Some businesses are just learning how to manage their environmental, social, and corporate governance (ESG) risks, while others are light-years ahead, creating a competitive gap that seems to grow more significant by the day. Companies that have well-defined ESG programs are using them strategically to lower costs, get ahead of impending regulations, create long-term value, and attract new customers and investors. But how do companies that are just getting started catch up to peers and gain the knowledge they need to improve their own ESG performance?
Having a serious and thoughtful approach to ESG means companies should not only look within to reinforce their ESG performance, but also look outwards at what their competition is doing. Studying market trends and competitive movements is a common practice in business, so why not incorporate this into your ESG strategy?
A corporate value system must be established that places an emphasis on ESG and corporate responsibility. Once this foundation is laid, it is time to identify sustainability objectives and investigate how to meet these targets. However, only looking for ESG solutions internally may prevent companies from seeing opportunities that lie in plain sight.
– Advantages of Focusing on Your ESG Performance
– Impact on Financial Performance
– Reduction of Operational Costs
– Addressing Regulatory Risks
– Benchmark Performance
– Find out Where Your Gaps