Over the past couple of weeks we have started to see more and more reports of courts in various countries ruling that the governments in that country have to do more to prevent further climate change. The latest of these was the International Court of Justice confirming that they are preparing an advisory opinion that could be cited in climate court cases. Read more here.
This is clearly good news and seems to represent a step-change [CH1] in the fight against climate change. However, until legislation is in place, the business community must act now and take the steps needed to help prevent future chaos.
This is clearly the “right” thing to do, but more importantly it makes business sense. The majority of businesses have long taken the view that to become socially responsible and meet the growing ESG (Environment, Social, Governance) demands is a cost that cannot be justified. This is no longer the case and there are a number of fundamental reasons for all businesses to put ESG at the heart of their business;
- Consumers are increasingly making purchase decisions based on the ESG credentials of a brand
- A business without an ESG strategy will find it harder to recruit as people look for a better workplace environment
- Working with like minded businesses can save money and reduce your costs
- Without an ESG strategy and reporting in place your business will be excluded in tendering for many larger contracts
Increasingly the “E” (Environment) element is getting a higher profile and so it should. This is the next global disaster that will be bigger than COVID if we don’t do something now. However, it also has an impact on the other elements of ESG and will directly impact both the social impact and governance, so it just makes sense, both business and common, to act now.
It may seem a massive task, especially for a well established business to make this change, but it doesn’t have to be and there are many tools and training available that can help your business. Have a look at www.csr-accreditation.com to understand more.
If you would like to discuss how to go about developing your ESG strategy please get I touch.