Only 16% say ESG planning was fully integrated in their financial planning and performance process. However, 57% of the North America respondents report doing so now, and this is expected to increase over the next three to five years.
Most respondents also said there should be more availability of non-financial performance data, with more than half believing that it should be given equal weight to financial information.
Uncertain times
The report – Planning and Performance Management Paradigm – was prepared by ACCA (the Association of Chartered Certified Accountants) and Chartered Accountants Australia and New Zealand (CA ANZ) in association with PwC.
ACCA chief executive Helen Brand OBE said that finance professionals play a vital role in guiding organisations towards their strategic goals through highly uncertain times.
“Performance drivers are no longer just financial – sustainability and non-financial disclosures need to be integrated into planning and performance processes to create a multidimensional picture beyond the constraints of annual planning cycles,” she said. “For many organizations, this will mean transformation of planning and performance management processes and culture.”
