ESG (And Carbon) In The Spotlight: Highlights From Workiva’s Amplify 2024 Conference

ESG (And Carbon) In The Spotlight: Highlights From Workiva’s Amplify 2024 Conference

Workiva just wrapped up its annual Amplify conference, with 2,000 customers and partners gathering in Denver, Colorado to share their experiences and challenges across financial reporting, risk and ESG. Throughout the conference, Workiva emphasized its commitment to helping customers throughout their sustainability journeys. For example, during the opening general session, Workiva described a fictional firm concerned over the Corporate Sustainability Reporting Directive (CSRD) and also highlighted its newly launched Workiva Carbon solution. A major part of Amplify was customer-led sessions, during which Workiva users – such as Joby Aviation, McCormick, Regions Bank, Sysco and Wiley – shared their experiences and offered advice to peers. Here are some key takeaways from the sessions:

• CSRD is top of mind.
  In almost every panel I attended – and with almost every customer to whom I spoke – CSRD preparedness came up as a key concern. One sustainability leader noted that his firm thought it had well-established ESG reporting practices… until it started doing its double materiality assessment in preparation for the CSRD.
  
  
• Collaboration is essential to integrated reporting.
  The attendees at Amplify included professionals working across audit, finance, risk and sustainability, and several sessions discussed how different functions can work together to improve and streamline integrated reporting. During one panel, a firm’s Director of ESG and its Finance Risk Officer shared lessons on how they collaborated to drive efficiencies and even make their reporting process more ‘fun’ – a sentiment not typically associated with integrated reporting!
  
  
• Firms should highlight the positive benefits associated with their ESG programmes.
  A significant theme throughout the conference was turning reporting obligations into a business opportunity. One panel I attended focused on the financial return on investment of sustainability initiatives, with the speakers encouraging firms to look beyond savings associated with reducing energy usage and waste consumption and into less tangible savings, such as the reduced turnover and hiring costs associated with more engaged employees.

Guest speakers at Amplify included Michelle Obama and George Clooney, who both motivated and amused the attendees. Speaking to jam-packed rooms, they shared stories of their experiences dealing with change and getting comfortable being uncomfortable in certain situations – both key lessons for sustainability leaders who are dealing with the fast-changing landscape of ESG reporting.

One thing missing from Amplify was the incorporation of customers’ ESG stories into conversations on the main stage. While general sessions featured some user experiences, these were focused heavily on financial reporting and audit processes. There was also limited discussion about Workiva’s own sustainability achievements, although these were peppered into panel discussions. But overall, the energy and excitement over Workiva’s ESG solution was palpable. On the last day of the conference, I heard one attendee mention that they were leaving with all these great ideas and energy, but that the real work begins tomorrow, with convincing others in their organization to take action.