In this insightful interview, Jamila Mendoza, Executive Chair at Norgesen Global, discusses the evolving landscape of corporate sustainability law and its impact on businesses globally. As a pioneer in this field, she shares Norgesen’s experience in aligning financial and non-financial double materiality within regulatory frameworks like the Corporate Sustainability Reporting Directive (CSRD) and the Environmental, Social, and Governance Reporting Standard (ESRS).
Jamila highlights the importance of integrating ESG factors into corporate governance structures, risk management processes, and strategic decision-making to foster long-term value creation and resilience. She also provides insights into the anticipated expansion of corporate sustainability law, emphasizing transparency, accountability, and the convergence of financial and non-financial reporting standards.
Corporate Sustainability Law: Aligning Financial and Non-Financial Double Materiality within the CSRD and ESRS Regulatory Frameworks for ESG reporting
Jamila Mendoza, Executive Chair at Norgesen Global, a pioneer in corporate sustainability Law and ESG reporting, certifying companies in decarbonization in the Norwegian energy industry, and board member of multiple organisations.
Merlin Beyts: As a Norwegian firm, how Norgesen Global has experienced the evolving landscape of corporate sustainability law impacting businesses globally?
Jamila Mendoza: Thanks for the warm interview and the time spent with our readers! The landscape of corporate sustainability law is rapidly evolving, driven by increasing recognition of the importance of environmental, social, and governance (ESG) factors in business decision-making. Regulatory frameworks such as the Corporate Sustainability Reporting Directive (CSRD) and the Environmental, Social, and Governance Reporting Standard (ESRS) are shaping how companies disclose their sustainability performance. At Norgesen Global, we have streamlined growing trends towards aligning financial and non-financial double materiality within these frameworks, highlighting the interconnectedness between financial performance and sustainability.
At Norgesen Global, we’ve witnessed firsthand the transformative impact of corporate sustainability law on businesses worldwide. Through our pioneering work in aligning financial and non-financial double materiality within regulatory frameworks like the CSRD and ESRS, we’ve helped companies navigate complex sustainability challenges while driving long-term value creation. For instance, we collaborated with a leading energy and space firm to integrate ESG factors into its corporate governance structures, resulting in enhanced resilience and stakeholder engagement. Looking ahead, we anticipate continued expansion of corporate sustainability law, emphasising transparency and accountability. We urge companies and investors to embrace these changes positively and advance their sustainability performance effectively.
Merlin Beyts: How do you envision the integration of ESG factors into corporate governance structures, particularly in light of regulatory developments like the CSRD and ESRS?
Jamila Mendoza: At Norgesen, a Norwegian firm, the integration of ESG factors into corporate governance structures is essential for fostering long-term value creation and resilience. Regulatory frameworks such as the CSRD and ESRS provide guidelines for companies to disclose relevant ESG information to stakeholders, including investors, regulators, and the public. The financial markets demonstrate that the incorporation of ESG considerations into board oversight, risk management processes, and strategic decision-making is critical. By aligning financial and non-financial priorities within governance frameworks, companies can better address emerging sustainability challenges and drive sustainable growth.
Merlin Beyts: How do you anticipate the role of corporate sustainability law evolving in the coming years, and what implications might this have for businesses and investors?
Jamila Mendoza: What we have seen of corporate sustainability law is poised to expand significantly in the coming years as stakeholders increasingly demand transparency, accountability, and action on ESG issues. Regulatory developments such as the CSRD and ESRS signal a growing emphasis on standardised ESG reporting and disclosure requirements.
Businesses and investors alike will need to adapt to this evolving regulatory landscape by integrating sustainability considerations into their decision-making processes, risk assessments, and performance metrics. I envision greater convergence between financial and non-financial reporting standards, facilitating more robust ESG integration and enhancing the ability of companies to create long-term value for stakeholders while mitigating risks.
I encourage all companies and investors to maintain a positive mindset towards upcoming sustainability regulations and to reach out to preferred ESG and sustainability experts to advance their sustainability performance soon.
Read the full LegalTech Diaries Volume 4: https://www.legaltech-talk.com/legaltechdiaries/volume-4/
