If you do not currently have an ESG strategy, GEP Environmental can help you to develop a bespoke strategy the reflects your sustainability vision. GEP Environmental has delivered ESG strategies to a broad range of public and private sector clients across a range of industries within the UK, offering technical advice and expert guidance on developing and embracing your ESG strategy.
What are the benefits of ESG?
Adopting a proactive ESG strategy that is aligned with your corporate objectives demonstrates to your consumers that sustainability, of all aspects, is important to your organisation. A gradual shift in focus from social, governmental, and consumer attention on the broader impact of organisations has led to an increased emphasis on the actions organisations are undertaking to deliver on sustainability, as well as a higher level of accountability for organisations to report to. A well-developed ESG strategy can provide you with a competitive advantage by meeting pre-tender and contractual requirements while highlighting a responsible approach to climate change, stakeholder wellbeing and governance requirements.
A strong ESG strategy also correlates with an increase in cost savings through improved process efficiencies to combat rising operating costs. Better business performance demonstrated through a strong ESG strategy also corresponds with a reduction in risk, through the development of stronger risk identification and management processes, enabling your organisation to drive informed and effective planning practices. An ESG strategy can also align your organisation with the requirements for ISO 14001 and ISO 50001, providing an opportunity to gain external validation from an independent body for the organisation.
With improved risk management processes in place, a strong ESG strategy can relieve the regulatory pressure on organisations, enabling organisations to plan for, and action, future legislative requirements. An effective ESG strategy will enable your organisation to develop a strong foundation for establishing compliant policies and procedures that meet mandatory reporting and legislative requirements. This foundation will make recording and submitting performance data for requirements (where applicable) such as annual reports, the Energy Savings Opportunity Scheme (ESOS) and Streamlined Energy and Carbon Reporting (SECR) easier to monitor and manage. This reduces the risk of adverse governmental actions, such as fines and penalties for non-compliance, and potential reputational damage.
How can we help you?
GEP Environmental can help your organisation with developing your ESG strategy, regardless of your current position and performance. GEP Environmental can provide the following services to build an ESG strategy that is cohesive with your wider strategic direction:
- Supporting your organisation to develop an ESG Strategy tailored to your operations
- Assessing your current ESG Strategy to identify areas for improvement
- Establishing an ESG Strategy implementation plan to embed sustainability within your operations and workforce
- Create long-term objectives to monitor and deliver improvements across your organisation
- Identifying current and future risks to your organisation
- Independently verify all data reported to stakeholders
- Provide training to staff on the importance of ESG
- Advice on implementing ISO Management Systems
- Assistance with mandatory reporting requirements
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FAQs
The purpose of an ESG strategy is to ensure that the company has a plan for how it operates in a sustainable and responsible manner, considering not only financial performance but also the impact of its activities on society, the environment, and the impacts those activities have back on their business.
What is environmental, social, and governance ESG theory? ›
Environmental, social, and governance (ESG) is shorthand for an investing principle that prioritizes environmental issues, social issues, and corporate governance. Investing with ESG considerations is sometimes referred to as responsible investing or, in more proactive cases, impact investing.
What are environmental, social, and governance ESG values? ›
What Does ESG Mean for a Business? Adopting ESG principles means corporate strategy focuses on environment, social, and governance. This means taking measures to lower pollution, and CO2 output, and reduce waste. It also means having a diverse and inclusive workforce, at the entry level and the board of directors.
What is the ESG policy of environmental, social, and governance? ›
Environmental, social and governance (ESG) is a framework used to assess an organization's business practices and performance on various sustainability and ethical issues. It also provides a way to measure business risks and opportunities in those areas.
What is ESG in simple words? ›
ESG means using Environmental, Social and Governance factors to assess the sustainability of companies and countries. These three factors are seen as best embodying the three major challenges facing corporations and wider society, now encompassing climate change, human rights and adherence to laws.
What is ESG strategy examples? ›
ESG considerations could include reducing energy consumption (and associated costs), making your workforce and boardroom more diverse, and making customers aware of the sustainability of your goods and services.
What is the main goal of ESG? ›
ESG stands for environmental, social and governance. These are called pillars in ESG frameworks and represent the 3 main topic areas that companies are expected to report in. The goal of ESG is to capture all the non-financial risks and opportunities inherent to a company's day to day activities.
What is the best explanation of ESG? ›
What is ESG explained in simple terms? ESG stands for Environmental, Social, and Governance. It is a framework used to evaluate a company's sustainability and ethical impact.
What is an example of ESG governance? ›
Using independent, third party auditors and audits, cultivating a more diverse board of directors, implementing data protection measures, improving executive accountability, or drafting, updating, communicating, and training employees on important ESG policies are all examples of ESG governance in action.
What are the benefits of ESG environmental, social and governance? ›
ESG programs help businesses attract investors, build customer loyalty, improve financial performance, make operations sustainable and gain a competitive edge.
ESG is important because it helps identify and manage risks, improve social responsibility, enhance long-term sustainability, meet stakeholder expectations, navigate and comply with regulations, and improve access to capital.
What are the disadvantages of ESG? ›
One of the main disadvantages of ESG criteria is that companies are not required to disclose all information related to their sustainability practices. This can make it difficult for investors to evaluate the sustainability and ethical impact of investments.
What is the environment social and governance ESG strategy? ›
ESG focuses on various issues related to environmental, social and corporate governance practices. An ESG program documents a company's impact on the environment and on different stakeholders as well as its approach to governing business operations and employee actions.
Who is behind ESG? ›
It refers to a set of metrics used to measure an organization's environmental and social impact and has become increasingly important in investment decision-making over the years. But while the term ESG was first coined in 2004 by the United Nations Global Compact, the concept has been around for much longer.
What are ESG environmental social governance risks? ›
Common ESG risks include those related to climate change impact mitigation, environmental practices and duty of care. From a social and governance risk perspective, elements may include respect for human rights, anti-bribery and corruption practices, as well as compliance to relevant laws and regulations.
What is environmental social or governance ESG schemes? ›
ESG stands for environmental, social and governance and refers to a set of standards used to measure an organization's environmental and social impact. It's typically used in the context of investing, although it also applies to customers, suppliers, employees and the general public.
What is the ESG report for environmental social governance? ›
What is ESG reporting? ESG reporting is all about disclosing information covering an organisation's operations and risks in three areas: environmental stewardship, social responsibility, and corporate governance.
What is the ESG rating of environmental social governance? ›
ESG scores from LSEG are designed to transparently and objectively measure a company's relative ESG performance, commitment and effectiveness, based on company-reported data. This covers 10 main themes including emissions, environmental product innovation, human rights, shareholders and so on.
What are ESG metrics environmental, social, and governance? ›
When we talk about ESG metrics, we're really talking about performance measures or indicators of a company's performance on environmental (E), social (S), and governance (G) issues. They are similar to other business metrics in that they're used to assess a company's operating performance and risk.
