HCM Issue 8 2021

Page 56

P ol i cy

The Harvard Business Review found that companies are being held accountable by shareholders for ESG performance, with an ever-growing number of environmental and social shareholder resolutions being filed. Climate Action 100+, which includes more than 320 investors (representing US$32tr under investment), is lobbying the largest greenhouse gas emitters to address climate change and set targets to cut emissions. Mark Carney, the former governor of the Bank of England, is now the United Nations envoy for climate action and finance, tasked with persuading policymakers, CEOs, bankers and investors to focus on the environment. Developing standards and reliable systems to measure ESG performance will become more common as external reporting becomes accepted practice.

The trend of young people heading outdoors is them signalling their attitudes, says Minton

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Issue 8 2021 ©Cybertrek 2021

What’s happening in the sector? The UK Streamlined Energy and Carbon Reporting (SECR) Regulations came into force in April 2019 replacing the Carbon Reduction Commitment energy efficiency scheme and health and fitness operators are taking steps to improve their performance. The only listed fitness company on the London Stock Exchange is The Gym Group. With over 180 sites, its ESG policies are important and explained in its annual report, along with a case study on its first low-carbon gym at Beverley in Yorkshire, where an air-sourced heat pump removes the need for a gas supply, while air conditioning, lighting and water are on sensors to improve efficiency. Where the company controls the electricity supply, it has a green contract for all sites.