ESG is the new CSR, and everyone is talking about it; or are they?
Depending upon who you speak to will depend upon the importance of ESG within a business strategy. In a magazine just this week, there were two conflicting articles on the importance of ESG; one for and one against.
Wherever you are in your own business strategic thought process, ESG is here and is coming to a meeting near you…So, we think it’s best for your business to get ahead.
With ESG being fuelled by investors, particular the “E” in ESG and Boris Johnson stating loudly and proudly at COP26 that businesses have a vital role to play in improving the planet, it can’t just be left to the Government.
This, combined with an increase in regulatory and mandatory disclosures which are already in force for any company in the UK that has an annual turnover of more than £500m and has more than 500 employees. The Task Force for Financial Disclosures or TCFD for short, will soon start filtering its way down the supply chain, from Banks to Construction, Logistics to Pharmaceutical if you’re in the supply chain are you ready?
Well, we are but we still have a long way to go. The best thing is, we can also help you get ready. Just ask…
The biggest hurdle to any of this is knowing where to start. You can go down a rabbit hole trying to measure your carbon footprint, to offset or not offset that is the question and where exactly are you with your gender pay gap???
Corporate Minefield!!!!!
We started at the beginning, with a benchmark of ‘Where are we now?’, many businesses like ABL are doing a lot of activities that directly impact upon ESG factors but are not shouting about them or measuring them.
The key to any of this is measuring the IMPACT, otherwise what is the point?
So, we started by benchmarking our current position with this data we could then discuss as a team where we wanted to be, what impact we wanted to make and which areas were important to us as a business.
Keep a lookout for our progress, what impact we make to our ESG targets and the UN Sustainable Development Goals Overall.