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SUSTAINABILITY SPOTLIGHT | ISSUE 1 – APRIL 2023
SUSTAINABILITY AND BUSINESS STRATEGY
TAX: How tax represents ESG in action Environmental, Social and Governance (ESG) factors can provide a framework for evaluating a business’s performance beyond its financial profitability, by assessing its impact in each of these three broad areas: • Environmental factors measure a business’s impact on the natural environment. This will include its use of natural resources, emissions, waste generation, and its ability to manage environmental risks (and embrace environmental opportunities). • Social factors measure a business’s impact on, and perception in, wider society. This will include its interaction with employees, customers, suppliers, and the external community. • Governance factors measure a business’s internal governance structures and practices. This will include its overall strategy, leadership, ethics, transparency and accountability, and risk management.
BUSINESS STRATEGY: Achieve business growth by managing for the future Does your business supply a company that has committed to #ESG and #sustainability goals? This could significantly impact your own operations.
Learn more in BDO in Canada’s #AccountingForTheFuture podcast.
LEADERSHIP: Understanding the board’s ESG mandate Sustainability and ESG are propelling savvy directors to navigate new ESG-related responsibilities. Amid a dynamic regulatory landscape and rapidly evolving stakeholder demands, corporate boards face a new mandate: oversight of the organisation’s adoption of ESG programmes. While boards may differ in how to approach or allocate responsibility, failure to fulfil this duty can alienate stakeholders, draw regulatory scrutiny, and jeopardise customer and employee loyalty.
The board’s duties of care and loyalty already encompass ESG. As ESG risks and impact become more
So, where does tax fit and why does it matter? In this article , Robert O’Hare fromBDO ' s Global Tax team, explores this question.
material to the business, it ultimately falls to the board to ensure that management is acting in the interests of a broader set of stakeholders in ensuring the sustainability of the organisation.
Read more from Amy Rojik at BDO in the USA
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| 1. FOREWORD | 2. SUSTAINABILITY AND BUSINESS STRATEGY 2. SUSTAINABILITY AND BUSINESS STRATEGY | 3. SUSTAINABILITY IMPERATIVES | 4. INDUSTRY SECTORS | 5. RESOURCES | 6. CONTACT US
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