Getting started with ESG might be easier than you think

People Directors, Adele MacDonald and Conal Scholes share their thoughts on getting started with ESG in your business – and how you may already be further ahead than you might think.

Getting started with ESG might be easier than you think

Environmental, Social and Governance (ESG) is a wide-ranging and often complex subject. So complex, in fact, that many of the businesses we hear from don’t really know where to start. While many businesses do have a robust ESG strategy in place, for many others it’s a challenge that never quite gets to the top of the priority list.

With regulations for ESG compliance set to change in the coming years to incorporate more and more businesses, it’s essential for every business to address ESG, and the sooner you make a start the better. But it’s important not to get too bogged down in the detail, as it can feel overwhelming at first – this is a process of continuous improvement so don’t wait until you have all the answers before you start.

In fact, you’ve probably already started

The good news is that you are probably already doing more than you think. As the video above explains, there are many aspects which fall within ESG and chances are, you’ve already started on some of them.
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There are countless reasons for developing a robust ESG strategy at your business, including (but not limited to):
– Employer brand proposition enhancement
– Talent attraction, engagement and retention
– Creating a fairer, more diverse, more inclusive culture
– Providing more opportunities for a broader cross-section of society
– Reduced overheads and wastage
– Enhanced risk profile
– Attractiveness to investors
– A unifying and motivating sense of purpose
– Regulatory compliance
– Avoiding reputation damage
– Doing the right thing
– Investing in the sustainable future of your business, the planet and everyone on it.

For a more in-depth look at the benefits of ESG for your business, check out these recent articles:

– Why ESG can be a competitive advantage for smaller and mid-tier businesses
– The ripple effect of a strong ESG policy on recruitment and retention
– The triple impact of people, planet and purpose for SMEs

Progress over perfection

Nobody has all the answers when it comes to ESG. Whether considering environmental impact or social sustainability, the landscape of ESG is constantly shifting, and that goes for regulatory compliance as well.

What is most important is to tackle it head on, to establish where you’re currently at and where you would like to be, and put some plans in place to make a start. Intention and action are really important when it comes to ESG so making a start and documenting your progress is key.
External perspective can be extremely beneficial as few businesses have the internal expertise or capacity to give ESG the focus it needs. We have noticed a surge in interest in this area in recent months as more businesses realise the importance of ESG not just from a commercial or compliance perspective, but also for environmental and societal purpose.

Step 1: Seek external help
Step 2: Get a sense of where you’re at
Step 3: Formulate a plan
Step 4: Start putting that plan into action
Step 5: Celebrate the wins, and always ask “what’s next?”

If you could do with a sounding board, a guiding hand or just full scale ESG strategy toolkit, please get in touch for a complimentary consultation call. Getting started is so much easier when you have someone by your side to guide you through the process.