What are the key considerations for developing an Environmental, Social and Governance (ESG) strategy? There are a lot of sustainability disclosure standards, like the IFRS Sustainability Disclosure Standards, European Sustainability Reporting Standards (ESRS), and the EU’s Corporate Sustainability Reporting Directive (CSRD). In South Africa, we also have various reporting guidelines, specifically from JSE and IoDSA’s King IV. How do we make sense of this all and decide on what is relevant for your business? Let’s take a look at some questions that can help guide you on developing an ESG reporting strategy based on guidelines that are relevant to your business. 1. Location and operational footprint: Every country should have its own ESG reporting standards. You also need to consider where else you are operational. Your clients may expect you to have disclosure standards for ESG reporting guidelines in the markets that you serve / operate in. 2. Nature of the business: Resource use intensity, carbon footprint, water-use intensity, waste generation intensity. These are ESG material factors that require monitoring and measurement systems to report on metrics that indicate the company’s performance in managing these aspects of the business. 3. Size of the business: The number of employees, customers, market size, partnerships and general stakeholders involved in the business will all place a greater expectation to develop an ESG strategy using a specific standard. The strategy will have to incorporate the social investment component, both ‘internally’ show how the business looks after its own people, and ‘externally’ showing how the business invests in the community. 4. Risk management: Specific sectors are susceptible to greater risk. I.e. agricultural companies are having to deal with extreme weather events, drought and crop disease. A risk analysis will reveal a risk profile for the business which will translate into a reporting system that records risk-related events. This is crucial information for stakeholders to know. Book a consultation with us to point you in the right direction for developing an ESG strategy that is relevant to your business and sets you up to comply with the most appropriate ESG standards. Get in touch: [email protected]
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ESG Consulting Navigate the path to Sustainable Financial Practices Embark on a journey towards sustainable financial practices with our ESG consulting services. Environmental, Social, and Governance considerations are no longer optional — they are the compass guiding businesses toward responsible and impactful financial strategies. HOW WE GUIDE YOU Environmental Practices From eco-friendly initiatives to renewable energy solutions, we help integrate environmentally responsible practices into your business model. Social Responsibility Foster positive social impact through community engagement programs, ethical labor practices, and initiatives that contribute to the greater good. Governance Strategies Establish transparent and ethical governance frameworks, ensuring accountability and compliance with international standards. WHY CHOOSE ESG CONSULTING/ BENEFITS FOR CLIENTS Strategic Alignment Align your business with global sustainability goals and industry best practices. Enhanced Reputation Demonstrate a commitment to environmental and social responsibility, enhancing your brand image. Risk Mitigation Identify and mitigate potential risks associated with environmental, social, and governance issues. Operational Efficiency Streamline operations by integrating sustainable practices that optimize resource utilisation. Environmental, Social and Governance Consulting - Develop sustainable business practices. - ESG strategy formulation and implementation. Stakeholder Engagement - Build meaningful relationships with stakeholders. - Enhance transparency and accountability.
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SUSTAINABILITY INTEGRATION & ESG DISCLOSURES It was quite enlivening challenging participants in a MasterClass organised by UGANDA SECURITIES EXCHANGE to key persons among its stakeholders - among others National Social Security Fund, UGANDA SECURITIES EXCHANGE, Uganda Electricity Transmission Company Limited, Leaf Tobacco Africa, Lato Milk, uap old mutual financial services, etc. It was such a great time reviewing and combing through the global Sustainability/ ESG Standards and Frameworks for reporting purposes (focus; mandatory or voluntary; level of detail; target audience; etc). This included: the Global Reporting Initiative (GRI); the International Financial Reporting Standards (IFRS S1 & S2); the Sustainability Accounting Standards Board (SASB); the Carbon Disclosure Project (CDP); the Task Force on Climate-related Financial Disclosure (TCFD); the Corporate Sustainability Reporting Directive (EU CSRD); among others. Besides, we equally reviewed the Sustainability Frameworks in Uganda and East Africa. The ESG Disclosure and Reporting metrics, fundamentals and challenges. Stakeholder mapping and engagement for reporting purposes. Materiality analysis and assessment (financial materiality, impact materiality and double materiality) in various contexts. This was embellished with a clinical review of the material topics in the sustainability reports of selected listed and unlisted firms in East Africa. ESG Integration issues (fundamentals, challenges, etc). How can we develop sustainability reports that speak to our material internal and external stakeholders (balanced, accurate, clear, etc)?
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Why does BRSR reporting in India require specialized ESG consulting? Click on the link to know. https://lnkd.in/d9kN-Vtt #sustainability #ESG #esgconsulting Dhaval Shah Prakhar Gupta
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📢 The Transparency Revolution: A Guide to the Corporate Sustainability Reporting Directive (CSRD) The CSRD is here to transform how businesses report on their environmental, social, and governance (ESG) impacts, making sustainability data more transparent and comparable. 🌍 🔑 Key Takeaways: Wider Reach: The CSRD now affects over 50,000 companies across the EU, including listed SMEs and non-EU firms with significant operations in Europe. Double Materiality: Companies must report on how their activities impact society and the environment, and how ESG risks affect their business stability. Mandatory Verification: ESG reports will need independent third-party verification to ensure transparency and reliability. Why is this important for SMEs? 🌱 1️⃣ Stay Competitive: SMEs must align with the new standards to remain compliant and credible in the eyes of investors and regulators. 2️⃣ Risk Management: The CSRD helps businesses identify and mitigate ESG risks, reducing potential for financial penalties and reputational harm. 3️⃣ Boost Sustainability: This directive pushes companies to integrate sustainability into their core strategies, contributing to a more sustainable economy. With the CSRD’s 2024 rollout fast approaching, now’s the time for businesses to get ready by understanding the requirements and optimizing their ESG reporting systems. 🤔 What should we, as Board NEDs and Advisors, consider? 1 - How prepared is our company to meet the stricter ESG reporting requirements of the CSRD? 2 - What steps are we taking to ensure your ESG data is verified and meets double materiality standards? 3 - How will our business adapt to the increased demand for transparency and comparability in sustainability reporting? If of interest, Share your thoughts and strategies below in the comments, thanks!
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ESG (Environmental, Social, and Governance) is important in business for several reasons: Register for our upcoming Virtual ESG Training using this link: https://lnkd.in/dyF7Rebm 1. Sustainability and Risk Management: ESG practices help businesses manage risks associated with environmental impacts, social issues, and governance practices. By addressing these areas, companies can avoid potential legal troubles, reputational damage, and operational disruptions. 2. Investor Attraction: Investors increasingly prioritize ESG criteria when making investment decisions. Companies with strong ESG performance are more likely to attract investment from socially conscious investors and funds. 3. Regulatory Compliance: Many governments and regulatory bodies are implementing stricter ESG-related regulations. Companies adhering to ESG standards are better prepared to comply with these regulations, avoiding penalties and enhancing their market position. 4. Reputation and Brand Value: Companies committed to ESG principles tend to build better reputations and stronger brand loyalty. Consumers and stakeholders are more likely to support businesses that demonstrate a commitment to ethical practices and sustainability. 5. Operational Efficiency and Innovation: ESG initiatives often lead to more efficient use of resources, cost savings, and innovative business practices. For example, reducing waste and improving energy efficiency can lower operational costs. In summary, ESG is not just about doing good; it's about doing well. By integrating ESG principles into their operations, businesses can achieve sustainable growth, mitigate risks, and create long-term value for all stakeholders.
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Thrive with Bespoke Solutions | Your Experienced Advisor and Consulting Partner - Maximising Excellence and Governance. 17 years varied and specialised consulting experience in the Middle East.
ESG: what would be good to keep in mind: - Focus on Short-Term Wins vs. Long-Term Strategy: Consultants often recommend achievable goals to secure your business. While this gets you started, a strong ESG strategy needs a long-term vision that goes beyond quick wins. - Cost vs. Impact: Consultants may not delve deeply into the cost-benefit analysis of every recommendation. It's important to understand the financial implications of ESG initiatives and weigh them against the potential impact. - Standardization vs. Industry Specificity: There's a tendency to present a one-size-fits-all approach. However, best ESG practices can vary depending on your industry. Make sure the consultant considers your unique industry context. - Consultancy Expertise vs. Independent Verification: Consultants often specialize in specific areas of ESG. While valuable, independent verification ensures a well-rounded assessment across all ESG factors. - Greenwashing vs. Genuine Improvement: Consultants might sugarcoat progress to maintain a positive client relationship. Be wary of reports that focus on accomplishments without acknowledging areas for improvement.
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Did you know an Environmental and Social Management system (ESMS) can bring a significant change to your company's Environment, Social, and Government (ESG) journey? Imagine turning complex challenges into strategic gains with just one system that is properly developed and implemented. 🌍 Understanding Risks: • ESMS maps out environmental hazards and social risks. • Identifies issues like environmental issues, supply chain vulnerabilities, community impacts, and resource inefficiencies. 📜 Compliance Made Easy: • Keeps track of changing laws and standards globally. • Helps align operations with environmental and social regulations. 🔍 Insightful Analysis: • Transforms complicated data into useful information. • Helps in foreseeing and avoiding potential legal and reputational pitfalls. 🔄 Sustainable Decision-Making: • Guides eco-friendly and socially responsible choices. • This leads to projects that respect both nature and people. 🌟 Enhancing Reputation: • Boosts the company's image as a responsible business. • Attracts eco-conscious customers and investors. 📈 Boosts Investor Confidence: • Demonstrates commitment to ESG. • Shows readiness for future sustainability challenges. Have you leveraged ESMS in your organization? How did it transform your approach to ESG risks and compliance? Share your experiences and let's learn from each other!
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ESG (Environmental, Social, and Governance) is important in business for several reasons: Register for our Virtual ESG Training using the link below: https://lnkd.in/dFUU8tFt 1. Sustainability and Risk Management: ESG practices help businesses manage risks associated with environmental impacts, social issues, and governance practices. By addressing these areas, companies avoid potential legal troubles, reputational damage, and operational disruptions. 2. Investor Attraction: Investors increasingly prioritize ESG criteria when making investment decisions. Companies with strong ESG performance are more likely to attract investment from socially conscious investors and funds. 3. Regulatory Compliance: Many governments and regulatory bodies are implementing stricter ESG-related regulations. Companies adhering to ESG standards are better prepared to comply with these regulations, avoiding penalties and enhancing their market position. 4. Reputation and Brand Value: Companies committed to ESG principles tend to build better reputations and stronger brand loyalty. Consumers and stakeholders are more likely to support businesses that demonstrate a commitment to ethical practices and sustainability. 5. Operational Efficiency and Innovation: ESG initiatives often lead to more efficient use of resources, cost savings, and innovative business practices. For example, reducing waste and improving energy efficiency can lower operational costs. In summary, ESG is not just about doing good; it's about doing well. By integrating ESG principles into their operations, businesses can achieve sustainable growth, mitigate risks, and create long-term value for all stakeholders.
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Corporate Maintenance & Utility Head/EHS/Engineering Projects/ Green Field & Brown Field, ESG & Sustainability
BRSR and BRSR Core BRSR stands for Business Responsibility and Sustainability Reporting, and BRSR Core is a subset of the BRSR framework that requires companies to report on their Environmental, Social, and Governance (ESG) performance. BRSR Core is a more stringent approach to sustainability reporting than BRSR, as it requires companies to get third-party assurance that their disclosures are accurate. Here are some key differences between BRSR and BRSR Core: Reporting requirements BRSR is a comprehensive framework that covers a wide range of sustainability topics, while BRSR Core is a subset that focuses on a set of key performance indicators (KPIs) under nine ESG attributes. Assurance BRSR Core requires companies to get third-party assurance that their disclosures are accurate, which enhances investor confidence. Reporting entities The top 150 companies in India by market capitalization are required to report in the BRSR Core format from FY 2023–24. This will gradually increase to 1,000 companies by FY 2026–27. Value chain reporting The top 250 listed companies will be required to disclose the ESG footprint of their value chain from FY 2024–25
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Environmental Sustainability & ESG Expert | 9+ Years in GHG Emissions, Sustainability Reporting, Decarbonization, Carbon Accounting, Water Neutrality, Zero Waste, Scope 3 Inventorization | ESG Performance Improvement
BRSR and BRSR Core BRSR stands for Business Responsibility and Sustainability Reporting, and BRSR Core is a subset of the BRSR framework that requires companies to report on their Environmental, Social, and Governance (ESG) performance. BRSR Core is a more stringent approach to sustainability reporting than BRSR, as it requires companies to get third-party assurance that their disclosures are accurate. Here are some key differences between BRSR and BRSR Core: Reporting requirements BRSR is a comprehensive framework that covers a wide range of sustainability topics, while BRSR Core is a subset that focuses on a set of key performance indicators (KPIs) under nine ESG attributes. Assurance BRSR Core requires companies to get third-party assurance that their disclosures are accurate, which enhances investor confidence. Reporting entities The top 150 companies in India by market capitalization are required to report in the BRSR Core format from FY 2023–24. This will gradually increase to 1,000 companies by FY 2026–27. Value chain reporting The top 250 listed companies will be required to disclose the ESG footprint of their value chain from FY 2024–25