An item quickly rising high up on most business’ agenda, ESG stands for Environment, Social and Governance.
These three parameters are used to measure the sustainability and ethical impact of a business - and ultimately aimed at building a more viable future. But what is ESG?
Workplace ESG strategy
An ESG strategy is a company wide approach aimed at minimising negative environmental impact, while supporting positive social & societal change.
What are the key principles of ESG?
1. E for Environmental
This factor takes into account the carbon footprint of a business and the impact it has on the environment, from energy usage to waste produced and carbon emissions.
2. S for Social
The social element of ESG evaluates the internal and external relationships of a business, taking into account its employees, clients, community and industry. Fostering inclusion and diversity falls within this category.
3. Governance
Every company requires a governance structure. This is the system of processes and procedures it uses to provide its services and interact with its stakeholders.
What are the benefits of a solid ESG strategy? Read our article to find out.