Global Finance Leaders Turn to AI to Solve ESG Data Problems: EY Survey

According to the 2024 EY Global Corporate Reporting Survey, finance leaders worldwide are increasingly concerned about the integrity and reliability of nonfinancial data in corporate reporting, with 96% expressing doubts about its effectiveness for decision-making. Many fear missing sustainability targets, with only 47% believing companies are on track to meet their goals. While 78% of investors see potential in new reporting standards to enhance sustainability disclosures, over half of finance leaders anticipate challenges, including high costs and complexity. The survey highlights a growing interest in AI to improve data accuracy and transparency, although many finance leaders remain cautious about its adoption due to risks and costs. Overall, the survey underscores the critical need for improved corporate reporting practices amid rising accountability for sustainability efforts. Resources: https://esgnews.com/global-finance-leaders-turn-to-ai-to-solve-esg-data-problems-ey-survey/