The global pandemic added another spotlight on the value of environmental, social, and corporate governance considerations. As risks intensify and opportunities accelerate, companies need to better see what matters. The rising prominence of ESG international policies and its set of criteria, provide guidance and motivation to dig deeper into companies’ strengths and weaknesses to take meaningful action. And this time it’s for real: the sooner the better.
SET YOUR BASELINE
Have a check on your present material sustainability factors within business operations, product life circle, company structure, and unique value proposition. Challenge yourself to do it with an overarching view across your entire value chain.
PUT ON YOUR FORWARD-LOOKING GLASSES
Companies are looking to dig deeper into their strengths and weaknesses to take meaningful actions. Consider the impact of ESG-risk as well as sustainability opportunities on medium-long term planning, and investment strategies. Use a scenario analysis. Focus on the macros it’s a good starting point.
FALL IN LOVE WITH THE NEW OPPORTUNITIES
There are. Just ask yourself what could be done differently to better align with these engaging goals. Ask the people around you to do the same. Have a look into your Company processes and choices; you’ll see plenty of new opportunities. If in doubt on which could be the ESG societal goals to address as a priority in your company, have an Executive brainstorming meeting on the UN Agenda 2030. An independent ESG Executive Coach may certainly help to speed up setting the ground.
SET CLEAR TARGETS. AND PUT A DATE NEXT EACH ONE
Early buy-in by Top executives on an ESG strategy allows taking into account – from the very scratch – both the big scene and the numbers. Get the best out of it, set robust and data-driven targets. Choose targets that will demonstrate from their roots your true commitment and a medium to long-term vision.
MEASURE, REPORT, ENGAGE
Be passionate in defining the results of your actions. Set a clear ESG track recording process. Communicate and report ESG periodical performances inside and outside your Company. That will help to outline the efforts made and visible the achievements to the entire list of your stakeholders, not just the decision-makers and financial identities but customers, suppliers, employees, local community representatives, and institutions.