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Optimism is tinged with concerns

Although CFOs seem largely optimistic, there’s a caveat to this survey’s results. The latest survey was in the field in early March, prior to the Silicon Valley Bank and Signature Bank collapses that caused turmoil particularly in the financial services and technology industries. Any negative vibes resulting from the banking sector turbulence over the last several weeks were therefore not captured in this survey.

With the SEC expected to issue new climate disclosure requirements in the first half of this year, the survey sought to understand how CFOs are handling environmental, social and governance (ESG) topics and reporting in their organizations. Finance leaders reported that they are taking stock of ESG in their strategic moves and preparing to report their ESG metrics in a thorough fashion. Almost three-fourths (73%) of CFOs give at least moderate consideration to ESG when they’re making decisions, and more than half have clearly defined ESG goals and already report progress against ESG key performance indicators across all applicable geographies.

Emphasis on strategy and reporting

When the SEC issues its long-awaited climate disclosure requirements, it’s expected that they will affect both the public companies that the SEC regulates and the companies that do business with them.

The survey shows that respondents are gearing up for that reporting. More than one-fourth (27%) of CFOs said ESG disclosures will be one of the biggest challenges their business will face over the next six months. That’s more than double the percentage from the 2022 Q3 survey.

While it would be a stretch to say that ESG is top-of-mind for most companies, as other challenges were rated as more significant than ESG reporting, ESG nonetheless is a significant factor in strategic discussions for many CFOs. More than one-quarter (29%) said ESG is a fundamental consideration in their decisions, while an additional 44% said ESG is a moderate factor in decision-making. Just 9% don’t consider ESG at all.

Insights to be ready in a post-pandemic world

Everyone misses work or school once in a while. They’ll take a sick day, recuperate and are back in the office or classroom a day later. But some young women and girls miss more than one day of school every now and then. They may be forced to skip school every month because they can’t afford sanitary products — putting them days, weeks and even months behind their peers.

Brooke and Breanna Bennett, twin sisters from Montgomery, Alabama, were first introduced to this issue when they saw their mother, a teacher, providing menstrual products to students. The girls were shocked to learn peers had to ask their teacher for these necessary items — and that on average, one in five girls miss school because they don’t have access to them.

“I couldn’t believe girls were missing school because of their period,” Breanna said. “Every girl gets their period, so I thought every girl had access to period products.”

Moved by their mother’s story, the girls were motivated to take action on behalf of their peers, starting in their own community.

So, for their 12th birthday they decided to donate menstrual products to an after-school program for low-income students living in public housing. They thought they were making a one-time contribution, but after seeing the effect it had on the young women, it turned into much more — and that day, they became 12-year-old founders of Women in Training, an organization dedicated to ending period poverty. Moving forward, Women in Training became an official nonprofit and with the help of their mom, they began providing their signature “WITKITS” and menstrual education to young women and girls.

“We founded Women in Training because we believe having a period shouldn’t stop you from living your life,” Brooke said. “Young women and girls deserve to feel comfortable and clean wherever they go — and they should have equal access to the products they need.”