LEARNYOURESGs

Thereisanew threeletter acronym in town. Clive Allcott explains what it means

Inmost conversations that Iseem to have at themoment with other suppliers or distributorsthere is a mentionofESG,whichstandsfor Environmental, Social andGovernance. So what is ESG andwhy hasitbecomea major topicina relatively short period of time? Or hasit?

By thelast comment, I’mwondering if maybe we have all been operating in this wayasbusinesses overthe past years, but operate your work. One that sets just didn’t brand or pigeonhole it as ESG. So,what is it? In short it would be best described as People, Planet and Profit and what youasabusiness owner or a companydoinall these sectors as you operateyour daily work.One thing that sets it apart from thecredible standards of ISO and theSmetaAudits from Sedex, is that this is more about business cultureortone of howand what youasacompanyor individual stand for.

The Eisfocused around thewhat and how youinteract withthe environment, what initiativesand focus youhaveon sustainability, recycling processes, climate risk,and energy efficiency. This is not just at alocal level but on aglobalfront and how and whyyou work withyour supply chain.

S is foryour social awareness, for those that work withyou or have touch points withyour business suchasthe local communityand worthwhile causes. Whether it be assisted transportation to help getting to work,gardening clubs or maybe costprice canteens or donut Thursdays they all showthe business cares. It covers topics suchasequal opportunities, inclusion and diversity, working conditions, training, healthand safety, manyofwhichyou probably currently deliver.

Then thereisthe Gingovernance, the profits and howand what theowners or stakeholders do withthem –it’sall about business ethics and shareholder democracy. In all honestyifthe governance of the profits fail then theE and theS will be difficult to administer

In summary, ESGcreates abetter workplace wherethe Planet and thePeople come first.

HappySelling

Clive theclothing and bagguru.