04 Nov, 2023
How Big 4 Are Fuelling the Sustainability Divide: A Deep Divide greater than Digital Divide
The global conversation surrounding sustainability and corporate responsibility has never been louder. As climate change intensifies and environmental degradation accelerates, businesses are under increasing scrutiny to address their impact on the planet. In this context, the Big 4 accounting firms - Deloitte, PwC, Ernst & Young (EY), and KPMG - play a pivotal role in shaping corporate strategies, reporting practices, and, ultimately, the sustainability divide. This article delves into how the Big 4 are both contributing to and addressing the sustainability divide, exploring their responsibilities and impact on the path towards a more sustainable future.
I. The Big 4's Role in Shaping Corporate Sustainability
- Sustainability Reporting
The Big 4 are influential in shaping corporate sustainability reporting standards. They provide advisory services to companies on sustainability disclosure and compliance with various frameworks, including the Global Reporting Initiative (GRI) and the Sustainability Accounting Standards Board (SASB). By assisting businesses in reporting their environmental, social, and governance (ESG) data, they help build transparency and accountability. However, this influence also raises concerns about the potential for