CREATING AN ESG FRAMEWORK
ESG is complex, but it doesn’t have to be complicated.
We hear repeatedly: “we don’t know where to start”, “we don’t have time or resources to invest into ESG”, “we’re so far behind on ESG”, “we’re too small for ESG”, “our investors don’t really care about ESG”.
Ugh.
We would love nothing more than to keep our playbook a secret, however, we would rather support you in your ESG journey by providing some practical ideas to kick-start your ESG implementation:
Include ESG as part of the Board’s mandate. For example, include ESG in the committee mandate for your Governance Committee or consider establishing a dedicated ESG sub-committee of the Board.
Appoint an ESG champion internally (supported by the C-suite) and establish an ESG Committee. Prepare a committee charter, ensure diverse representation, define roles and responsibilities and consider the formation of subcommittees (one for the E, one for the S and one for the G). Showcase the members of your ESG committee – internally and externally.
Develop a roadmap for integration across your organization, including measurable goals and tactical plans. For example: operational efficiencies; special accreditations/designations unique to your industry; cyber security; community relations; employee relations; and diversity, equity and inclusion.
Establish a communications plan which outlines your target audiences and detail a plan for disclosing and updating your ESG progress with all appropriate stakeholders.
Provide an update on your ESG progress in your quarterly disclosures and incorporate ESG into your quarterly investor communication (i.e., earnings conference call).
Publish an annual ESG report to appeal to a broad range of stakeholders.
Leverage social media platforms, especially LinkedIn, to showcase your ESG progress and successes. Develop a social media calendar that encompasses ESG, business strategy, news updates and acknowledgement of certain dates/events including International Women’s Day, Earth Day, Pride Month and more.
There you have it. That doesn’t sound too complicated, right?
We are here to help and would be pleased to support you in your ESG journey!
Please reach out to us if you would like a sample ESG Committee Mandate.
