organisations not simply to comply with current regulations but to be proactive and prepared for future legislation. To ensure that your organisation can meet these regulatory requirements and stay ahead of the game when it comes to maintaining compliance and future-proofing your approach to ESG, it is important for your organisation to understand what is on the regulatory horizon.
All businesses must understand their compliance requirements, regardless of their scale. While most regulations focus on engaging the largest organisations, mandatory ESG compliance is on the horizon for businesses of all sizes globally. Regulations like the UK’s Task Force on Climate-related Financial Disclosures (TCFD) recommendations and the EU’s Corporate Sustainability Reporting Directive (CSRD) are important frameworks and have been enacted into legislation. Regardless of size, understanding what is on the regulatory horizon provides a clear picture of what is coming, how to prepare and, importantly, how to maximise the opportunities these regulations present.
At Simply Sustainable, we conduct horizon scans for organisations of the relevant policy and regulatory changes and trends occurring within your selected regions, both those currently in force and those in the pipeline, through a PESTLE analysis. Through credible industry research and trend reports, we can support your business in the identification of these material trends that need to be monitored and tested within your organisation. The identified trends and issues are then grouped into the relevant political, economic, social, technological, legal and environmental issues.
Following the trend identification and categorisation, we use our Horizon Scanning Framework Tool to help assess the significance of each piece of policy and legislation for your organisation, identifying a potential impact and the level of impact from low to high.
Using our team’s collective, industry-specific experience, we can allocate an overall risk score for your organisation, with the highest being identified as the most significant for you to address. From this point, we can work with you through our other service offerings to develop an action plan to mitigate these significant risks and their impacts on your organisation.
Horizon scanning helps your business stay future-proofed. Our strategic and highly analytic process will help your organisation understand what is coming, what risks this might present and, most importantly, how to make the most of the opportunities created.