Whether we call it an Environmental, Social and Governance (ESG) approach or Corporate Social Responsibility (CSR), forward-thinking organizations recognize the need for coherent sustainability strategies that build reputation and trust.
The first wave of momentum around sustainability hit businesses over a decade ago but was largely treated as an optional area of focus rather than an obligation. In the past few years, the emphasis and commercial relevance of sustainability has become firmly embedded in strategic decision-making. Organizations across all sectors, public and private, now face a range of pressures internally and externally to improve their performance from an ESG perspective.
In addition, organizations taking a leading stance on sustainability are reaping the commercial benefits, such as increased business, workforce satisfaction and greater investor interest.
Faced with the task of tracking and reporting ESG performance, firms are experiencing challenges around data access and availability, particularly across their supply chains and disparate internal systems. At the same time, organizations face a lack of commonality and clarity around reporting standards, as well as the need to balance ESG initiatives with other business impacts.
To overcome these hurdles, businesses are planning to invest in ESG technologies in the next two years, to support tracking and reporting of ESG performance, as well as improve operational sustainability and data collection. Firms will also be targeting data visibility across the supply chain to drive more integrated ESG efforts, and will look to leverage existing tools, such as EHS applications, to support these efforts.
Alcumus has commissioned independent research firm Verdantix to assess the evolving trends surrounding ESG and sustainability, as well as some of the challenges faced by businesses looking to optimize the potential of a robust ESG approach. To gain the latest insights, they undertook a series of in-depth qualitative interviews with executives across four key business functions: finance, operations, risk and supply chain. Respondents were based in either the UK or North America and held senior roles within their organizations.
David Picton, SVP of ESG and Sustainability says: “Heightened stakeholder expectations and growing public scrutiny mean that businesses need to prove they’re managing their operations without compromising on safety, sustainability or ethics. It’s a journey, not a destination and everything is a learning process where there will always be room for improvement to shape better futures. Sustainability is no longer a nice-to-have, but a must do.”
Join our webinar to discover the findings of this study, presented by Bill Pennington, Research Director at Verdantix. Our panel of global ESG experts will provide their perspective on the research and practical steps you can take to establish a cohesive ESG program.
Our panel will comprise:
- Bill Pennington, Research Director – Verdantix
- Dr Paula Owen – Eco Action Games / Green Gumption
- David Picton SVP of ESG and Sustainability – Alcumus
- Dave Martin VP of Global Product Marketing – Alcumus
Sign up now for exclusive access to the research report and webinar – hosted on Thursday 14 October at 10:00 ET / 15:00 GMT and repeated on Friday 15 October at 11:00 GMT.