Social & Enviromental Responsibility.
The business world never stands still, with businesses having to evolve and change to survive and thrive. Over the last decade there has been a significant revolution in the way that business is being viewed by government, staff, customers and the community they operate in, moving from the traditional profit driven model towards transforming into a purpose driven model.
Increasingly businesses both established and startups are focusing on becoming good corporate citizens with clear visions and aligned values demonstrating social and environmental responsibility underpinned by strong governance. This focus has manifested itself in businesses creating Environmental Social Governance (ESG) programmes, with outline considerations below.
Overall, the objective is to create an ESG programme with activity to help transform and grow the business. Elements of the plan can be used in sales opportunities, improve colleague retention, attract the best to the business, provide valuable PR opportunities, get recognition through awards. The embedded plan should be considered as a springboard to develop over a longer period. Businesses could also as part of the ESG programme look to become accredited ISO or B Corp.
Environmental
There is strong if not compelling evidence that global climate change is being driven by human activity which is disproportionately affecting poorer nations. Businesses are under pressure to reduce their environmental impact through carbon reduction strategies, manging pollution levels, utilising resources more effectively and sustainably.
Social .
This element of ESG covers the relationships a business has with its colleagues, customers, suppliers, and the community the business operates in. Equality, Diversity and Inclusion (EDI) is core to this which underpins the business attitude towards employment practices, human rights and how the engage with community. This aspect of ESG is crucial as it directly affects the company’s reputation, ability to operational efficiency and effectively with the ability to attract and retain valued colleagues.
Governance.
A definition of good business governance can be described as a framework of policies, processes, structures, laws, and societal norms which shape the way the business interacts with all its stakeholders. These should be ethically driven, transparent, reviewed on a regular basis, well communicated both inside and outside the business, aligned to the culture and values of the business.
How can we help
- Review and agree strategic goals with timelines in line with ESG considerations
- Undertake an integrated ESG audit by
- engaging with key colleagues to establish what activity is underway with evidence through meetings and conversations
- reviewing vision, values and culture in line ESG requirements and aspirations
- identifying quick wins and longer-term goals
- evaluating existing policies and procedures along with identifying governance gaps
- preparing a board presentation in association with business sponsor
- Plan creation and communication
- presenting conclusions and recommendations to senior leaders for approval
- create core operational internal team (HR, finance, operations, marketing, communications) to bring programme to life
- develop programme of activity and presenting to colleagues on a regular basis