Experts call for systemic change in accounting, ESG to reflect true value

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Experts call for systemic change in accounting, ESG to reflect true value - Business Standard

Quick Summary:

As the global economy pivots towards decarbonisation, the need for strong regulatory oversight is evident, particularly in the allocation of climate finance and ensuring investments in sustainability are responsibly managed.

Countries and corporations must integrate governance structures that prioritise long-term societal value over short-term profits.

However, both experts acknowledged the complexities of implementing ESG principles globally.“If it’s not incentive-compatible, it won’t work,” said Rajgopal, criticising systems that rely on voluntary compliance or rating agencies.