Comment: ESG can help a business grow its revenue, improve profitability, attract new...
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ESG can help a business grow its revenue, improve profitability, attract new investors and talent and build a stronger brand. As such, many executives are embracing ESG initiatives as a business driver worthy of investment. In fact, companies that aren’t developing ESG plans could find themselves at a competitive disadvantage.
These are only a few examples of how ESG is being recognized as an imperative. Stakeholders increasingly expect companies – especially those in carbon-intensive industries – to honor their climate and carbon-reduction commitments. In fact, in our survey, 58 percent of oil and gas executives said enhanced trust with stakeholders is a business benefit of ESG reporting.Define the strategy.
Tell your story. Clearly communicate your ESG vision. Develop a standard reporting process and encourage transparency so employees, customers, investors and other stakeholders can monitor ESG performance.Gathering the correct information can be difficult. Sometimes it may require collaboration across the business or even with others in the industry.
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