Environmental, Social and Corporate Governance
ESG for Companies
In the broadest terms, the elements of ESG can be described as follows:
Consider what a “new reality” economy would look like if everyone in the value chain were able to see real-time, verified ESG data on their own performance, their suppliers and counterparts.
- Manual ESG reporting is challenging because:
- Data is strewn across multiple businesses or kept in spreadsheets - Metrics for carbon, energy, waste, water and social indicators are captured from different sources, making them difficult to access in a consolidated way for reporting and decision making.
- Data quality is inconsistent and unreliable - Producing ESG reports requires confidence in the data to create value and make decisions. Consistency and comparability are essential elements of an effective data set.
- Time and labour intensive - The process to calculate energy, carbon emissions and waste data based on different factors, different reporting boundaries and calculation methods can be arduous.
We recognise that each company is at a different stage in their journey with a unique set of objectives. We take a hands-on approach to embed ESG into your existing systems and frameworks:
Quality Data and Acting on Data
- On the back of our well-established direct relationships with energy, waste and water providers across the UK, we work collaboratively with our clients to gather verifiable ESG data to be consistent, uniform and timely.
- We are also in the unique position delivering environmental services on the ground to be able to effect rapid change and deliver on ESG policies and strategies. This includes advising clients on the urgent steps they need to take to reduce carbon emissions and ultimately achieve carbon neutrality.
The Social Strategy
- The challenge exists in quantifying the ‘S’ in ESG – an area that requires more focus than it has received up to now. Socially minded investors are increasingly watching, listening and seeking more information about how companies are addressing social issues. Companies often either don’t do enough on this front or don’t know what to measure or how to measure it. Sustainable Advantage’s approach is to work with organisations to help drive their initiatives, capture their achievements and bring them to life in the annual Impact Report.
Regulation, Compliance and Strategy
- ESG Policy and Strategy creation
- Establish an ESG Steering Committee to implement the ESG strategy and benchmark progress against a set of quantifiable performance indicators