(Warning: Regulatory Nerd Version)
1. Lifecycle management: Information governance practices help companies track ESG data lifecycle and reduce environmental impact.
2. Data traceability: Information governance practices ensure transparency and compliance with regulations like the California Consumer Privacy Act.
3. Continuous improvement: Information governance practices help companies collect and report data on progress toward the UN Sustainable Development Goals.
4. Audit readiness: Information governance practices ensure accurate and complete ESG data for audits required by regulations like the Sarbanes-Oxley Act.
5. Collaboration: Information governance practices facilitate collaboration between departments and stakeholders, as recommended by the Task Force on Climate-related Financial Disclosures (TCFD).
6. Data privacy: Information governance practices ensure compliance with privacy regulations like the EU and UK GDPR.
7. Compliance monitoring: Information governance practices ensure compliance with ESG reporting standards set by the Sustainability Accounting Standards Board.
8. Risk management: Information governance practices help companies identify and mitigate ESG risks, such as those related to conflict minerals as required by the Dodd-Frank Act.
9. Data accuracy: Good information governance practices ensure accurate and consistent data collection, storage, and analysis required by regulations like the Global Reporting Initiative's Standards.
And the number 1 way that IG helps companies comply with ESG reporting standards….
Transparency: Information governance practices ensure companies have accurate data to report on their policies and performance as required by ESG regulations such as the EU Non-Financial Reporting Directive.
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