Having grown up and lived my whole life in Oxfordshire, I’ve always felt a strong connection to the local community and environment. From the Chiltern Hills to the bustling businesses of Oxford, sustainability isn't just a global challenge—it’s a local one too. As finance leaders across the Thames Valley navigate the evolving world of ESG (Environmental, Social, and Governance) reporting, our latest report shows there’s progress, but there’s also more work to do.
A Snapshot of Local Progress
Our report surveyed 110 finance leaders across the Thames Valley and revealed that 61% of organisations have an ESG policy, with larger firms leading the way. Yet only 11% of respondents felt they were “very familiar” with sustainability reporting frameworks, such as TCFD and SECR. While awareness is increasing, there’s a real gap in deep understanding—especially among small and medium-sized businesses.
Larger organisations are setting benchmarks, with 71% producing Corporate Sustainability Reports (CSRs) as part of their annual reporting. In contrast, only 7% of small businesses do the same, and many rely on minimal approaches, like tracking energy use through invoices. These numbers highlight a divide in local sustainability practices, and it’s a divide we need to bridge.
Sustainability in Our Local Economy
Here in Oxfordshire and the wider Thames Valley, we have a unique opportunity to be a leader in sustainable growth. We’re home to innovative SMEs, historic institutions, and global businesses—all capable of making a meaningful impact. But it’s clear that smaller firms face significant challenges. Many view ESG reporting as a compliance burden rather than a chance to make a difference. For some, it’s a lack of resources; for others, it’s simply not knowing where to start.
That said, medium-sized firms are showing promising signs, rating sustainability at 7.3 out of 10 in terms of its importance in decision-making. But without clear data systems or the ability to track their ESG impact consistently, their progress can stall.
What Needs to Happen
If we want sustainability reporting to drive real change in Oxfordshire and beyond, it must become more than a tick-box exercise—it needs to be embedded in the fabric of our local organisations. Here’s how I believe we can get there:
- Leadership with Purpose: Sustainability efforts need to be driven from the top. Our report shows that 58% of ESG policies are led by senior leadership, which is a positive sign, but leadership must also be proactive in making ESG relatable at every level.
- Supporting SMEs: Many smaller firms want to do more but feel overwhelmed by regulations and costs. More local partnerships, grants, and knowledge-sharing initiatives can help bridge this gap. As a community, we should be championing collective solutions to sustainability challenges.
- ESG Education and Awareness: The low level of “very familiar” finance leaders shows the need for more education. Whether through workshops, industry events, or peer networks, we need to demystify sustainability reporting for finance teams.
Why Local Action Matters
When local organisations commit to meaningful ESG strategies, the ripple effects are profound. More sustainable businesses mean lower emissions, more resilient supply chains, and better resource management—all of which benefit not only stakeholders but the local community. Oxfordshire’s heritage and environment are worth protecting, and local businesses have a pivotal role to play.
I’m passionate about seeing our region lead by example. Sustainability starts at home, in the choices we make as individuals and organisations. The world is watching what businesses do next, and I want to see the Thames Valley not just meet expectations but exceed them.
A Call to Action
Our report makes one thing clear: there’s potential here. But potential alone isn’t enough. Finance leaders must shift from viewing ESG as an obligation to seeing it as an opportunity to create positive change. Larger firms have a responsibility to set the standard, and smaller organisations need the support to follow suit.
Sustainability is about more than meeting regulations—it’s about leaving something better behind. Here in Oxfordshire, we have the talent, the innovation, and the heart to make a difference. Let’s make sure that sustainability isn’t just something we report on—it’s something we live by.
By working together, we can build a more sustainable future for our businesses, our communities, and the place we’re proud to call home.