So how do you create your own ESG roadmap and put it into action?

“It’s clear that a focus on ESG considerations will not only enhance your approach to managing risk exposures in your business, but when supported by clear and authentic evidence of what you’re doing, -it can drive long term growth too.  It will give you access to certain audiences, and will get you aligned to regulatory frameworks, as well as on preferred supplier lists and can positively impact your bottom line through long term cost savings. – Nick Hunt, Chief Strategy and Impact Officer– Elephants Child.

Five ways to start your ESG journey:

  1. It doesn’t have to be complicated or perfect as long as you’re open, set targets and show what you’re doing. Transparency is key.
  2. Aim for continuous improvement by reviewing your progress every year and by telling that story to your internal and external stakeholders.
  3. People value what they can touch and see more than big numbers. In other words, focus on what you’re doing, not just on global problems.
  4. Use global standards and frameworks for credibility and to demonstrate you’re making progress.
  5. Have a clear understanding of why sustainability matters to your business and make it about your product or service. This is most important of all.

Why implement an ESG strategy now?

  • In some professional services there is a different tariff depending on whether you’re an ESG-focused business or not.
  • It will increase productivity. Happy people that want to do work for the right reasons inevitably drives up productivity. An ESG focus also helps your business to attract and retain talent in a difficult labour market
  • Much development around ESG considerations has been driven by regulation and legislation therefore, if you act now, you’re going to create greater freedom for yourself to operate going forward – don’t wait and risk someone dictating what you do.
  • Subsidies and tax levies will be another area of risk and opportunity and another potential cost that can be navigated around more effectively with the right plans and processes in place
  • ESG is driving business valuation. During the process of due diligence, private equity investors will attach a value to a compelling and credible ESG story backed up by evidence of action, and how that is driving your business resilience and sustainability going forward.
  • ESG is driving access to funding – some funding applications with major lenders or major clearing banks are not moving because the ESG lending criteria are not being met.

How can Elephants Child help?

They have developed a roadmap to help you understand where you are in terms of your ESG ratings and how you can move forward in a way that is affordable and accessible.

Firstly, a baseline audit of your business scores and ranks each of the ESG elements. Then a materiality study examines the most important sustainability issues for your business both now and in the future, and which of those are the most impactful for your stakeholders. This foundational work provides the basis for a comprehensive ESG strategy which can be fully integrated into your holistic business planning and strategy – the core competence at Elephants Child. What you do as a responsible business, with the environment, social purpose and governance at the heart of your thinking, will drive performance and drive culture, creating a resilient, sustainable and valuable growth business that thrives for years to come.

They can also lead a further bespoke consultation piece depending on your business ambitions, which can include support to achieve globally leading accreditations such as the B Corporation certification.

For more information, please go to Elephants Child dedicated ESG page ESG – Elephants Child (elephants-child.co.uk) or contact Nick Hunt directly: n.hunt@elephants-child.co.uk

Explore more

Discovery call

Ready to chat? We’d love to hear how you’re doing and see where we can help

Book a call directly

or if you would prefer to contact us

Contact Form