Episode 5 Summary
ESG (Environmental, Social and Governance) is a developing set of principles which will increasingly impact the retail industry.
In 2019, The Business Roundtable produced a paper that was signed by 181 Chairpersons of global companies and firms. These leaders are redefining the traditional thought that shareholders are the ultimate beneficiary of a well-led and managed company. Today’s business leaders believe companies should also positively impact and be in service to employees, suppliers, customers, the communities they operate in, and the environment.
Although many retail businesses are doubling down on their societal contributions, especially through their diversity, equity and inclusion initiatives, there are significant environment-related issues that retail leaders can prioritize and, in turn, see positive results.
Enforcement of ESG initiatives will likely come in the form of additional income and excise taxes. On a different level, money managers are rating, following and investing in compliant ESG companies. That is why retailers, wholesalers, and distributors need tax professionals who are actively engaged and knowledgeable about ESG. Join us to learn how ESG uniquely impacts the retail landscape and learn key insights that can help you futureproof your tax strategy with ESG in mind.
Mark Rems, Principal, State and Local Tax, KPMG
Brett Weaver, Tax Impact Leader, KPMG
Michael Bernard, Chief Tax Officer, Vertex
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About the Podcast Series
Disruption is nothing new in retail, but today’s executives haven’t faced anything like the events of 2020 in a very long time. But what tech and trends are creating the most challenges…and which are creating the most opportunity? In this series, we aim to answer one very big, important question: What’s Taxing Retailers?