Kicking off an ESG initiative is not dissimilar to introducing other initiatives across your company. The focus should be on proving ESG’s value to the organisation. That value could be returned in the form of financial value, brand value, employee value, direct value to customers, or a combination of these. There are a number of value propositions that might be relevant to your company and it is important that you assess all of these and pick the right ones. Use as many as you can to cover as many definitions of value that you can identify.
Like most companies, the value proposition needs to be in ‘real’ terms and focus, wherever possible, on the financial gains of the initiative. This can be hard in the short term, but it is important to try and predict some direct financial returns. To gather support from the business, some research might need to be done in the industry and in other companies. Finding published information and building on it is a great way to prove that value gains are possible and is far better than relying on your gut feel or a well-intentioned hope.
The next major focus should be determining some initial champions and gaining buy-in from executives. It is important to lock these down before you start to build any investment request.
Our guide provides some key areas for you to consider when kicking off an ESG programme.
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