Environmental, Social, and Governance or ESG is the latest iteration of GRC. This humanization of the compliance world has been on the rise over the past few years. As a result, an organization’s ESG performance has become critical to its ability to attract customers and investors.
Today’s ESG policies are designed to protect employees and the environment but can also overwhelm an organization. The GRI and SASB standards include disclosure requirements used for ESG reporting. Although they share this similarity, each uniquely presents its requirements. GRI standards consist of three Universal Standards applicable to all GRI reporting and separate Sector and Topic Standards to be chosen as needed by each organization. SASB creates industry-specific standards. Meanwhile, many ISO standards that contribute to the United Nations Sustainable Development Goals also include requirements that address the creation and maintenance of internal controls. That’s a lot of deconfliction for potentially overlapping rule sets.
Recommended AI News: 47% of Educational Institutions Experienced a Cyberattack on their Cloud Infrastructure in 2022
As GRC trends shift, it’s important to know that there is help. Unified Compliance’s (UC) AI and machine learning assist compliance professionals in managing risks more efficiently and less intrusively. With UC’s developments in GRC technology, they can have more control over their data and more insight into their risks while expending less effort.
Recommended AI News: The FinOps Foundation Announces AIA as a Premier Member
Unified Compliance, the industry leader assisting businesses with GRC processes and auditing, is actively mapping SASB, GRI, and ISO reporting standards into its already successful Common Controls Hub. When asked about the growing policy emphasis on changing social norms and a new focus on climate change, Vicki McEwen, program manager for UC’s mapping department, stated, “It’s exciting and rewarding to be involved with humanizing GRC and helping our clients meet their goals around social and environmental responsibility.”
Recommended AI News: Panaya and Illumiti Partner to Drive Smart Testing and SAP S/4HANA Digital Transformation
[To share your insights with us, please write to sghosh@martechseries.com]
Comments are closed.