Finance Leader's Guide to Navigating the Global ESG Standards Revolution ↗️

The landscape of ESG reporting is rapidly evolving, with new regulations emerging all over the globe. For finance leaders, this is more than a compliance challenge. It's an opportunity to transform regulatory requirements into market value, stronger ratings, and improved investment prospects.

Mark J Lumsdon-Taylor, Partner and Head of Sustainability and ESG at MHA, joined The CFO Show to share insights from his extensive experience, which dates back to his work with Prince Charles's Accounting for Sustainability program in 2004.

Europe's Bold Move: Setting Global ESG Standards 

While Europe accounts for just 15-16% of global emissions, they're setting the pace for worldwide sustainability reporting standards. Why? Because if leading economies don't demonstrate the highest standards, who will?

Without rigorous standards and enforcement, businesses won't move beyond voluntary initiatives. Europe's comprehensive reporting requirements are forcing real accountability in sustainability commitments.

Introducing Two-Way Environmental Accountability

Europe's "double materiality" requirement is transforming ESG reporting from a one-way street into a more complete picture. Companies can no longer just report how climate change affects their bottom line. They must now also account for how their operations impact the environment.

For example, if a company's poor construction causes erosion that damages nearby villages, that impact must be reported. This expanded accountability is pushing companies to think differently about their role in environmental and social issues.

Making ESG Implementation Work for Your Business

With ten major regulations introduced in just five years, organizations need a clear path forward with ESG implementation. Mark's approach breaks this complex challenge into three practical stages that any business can follow.

Step back before diving in. The foundation of successful ESG implementation starts with a pause. Before rushing into compliance, organizations need to evaluate their current sustainability activities and understand exactly which regulations apply to them. A thorough assessment creates the foundation for a meaningful strategy.

Transform requirements into opportunities. Rather than viewing ESG requirements as mere compliance exercises, organizations can use them as a framework to reshape operations. This proactive approach builds better governance, improves market value, reduces long-term costs, and strengthens relationships with stakeholders.

Commit to the long view. ESG excellence isn't achieved through quick fixes. Success requires a deliberate 3-5-year journey that starts with guidance from global specialists. Organizations should emphasize quality over quantity in their reporting and break implementation into manageable phases.

Ready to build a 3-5 year ESG strategy that delivers real business value? Mark shares his practical insights and implementation strategies on this week's episode of The CFO Show, available wherever you typically listen.

Take FP&A Beyond Boundaries at Excelerate Finance 2025…

Register now for a transformative three-day experience! Gain exclusive insights into cutting-edge AI technologies, connect with visionary leaders in strategic finance, and explore the next-gen tools reshaping the future of finance. Elevate your skills and network with experts from Vena, Microsoft, and top companies across industries.

In case you missed it…

Finance transformations fail at an alarming rate — 75% in the last five years. In our last episode, Myles Corson, EY Global and Americas Strategy and Markets Leader, Financial Accounting Advisory Services, reveals why this rate is 10 points higher than other executive-led transformations. The pivotal factor? The human element. Myles shares the characteristics of successful transformations, from creating clear, well-communicated visions to ensuring two-way communication channels that capture frontline insights.

What’s next…

Successful ESG implementation starts with strong risk management and governance, but how do you make it work in practice? In Part 2 of our conversation, Mark J Lumsdon-Taylor, Partner and Head of Sustainability ESG at MHA, reveals his three fundamental keys to success. From integrating ESG into core risk registers to establishing the right governance structure, learn how leading organizations are building sustainable ESG practices from the ground up.