Home topics news Source: Cowomen on Unsplash News News Australian businesses urged to ramp up ESG commitment Yajush Gupta October 23, 2023 A new report suggests that Australian businesses must significantly increase their investments in ESG compliance, market engagement, and reporting to align with global standards and meet stakeholder expectations. The report, part of the CommsWatch series by leading Brisbane-based consultancy BBS Communications Group, explores the growing importance of ESG for businesses and corporate communicators. In the wake of Australia’s ambitious commitment to achieving net zero emissions by 2050 and the continual evolution of regulatory standards, the report underscores that ESG reporting has become an unignorable focal point. Beyond regulatory concerns, there’s a burgeoning scrutiny from stakeholders, the general public, and the media, which collectively exerts substantial pressure on businesses. These entities are now compelled to comprehend, take concrete actions, and transparently communicate their efforts concerning ESG factors. In her role as Head of Research and Analytics, Amanda Firth is instrumental in spearheading these revelations. She underlines that marketing and communication leaders, as well as their teams, shoulder a direct responsibility in ensuring that claims related to an organization’s ESG-based endeavors are not just accurate but also transparent. She noted, “As Australia strives to achieve net zero emissions by 2050, and regulatory requirements continue to evolve, ESG reporting is receiving heightened attention. With growing scrutiny from stakeholders, the public, and media, businesses face significant pressure to better understand, act on, and report ESG factors.” Firth added, “Marketing and communications leaders