ESG - It's just good business

Welcome to our latest edition of Starter for Ten. This week we talk more about ESG – a crucial aspect of modern business. We spotlight?some pragmatic resources and share innovative tools and platforms, like Social Value Portal, that is revolutionising the way businesses measure, manage and enhance their ESG impacts.?

We also invite you to join us when we present our interim results on Tuesday on Investor Meet Company's portal. Register here for the presentation .

I have no doubt that many of you have decorated for Christmas - slightly early, but it seems that once we celebrate Thanksgiving, which we did, then many people start to deck the halls....

Enjoy the cold weather and have a great week.

Alison Dwyer

Head of Marketing and Communications

Some pragmatic support

As businesses?embark on their ESG journey, access to the right resources and tools is crucial for deep dives into specific topics. Below are key UK-based resources that offer valuable insights and guidance, along with context for each.

British Business Bank's ESG Strategy for Small Businesses:

Webpage: British Business Bank's ESG Guide

Key highlights:

• Steps to create an ESG team and involve employees in ESG initiatives
• Importance of investing in ESG for cost savings and increased turnover
• Emphasis on supply chain management and regular performance auditing
• Communication of progress to stakeholders, customers, and employees.

Institute of Chartered Accountants in England and Wales (ICAEW) on ESG for SMEs:

Webpage: ICAEW's ESG Guide for SMEs

Key highlights:

• The increasing importance of ESG risk assessments due to trickle-down compliance from larger corporations
• Advice on customizing ESG approaches based on company size and sector
• Strategies for breaking down ESG mapping into manageable segments
• Emphasising the focus on material issues and establishing a monitoring process
• The role of collaboration in transitioning to a different economy.

UK Business Climate Hub:

Webpage: UK Business Climate Hub

Key Highlights:

• Provides comprehensive guidance for SMEs on achieving net zero.
• Addresses the challenges SMEs face in accessing support and resources for ESG initiatives.
• Includes industry-specific net zero plans and financial support information.
• Emphasises the need for small businesses to understand the range of funding options and tax implications for net zero investments.?

Social Value Portal: pioneering diversity and inclusion in ESG

As small businesses strive to integrate ESG practices into their operations, one of the most pressing areas that often throws up the most challenge is in the realm of diversity and inclusion. Particularly, when it comes to effectively measuring and managing this aspect due to limited resources and expertise.

The solution for SMEs:

Social Value Portal is one of Mercia Ventures' portfolio companies and offers a tailor-made solution for SMEs embarking on their ESG journeys. This UK-based tech-for-good platform revolutionises how SMEs measure and report on diversity and inclusion. Utilising the National TOMs Framework, a benchmark for social value measurement, it enables SMEs to quantify and enhance their contributions in the critical area of diversity, equity and inclusion.

The Impact on SMEs:

The platform's user-friendly interface simplifies the process of aligning SMEs with ESG goals, specifically in fostering a diverse and inclusive environment. It aids in pinpointing improvement areas, setting targets, and strategising to boost their social and environmental footprints. This contributes to broader sustainability, inclusivity and responsible governance within the SME sector.

The future and growth:

Social Value Portal's recent ￡8.5 million investment, led by Mercia Ventures, signifies both our and Social Values Portal’s commitment to expanding our influence and capabilities. This boost will allow the company to refine its offerings and reach more SMEs, helping them navigate and excel in their diversity and inclusion efforts within the ESG spectrum.

Find out more about Social Value Portal →

Interim results FY24

Mercia will provide a live management presentation of its interim results including a Q&A via the Investor Meet Company platform at 3.00pm on 28 November 2023. The presentation will be given by Dr Mark Payton, Chief Executive Officer, Martin Glanfield, Chief Financial Officer and Julian Viggars, Chief Investment Officer. Questions can be submitted pre-event via the IMC dashboard or at any time during the live presentation via the 'Ask a Question' function.

Register here →

Empowering businesses in diversity and inclusion: Essential resources for growth

Smaller businesses often grapple with the complexities of diversity and inclusion in the workplace. This is largely due to limited resources and expertise in these areas. However, accessing targeted resources can significantly help especially if they provide practical guidelines and strategies. By leveraging these tools, you can set a course towards a more inclusive environment, which not only enhances team dynamics but also drives innovation and business growth.

'How to Be an Inclusive Leader by Jennifer Brown

This book offers a step-by-step guide for leaders at all levels to become more inclusive. SME leaders can learn practical strategies to build a more inclusive work environment, which can be integrated into leadership training and personal development plans.

McKinsey & Company Reports on Diversity and Inclusion

McKinsey is known for its extensive research in corporate strategies, including DEI. Their reports often provide data-driven insights and can be used to understand the broader impact of DEI on business performance and to benchmark an SME’s progress against industry standards.

'The Diversity and Inclusion Handbook' by Sondra Thiederman

This handbook is designed to help businesses understand and implement DEI strategies.It 's useful for HR professionals and team leaders in SMEs, providing concrete actions and exercises to improve workplace diversity and inclusion.