ESG Consultancy
It is too early to judge what ESG will entail a few years or decades down the line. One realization that “this too, meaning ESG needs attention” is like a positive shift towards making difficult trade-offs between important financial and social priorities.
According to me, and many who are related to the ESG field would acknowledge that it would enable dignity for human beings. We still discuss endlessly the 3 Ps and what is more important – The Planet or People or Prosperity.
During all interactions on ESG, mainly social compliances I have always ensured raising the issues of equity across the entire workforce. It is more of “How” the issues are brought to management’s notice rather than flagging them as a ‘fault finding’ aspect. And the success rate has been phenomenal. The third ‘P’ is ‘Prosperity’ and is generally not a roadblock if one literally ‘Walks the Talk’.
Such small and big things impact the most crucial ‘Bottom Line’ concerns.
Out of ESG, the most difficult to implement and adhere to is “S”. The simple reason is it is beyond “mapping of Materiality” and such issues. It focuses on Human Aspects and it’s a long way from becoming “ASSET” in relative terms. Quite a bit of it covers issues related to Human Rights. We will have to work on it so someday we have a Consensus on it.
What is ESG?
- Enables demonstrable interaction with the natural world
- A sustainability framework that integrates environmental, social and governance factors – both risks and opportunities
- Facilitates organisations:
- Strategy to build long-term sustainability and value creation
- Effective engagement with stakeholders
- Drives economic vibrancy
Environmental factors
Energy use, greenhouse gas emissions, pollution, waste generation, impact on biodiversity, mapping use of natural resources and raw materials, and environmental policies and adherence
Social Factors
Moving Beyond Compliance
Relationships with the stakeholders: Employees, suppliers, customers, and the community
Areas covered: Diversity, Equity and Inclusion, human- and labor rights and practices, health and safety, supply chain management
While environmental factors are often easier to measure, social responsibility presents its own unique challenges
Governance
Managing factors such as leadership, internal controls, audits, and shareholder rights, focus on risks within areas of: compliance with accounting standards, tax, whistleblower mechanism, and bribery & corruption.
What is Sustainability?
Sustainability is the balance between the environment, equity, and economy.
As per Brundtland Commission in 1987 “Sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs.”
Why ESG Matters?
- Risk Identification and Management: Effectively managing environmental, social, and governance risks.
- Business Growth & Competitive Advantage: ESG initiatives can foster innovation and differentiate a business in the marketplace.
- Energy Efficiency & Waste Management: Implementing sustainable practices that reduce costs and environmental impact.
- Stakeholder Pressure: Growing demand from stakeholders for responsible and ethical business practices.
- Attracting Investments: Impact investors seek ethical investment opportunities that maximize returns while promoting social good.
- Attracting Top Talent: Millennials and Gen Z are drawn to organizations that prioritize diversity, equity, and inclusion (DEI) and demonstrate social responsibility.
- Government Support: The Indian government actively promotes ESG through initiatives like SEBI’s BRSR guidelines, which encourage greater corporate accountability and sustainability.
Services:
Environment, Social and Governance: ESG
- Business Responsibility and Sustainability Reporting (BRSR)
- Circularity and Resource Optimization
- CSR Policy, Strategy, Impact Assessment and Reporting
- ESG and size of businesses – not for SEBI companies only: equally significant for MSME
- Ethical Supply (Value) Chain – MSME support and handholding
- Importance of ESG for business and investors: From Strategy to Core Business activity
- Materiality Assessment
- Risk analysis and Opportunities
- SDG and other interventions alignment and impact assessment
- Selecting appropriate national and international frameworks & Standards
- Social ROI
- Sustainability Disclosures and Performance Metrics
- Sustainability Risk Assessment
- Sustainability Strategy & Reporting
- Sustainable Supply Chain Management
- Up-gradation from BRR to BRSR
National and international Certifications, Frameworks, and Standards
- ESMS – Environmental Social Management System
- Carbon Footprint
- CSR – Program selection, Monitoring & Evaluation
- Stakeholder Mapping & Engagement
- Social Impact Consulting
- Natural resources and utilities mapping & restructuring
- Materiality – mapping : implementation of frameworks like GRI
- Management Systems & Business Excellence Audits
- ISO 9001
- ISO 14001
- ISO 45001
- ISO 27001
- ISO 50001
- ISO 22000 and other standard
- Social Accountability 8000, Sodexo and other frameworks
Human Rights:
- Audits and Impact Assessment
- Training
- Policies and Standard Operational Practices
- Qualitative and Quantitative data
SNS extends specific programs for ESG Leadership
ESG Leadership:
ESG (Environmental, Social, and Governance) leadership involves a dynamic and
forward-thinking approach that integrates sustainability into both the short-term operations and long-term strategies of an organization:
- Assimilating ESG into Core Business Activities
- Communication & Collaboration Skills
- Consolidation – “Bridge” Between Short-term and Long-term Goals
- Cross-Organizational Collaboration & Engaging Key Leaders
- Decision Making and Goal Orientation
- Lead by Example – Transparency & Accountability
- Long-term Strategy, Vision, and Clairvoyance
- Stakeholder Engagement
- Talent Management and Creating a Pipeline
ESG Centric HR focus and Training
- ‘Buying in’ of ESG as a commitment, culture of the organization and not ‘A job-profile’
- Compliances, Assurance audits, and Reporting
- Employee up-skilling
- Attrition Management
- Talent pipeline of sustainability experts