ESG and sustainability are now business imperatives that add value. Real leaders take sustainability seriously.
ESG regulations already apply in more than 80 jurisdictions
More than 800 authorities have already implemented ESG reporting obligations in more than 80 jurisdictions, and those numbers are rapidly growing. The time to get focused is now.
There are over 2,700 regulations already in place globally that require over 100 subject areas to be reported on, ranging from labour issues in one country through to carbon reporting in another. The areas are extremely broad and cover a significant part of business.
Reporting may seem challenging, but the larger concern lies in effectively collating the necessary data across your company.
ESG and sustainability is a revenue opportunity, not a cost centre
A recent study by IBM found that 76% of respondents said that ESG is central to their business strategy.
The same study showed that 72% of respondents were approaching ESG as a revenue opportunity rather than a cost centre, and 52% of respondents were more likely to report that ESG efforts have ‘a very great’ impact on profitability.
This study and many others like it show the unique opportunity for companies to leverage ESG and drive profitability.
The vast majority of companies lack the data to even consider ESG and sustainability reporting
The IBM study found that almost half of responders identified inadequate data as their organisation’s biggest challenge to advancing its ESG agenda.
Almost three quarters cited an overload of manual data as a challenge, and 70% reported difficulty consolidating or manipulating data as their challenge.
These challenges, combined with the fact that another 70% cited poor transparency in data calculations and 69% reported difficulty in mapping data across brands and geographies, means that without a clear ESG strategy it will be virtually impossible to report ESG to regulators.
Why focus on ESG and sustainability?
Prevent a crisis
ESG is made up of around 20 different areas. The more you identify those areas, understand them and manage them, the less likely it is that an issue will become a crisis. ESG is risk management at its best.
It is (or will be) the law
If you are not already reporting some aspect of your ESG metrics and results, you will be soon. The ever-increasing reporting requirements and regulatory oversight already cover over 2,000 requirements in more than 80 countries.
There is a large body of evidence that shows that companies that manage ESG well produce greater returns. ESG makes financial sense, creating more customer engagement, more interest from investors, and more opportunities for cost controls.
With a large number of issues falling into ESG and increased oversight by the media, the community and regulators, it is only going to be a matter of time before there is a failure that leads to costly repairs and fines. Building ESG is preventing failures in risk.
Save the planet
Every company and every individual has a role to play in rebuilding and repairing the planet. It is clear that companies that have a strong ESG programme are building their principles on climate change and sustainability.
Reduce turnover of staff
All employees want to work in a safe, equitable workplace that is free from harassment, discrimination and unfair practices. Expectations from new generations of workers are high and the success of developing and maintaining a workplace are part of that future success.
Do you want to be a leader or a laggard in ESG and sustainability?
In today’s business world reactive risk management is no longer a viable strategy – by the time you detect a serious issue, the damage to your business and stakeholder group is usually extensive. Speeki gives you a new set of predictive tools, allowing you to be proactive in your risk management and solving issues as they emerge.
ESG and sustainability are not one function – it takes a group to leverage great ESG and get value for stakeholders
See how customers across a range of business areas are using Speeki to deliver next-generation ESG risk management solutions.
Move beyond box-ticking to value creation
Supercharge your ESG initiatives and keep protecting your brand
Companies succeed at ESG because of their people
Manage risk and regulatory oversight and avoid fines
Data is the new oil – transform ESG information into ESG solutions
For supply chain
Achieve supply chain resiliency amid interruptions