How to gain buyin for your ESG agenda from your Board?

Hello Hello ?? If you are new to this newsletter then welcome and do subscribe if you enjoy it. This weekly newsletter is all about Environmental, Social, and Governance (ESG) trends and best practices.

I'm Gihan, my team and I specialize in crafting innovative solutions to develop your #sustainability strategy, effectively disseminate it within your organization and to external stakeholders, and empower your employees to seamlessly integrate it into your company's core values.

CommUnique recognized as the leading ESG Advisory Firm by Europe's largest Payment Association

I am ecstatic to announce that Communique| B.Corp has taken the prestigious spot at the very top of The Payments Association #ESG toolkit trusted service providers.

Months of dedicated effort by the association's members have culminated in the creation of this toolkit, which aims to guide organizations in embarking on their Environmental, #Socialimpact, and Corporate Governance Journey, while also integrating these principles into their business models.

To access the toolkit, simply click here.

CommUnique and B Corp UK join forces to foster a more inclusive and varied sustainability ecosystem.

The current statistics shows that only 27% of B Corps are owned by women, and just 1 in 13 are founded by people of color. This disparity is concerning, and it emphasizes the need for greater support and inclusivity within the B Corp movement.

Here at CommUnique and B Lab UK, we are actively working towards addressing these barriers and fostering a more diverse and inclusive community of B Corps.

To further our efforts, I am thrilled to announce an exclusive giveaway aimed at raising awareness among businesses that may have overlooked B Corp Certification. By participating in the giveaway, you have the opportunity to win free B Corp Certification for 3 years and receive B Leader support to assist you in putting together your application.

Don't miss out on this incredible opportunity! Click here to learn more about the giveaway and discover how it can benefit your business.

If you are interested to hear more about the work we did with B.Corp and other clients don't hesitate to reach out to us via email [email protected]

How to gain buyin for your ESG agenda from your Board?

In order to garner support from the board for your ESG agenda, it is crucial to provide concise and comprehensive responses to the following inquiries and reflections.

By doing so, you will be able to effectively anticipate the board's agenda and priorities, ultimately resulting in the swift implementation of your ESG agenda:

Strategic Alignment:

1. How does the board view ESG in the context of our long-term strategy and value creation for shareholders?
2. What specific initiatives or projects are currently in place to integrate ESG considerations into our strategic planning and execution?

Board Oversight:

1. What mechanisms and processes are in place for the board to oversee ESG matters, and how often are they discussed at board meetings?
2. How does the board ensure that ESG-related decisions are integrated into the broader governance framework and corporate culture?

Performance Metrics:

1. What key ESG performance indicators is the board tracking, and how frequently are these metrics reviewed and reported?
2. How does the board assess the effectiveness of our ESG metrics in driving meaningful change and value creation for the company?

Transparency and Reporting:

1. How is the board ensuring that the company's ESG disclosures and reporting are accurate, transparent, and in compliance with relevant standards and regulations?
2. What steps are being taken to enhance our ESG reporting to make it more accessible and understandable to our stakeholders?

Accountability:

1. What mechanisms are in place to hold board members and management accountable for ESG targets and commitments?
2. How does the board monitor and address any deviations from our ESG goals and commitments, and what corrective actions are taken when necessary?

By prioritizing these crucial aspects, you have the power to guide the board's unwavering dedication to the ESG agenda. Through a laser focus on strategic alignment, efficient oversight, impactful performance metrics, transparent reporting, and robust accountability measures, you not only ensure that the board takes ownership but actively propels the company's ESG initiatives forward. This unwavering commitment not only aligns the organization with ever-evolving market expectations but also fortifies its long-term sustainability and resilience in an ever-changing business landscape.

Dear CommUnique Team

Hello CommUnique team! I hear the sustainability team speak constantly about ESG indexing and ranking. Can you help me understand what is the difference between them?

ESG (Environmental, Social, and Governance) ranking and indexing are two distinct approaches used in the field of sustainable and responsible investing (SRI) to assess and evaluate companies based on their ESG performance. Here's the difference between the two:

ESG Ranking:

• ESG ranking is like giving grades to companies based on how well they do environmentally, socially, and in terms of governance.It helps compare companies to see which are doing better or worse in these areas.
• It's useful for investors who want to know which companies are ESG leaders.
• Ranking providers include S&P Global, Morningstar Sustainalytics

ESG Indexing:

• ESG indexing is like making a list of companies that are considered good in terms of environmental, social, and governance practices.
• These companies make up a special investment group that people can invest in.
• It's a way for investors to support and invest in companies that follow ESG principles.
• Index providers include MSCI Inc. FTSE Russell, An LSEG Business?

Both ESG ranking and ESG indexing help investors who care about ESG issues, but they do it in different ways. Ranking grades companies, while indexing creates a list of companies to invest in.

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