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AAB Group / News / AAB Expands ESG Division To Support More Businesses Build Sustainable Futures
In line with the global imperative for decarbonisation, Environmental, Social and Governance (ESG) reporting legislation is ramping up around the world. In the last year ESG reporting changes have been written into EU regulations and will be written into UK…
News25th Apr 2024
In line with the global imperative for decarbonisation, Environmental, Social and Governance (ESG) reporting legislation is ramping up around the world. In the last year ESG reporting changes have been written into EU regulations and will be written into UK regulations over the next three years, impacting a range of businesses from larger companies through to SMEs.
In a bid to support businesses of all sizes to integrate sustainability principles into their operations and so comply with these legal requirements, leading Island of Ireland chartered accountancy and business advisory firm, AAB, has announced the expansion of their ESG division across the United Kingdom and Ireland.
An increasing number of businesses will have to report and be audited on their carbon footprint as part of the Streamlined Energy and Carbon Reporting regulation (SECR) in the UK and Corporate Sustainability Reporting Directive (CSRD) in the EU, with a risk of fines for non-compliance.
However, in addition to compliance, businesses stand to gain a number of competitive advantages by taking action to establish this framework for measuring and reporting on ESG topics, potentially including: greater attraction and retention of talent, access to finance, cost savings, increased value generation / profitability and retention of contracts as well as acquiring new business.
Aveen McShane, ESG Director at AAB, explains the rationale underpinning the division:
“In today’s rapidly changing business landscape, ESG factors are becoming increasingly important considerations for investors, regulators, and consumers. It has been consistently highlighted that companies performing strongly across all three factors of ESG have been shown to be more profitable, with one study finding up to 6 times more. These businesses not only mitigate risk, but also stand to gain a competitive edge by fostering long-term resilience and value creation. “At AAB, we recognise the critical role that businesses play in addressing pressing global challenges, such as climate change and social inequality. Our ESG proposition is designed to support businesses in embracing sustainability as a core component of their operations, driving positive outcomes for both society and the bottom line. “We are extremely proud to offer this proposition, which not only complements our existing portfolio of business and professional services, but also adds significant value to our clients, both established and new. ESG is considered a key growth area within AAB, with plans including further recruitment, team development and training.”
“In today’s rapidly changing business landscape, ESG factors are becoming increasingly important considerations for investors, regulators, and consumers. It has been consistently highlighted that companies performing strongly across all three factors of ESG have been shown to be more profitable, with one study finding up to 6 times more. These businesses not only mitigate risk, but also stand to gain a competitive edge by fostering long-term resilience and value creation.
“At AAB, we recognise the critical role that businesses play in addressing pressing global challenges, such as climate change and social inequality. Our ESG proposition is designed to support businesses in embracing sustainability as a core component of their operations, driving positive outcomes for both society and the bottom line.
“We are extremely proud to offer this proposition, which not only complements our existing portfolio of business and professional services, but also adds significant value to our clients, both established and new. ESG is considered a key growth area within AAB, with plans including further recruitment, team development and training.”
Based across the Island of Ireland, North and South AAB’s ESG team have extensive expertise in this increasingly important field and hold credentials from Cambridge University, Chartered Accountants Ireland and the Institute of Accountants in England and Wales. With a trained B Leader on the team, AAB can also support companies pursuing B Corp certification.
Alasdair Green, ESG Partner at AAB added:
“Our clients realise that by commencing their sustainability journey, they will not only drive profits, but they will become more resilient, adaptable and avoid the real risk of being left behind. We are here to support forward-thinking businesses with our five-stage pathway. Our goal is to build resilient and future-proof organisations that can meet today’s needs, without endangering those of future generations.”
AAB’s ESG service offering is designed to assist businesses in navigating the complexities of sustainable business practices by offering:
Ready to explore how our ESG division can help transform your bottom line and secure a sustainable future for your business? Contact our team today.