5 key benefits of ESG for business

There are definitely far more than 5 benefits to implement an environmental, social and governance strategy within your organisation. Let’s start by considering few key areas first.

1. Environmental Impact: major and minor changes should be considered as part of the overall sustainability strategy. Do not overlook small changes. They can have a cumulative positive effect in the long-term.

2. Good governance, ethics, and compliance: be transparent about your business policies and decisions and do not be afraid to say where you need to make improvements. Small progress is far better than denial or no progress at all.

3. Don’t forget to have a comprehensive policy on diversity, equity and inclusion (DE&I) in hiring and promoting your employees: build a retainable workforce based on representing different backgrounds, abilities, ethnicities, ages and gender identities. Encourage and support flexible working arrangements and create a collaborative culture to attract and retain talent.  

4. Engage with and support your local community: donate to local charities, offer volunteer days for employees and have a programme of mentorship. Do offer your expertise to encourage people from lower socio-economic background to enter and progress into the job market. Prioritise suppliers who have the same ethical approach to business.

5. Communicate your progress via ESG reporting: have metrics in place to show where you are at and where you want to be. Share this information on your website, social media channels, your proposals and job postings.

Small and medium enterprises do not have the resources to tackle all issues at one. Prioritise on key areas and embed a culture of sustainability within your company.

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