At the ESG Integration Forum – Europe, IR Magazine sat down with Lili Huang, director of investor relations at electronic and industrial applications manufacturing group discoverIE, to discuss how the ESG landscape in the UK has changed in 2022, how IROs can navigate and manage the increasing number of regulations and what challenges they are likely to face in 2023.
‘How do we make sure as IROs that we get our head around [regulations] and communicate clearly internally and externally?’ asked Huang. ‘How important is it to get the internal buy-in, but also external? How do you set out your strategy for all these regulations? These are all challenges for IROs at least within the next two to three years.’
The TCFD framework became mandatory in the UK in 2022 and Huang discussed the major hurdles of mandatory TCFD-aligned requirements for UK companies.
‘The main issue I see is that businesses do planning [for] three to five years – very short term, sometimes even one year,’ she pointed out. ‘You never know what’s going to happen next year and business strategies change. TCFD is asking us to look at a much longer term, up to 2100: this is almost impossible for businesses to imagine.’
Listen to The Ticker #133 to hear our team’s big takeaways from the forum.