The Growing Impact of ESG on Stakeholder & Investor Relationships with Andrew Waitman, CEO of Assent

CIBC Innovation Banking Podcast

In a conversation with host Michael Hainsworth, Andrew Waitman, CEO of Assent, a data management platform that informs and guides ESG strategy, delves into the evolving landscape of ESG (Environmental, Social, and Governance), and the importance of responsible supply chain management. He underscores the growing scrutiny from stakeholders, investors, and the public, who now prioritize ESG and sustainability in their decision-making processes. Andrew warns that organizations failing to adapt will encounter repercussions both in terms of their reputation and financial standing.

Best practice is no incidents

When questioned about the significance of investing in ESG, Andrew draws a parallel with cybersecurity. In the realm of cybersecurity, organizations aim to prevent security breaches through investment in programs and systems. Similarly, in the context of ESG, proactive investment is imperative for uncovering and addressing issues early, and averting potential financial and reputational consequences down the road.

ESG reporting will be the new financial reporting

Andrew highlights the century-long evolution of strictly regulated financial reporting and foresees a similar trajectory for ESG reporting. In the near future, Andrew believes companies are likely to face similar mandates to disclose their sustainability practices.

Founders are responsible for setting their values

Andrew asserts that it falls upon founders to integrate ESG and sustainability into their organizations and disclose these values to stakeholders, employees, and the broader public. He underscores that this integration has become vital for attracting investment and fostering organizational growth.

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