Professional services provider TMF Group, which operates a number of offices throughout Asia has launched its new environmental, social and governance (ESG) administration services.
The Amsterdam-headquartered company serves corporates, financial institutions, asset managers, private equity firms, real estate investors and family offices, says the new offering will help companies and fund managers define, set up and maintain accurate ESG reports.
ESG reporting is already a critical component of sustainable and responsible business practices, with investment decisions, regulatory requirements and consumer preferences now frequently influenced by ESG components.
Reporting requirements for ESG reporting, TMF points out, are becoming more challenging; and not only do companies need to comply with current regulations, they also need to understand the different reporting standards and frameworks, and consider how to collect and present their ESG material in the most effective way.
Furthermore, building an in-house ESG team can be both time consuming and expensive, and the management of ESG data is complex and subject to frequent updates. ESG administration service providers can also scale their support to meet a client’s evolving needs, accommodating both small and large enterprises.
The option of outsourcing ESG administration services, TMF notes, can be a cost-effective alternative, allowing companies to focus on their core business operations.
“It is crucial to be able to meet the growing demand for ESG reporting from investors, clients and regulators,” says Pierre Lechat, the company’s head of ESG solutions. “This new service, combined with our commitment to best practice, will ensure our clients keep up with all ESG reporting requirements.”