ESG – ENVIRONMENTAL & SOCIAL GOVERNANCE
Environment, social, governance (ESG) is the measurement of the impact, both positive and negative that a business has on the environment and on society, including, an assessment of the governance practices that impact all stakeholders, which include shareholders.
Panoptic Consultancy Group works with our clients from the very foundations of your organisations ESG strategy, through to its implementation. Our dedicated consultants work with your business to ensure goals and KPI’s align to the capabilities of the business, with a strategic and pragmatic approach to continuous service improvement year on year.
ESG’s strategies are tailored to your industry, with a wide range of tools and methodologies to support implementation. An example of this can be found through sustainable development goals set under ISO 14001.
Environment assesses the impact a business has on the natural environment and should include the impact from the production, use, transportation and disposal of a business’s products or services.
ENVIRONMENT SHOULD INCLUDE ASSESSMENT OF:
Natural resources sourcing, use, management and conservation.
Impact on biodiversity and the treatment of animals.
Air pollution – especially greenhouse gas (GHG) emissions and carbon footprint.
Waste management and discharges to land and water.
The use of toxic chemicals and the management of hazardous waste.
Energy use and conservation.
Environmental risks and how well those risks are managed.
Compliance with environmental regulations.
Social assesses the impact a business has on society and the relationships it has with its stakeholders including employees, consumers, suppliers, and the communities in which they operate.
SOCIAL SHOULD INCLUDE ASSESSMENT OF:
Respect for and observance of human rights.
Working conditions and fair labour practices – including those of suppliers and the supply chain.
Hiring practices, employee engagement, equal opportunity, gender, diversity, and inclusion.
Occupational health and safety management.
Community relations, initiatives, and engagement.
Social risks and how well they are managed.
Social license to operate (SLO) and meeting the expectations placed on a business for societal acceptance.
Governance assesses how well a business is governed, the composition and transparency of its Board of Directors and the degree to which governance practices identify, manage, and mitigate the environmental and social impacts of a business.
GOVERNANCE SHOULD INCLUDE ASSESSMENT OF:
Board structure, diversity, and independence.
Executive selection (including conflict of interest), committees, and compensation.
Board transparency and shareholder rights.
Board understanding of and commitment to ESG.
Corporate codes of conduct, business ethics and values (including bribery, fraud and corruption).
Lobbying and political contributions.
Data protection, privacy, and security.
Corporate risk management and how well risks are managed.
Compliance with financial regulations, accounting standards, and disclosure requirements.
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