How DEI & ESG are interlinked?

Our news this week

Hello hello, welcome to this week's edition of our ESG newsletter. If you like or agree with our views please help us spread the word and invite your colleagues and friends to subscribe.

??New Clients: we are pleased to announce that we are now the approved ESG/ Sustainability integration and communication training partners for one of the big 4 accountancy firms. We will be advising and delivering training to their corporate clients to equip them ahead of COP27/28 which is taking place in Egypt and UAE in 2022/2023.

??CommUnique Board Advisor: I am very excited to announce that Angus Blair will be our first Board Advisor. Angus brings a wealth of knowledge in ESG and investment banking and he will be advising us through our scaling-up process. His work in the City of London and in emerging markets, including the listing of major emerging market companies on the London Stock Exchange, is regarded very highly by institutional investors globally. I cannot begin to explain how thrilled I am that he has agreed to be part of the CommUnique Tribe.?

??CIPR ESG Communication Training: This month we delivered the CIPR's ESG Communication Strategy Design course. The course is designed for anyone who wishes to understand how to design an ESG Communication Strategy and integrate it with BAU activities. The feedback was humbleing with an average of 4/5 accross all parts of the session. Atendees included Communication Professionals from a Bank, a Building Society, a Fintech, a Sports Authority, a MENA Government Entity, an Agency and others. BOOK Now for the Nov/Dec 2022 session

?? Events:

Last week I was in Amsterdam speaking in Sibos, one the world’s leading Financial Services conferences organised by Swift. I was part of an ESG contrarian panel, and for my lucky stars or NOT… I was one of the “Against Team” with Yael Rozencwajg. The session was jammed packed and attendees described my arguments are being compelling and super convincing seeing that I am the ultimate ESG champion out there.

To read the points I covered click HERE

Podcast: our latest podcast with Huble Digital covers how #crmsystem can help move the #esgintegration agenda have a listen Spotify OR Apple

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How DEI is a key part of ESG?

Introduction

ESG reporting is the practice of integrating environmental, social and governance-related information into traditional financial reports. In recent years, ESG has become increasingly important for public companies. It's not just that investors are asking for it—it can also benefit companies by helping them manage talent, innovate and improve their social impact. But what does Diversity, Equity and Inclusion (DEI)?have to do with ESG? How is it part of ESG reporting? And how can you use DEI to add value to your ESG story?

The business value of DEI

The business value of DEI is clear. It can help you attract and retain top talent, develop a more inclusive and loyal workforce, grow your customer base and attract ESG investors.

In addition to these benefits, by implementing DEI policies you will be able to:

●???Demonstrate corporate social responsibility in a way that’s meaningful for employees;

●???Create an environment where all people feel comfortable at work;

●???Inspire diversity within your company by setting an example for others to follow;

●???Increase employee engagement levels (which are critical in today's competitive marketplace);

●???Improve recruitment processes (because they'll be more efficient).

So how would DEI adds value to a company's ESG story?

DEI can help you attract investors who are interested in sustainability. Sustainability-minded investors seek out companies that have strong ethical and environmental practices, so it's important that your company has a thorough DEI program now to attract these types of investments down the line!

Building your business case for D&I

The first step in building your business case for DEI is to understand the benefits of DEI.

The second step is to understand the costs of not having DEI.

The benefits of DEI include:

●???Increased employee satisfaction and retention, as well as better work-life balance

●???Improved productivity and innovation by reducing bias in hiring, promotion and performance management decisions

●???Increased customer satisfaction and loyalty by creating an inclusive culture that allows all employees at all levels to engage customers with empathy and understanding

How to measure progress on DEI?

If you're thinking about incorporating DEI into your ESG strategy, or if your company already has a program in place, it's important to know how to measure progress on DEI. Metrics can help show the impact of your efforts and make sure that they're having the intended effect.

The first step toward measuring DEI is identifying what measures will be most effective at showing progress toward inclusive development goals. While there isn't one metric that fits all situations (for example, some organizations may want to focus their efforts on improving access for women entrepreneurs), there are some general guidelines that we recommend following before deciding which ones fit together best for each company's specific purpose:

• Measurements should include both qualitative factors (such as interviews with employees) as well as quantitative factors (such as sales figures). This way you can gain insight into both what people think about a topic like gender equality but also whether those beliefs translate into actionable practices within an organization.
• Measurements should be based on current reality rather than idealistic projections; there might not always be enough data available right now but collecting more over time will allow us an opportunity to build up our knowledge base.
• Measurements should include both internal processes such as staff training programs or external outcomes such as increased sales revenue generated by new products developed under fair trade conditions."

Companies that have implemented DEI have seen a return on investment in the form of increased productivity, less turnover and absenteeism among employees, lower costs associated with recruiting new employees who require additional training or onboarding support.

Social impact can lead to more and better ideas

It's no secret that diverse teams are more likely to solve problems and create new ideas than homogenous ones. This is because the different perspectives they provide allow them to explore more options, which leads to better problem solving, and ultimately innovation.

By remaining open-minded and sharing their thoughts with others, team members can learn from one another at a much faster rate than if they were working in isolation. They'll also be able to come up with more creative solutions that take advantage of the strengths of all its members—something any organization will benefit from!

To conclude, we’re living in a time where ESG is becoming more and more important for public companies. As these companies look to improve their reporting capabilities, it’s important for them to consider how they can use DEI as a tool to help them manage talent, innovate and improve their social impact. We hope that this post has given you an introduction into why DEI is so valuable and how it can help your organization achieve its goals!