Is Your Business Ready For New ESG Rules?

Our weekly newsletter will showcase positive sustainability stories, news from the industry, and comments and analysis from members of the FuturePlus team.

75% Of Firms Globally Are Not Ready For New ESG Rules

According to a new report published this week by KPMG , 75% of companies globally are not ready to have their environmental, social and governance (ESG) data audited externally months before new regulations kick in.

Stricter European Union, U.S. and global rules are being introduced to replace multiple private sector practices for listed companies to make climate-related disclosures. The new EU rules will require disclosures to be audited, while countries adopting the International Sustainability Standards Board's reporting requirements can also demand external checking. Whether you're just starting up, already well-established and seeking to improve your business, or aiming to gain insights into your supply chain or portfolio, we're here to assist you.

FuturePlus harnesses the potential of data and intelligence to empower businesses to enhance their sustainability performance.

We aim to democratise sustainability by making it accessible and achievable for businesses of any size. For more information: [email protected]

Alexandra Smith ’s View: “We have been working with clients across the globe who have recognised the need for their businesses to prioritise ESG readiness in order to navigate the evolving landscape of ESG reporting and maintain public trust. As the assurance requirements become more stringent, companies must focus on enhancing the quality and accuracy of their ESG data.

“As we have seen with other ESG trends, larger companies appear to be more prepared for this transition, highlighting the importance of growing the maturity of ESG evidence and data systems within all companies, particularly SMEs.”

Surnames And Social Mobility

Businesses have a profound responsibility to address the persistent socio-economic gap in society through inclusive hiring practices and opportunities within their organisations.

The data presented in this study by 英国伦敦政治经济学院 , reveals a remarkably high intergenerational correlation of social status, underscoring the urgency of this responsibility. The research shows that surname status can persist for as many as 20 to 30 generations, making it more strongly inherited than height.

Taina D. 's view:

“In our current context, inclusive hiring practices that include initiatives such as removing names from CVs can be instrumental in breaking the cycle of inherited socio-economic disadvantage. By these associated biases, businesses can provide equal opportunities for candidates from all backgrounds. “Moreover, fostering diversity through succession plans that promote socio-economic diversity from within the organisation can further contribute to reducing this gap. Such plans not only benefit individuals from disadvantaged backgrounds but also build a more diverse and equitable sector, enriching it from the ground up.”

Embedding Diversity and Inclusion into your organisation’s culture is not only the right thing to do, but it will also ensure that you get the best from your workforce, boosting your bottom line by bringing a wide range of views to the table. We partnered with CandidateX to create a guide for businesses on ‘Applying A Diversity, Equality & Inclusion Lens to Your Talent Acquisition Strategy ’.?

Award Win For Arksen

A huge congratulations to our friends at Arksen for their recognition at the National Maritime SME Awards this week. Arksen won the UK Social Media Award, in recognition of the team’s commitment to producing outstanding content that inspires and motivates explorers and conservationists of all ages.

The team were also finalists in the Sustainable Team Award, which highlighted the collaborative and innovative approach to enhancing sustainability.

Congratulations all! More here .

Become IMPACT CERTIFIED On Booking.com

Being able to showcase green credentials for sustainable travel and accommodation has never been more important, and demonstrating your ambition to be more sustainable, is doubly so, with 76% of travellers wanting to make their holiday travel sustainable, according to Booking.com 's 2023 Sustainable Travel Report.

As part of Booking.com ’s continued sustainability drive, hotels and venues can now display the Travel Sustainable badge once they have gained IMPACT CERTIFIED status by FuturePlus. The badge is designed to help communicate sustainable strategies, ambition, and a desire to have an increasing impact to potential guests looking to travel more sustainably.

It’s available for all properties, no matter their type, size or location. With the badge available on search filters, properties will stand out to travellers searching for more sustainable stays.

FuturePlus currently works with a range of venues and accommodations to help track, measure, plan and improve sustainability performance, including Barons Eden - Hotel and Spa Collection , Soho House & Co , Sea Containers London , The Savoy , Nobu Hospitality Hotels, The Langham Hotel , The Mayfair Townhouse , Cliveden House and Spa , Strand Palace , Heckfield Estates Park Farm and numerous other hotels across the world.

If you need help getting started on your sustainability journey or you just want to find out more about us, we’d love to hear from you: [email protected] .

Manufacturing Leadership Committed To Sustainability Despite Challenges

A recent report created by Fictiv entitled the Sustainability in Manufacturing Report aims to better understand how the industry is tackling sustainability and the plans for a more sustainable future. The report includes findings and analysis from hundreds of senior leaders in engineering, production manufacturing, supply chain, and research and development (R&D). ?

Interestingly, sustainability continues to be a stated priority for leaders, with 87% of those surveyed responding that sustainability is growing in importance. However, 3/10 companies are struggling to form effective strategies to improve the sustainability of their operations. Many companies don’t understand the scale of their environmental footprint and are struggling to have practical ways to measure it. This results in a lack of planning.

Those who are fortunate enough to create a plan run into new hurdles, such as the need for resources to execute said plan. This is usually due to the lack of funding and a failure to prioritise sustainability initiatives.

Efficiency is key to maximising profit, but there are business owners who fail to understand that many of the things they can implement to become more sustainable will make the business more efficient, too.

Zakarina Ajala ’s view:

“There has to be a balance. Effective strategies can be created if the company's business practices align with its sustainability goals, from management to operations. If a slither of sustainability is attached to all aspects of a business, it’s much easier to make it a priority. “So, when a plan is made, sustainability isn't seen as a stand-alone entity but a foundation, and sustainability initiatives can be successfully executed.”

Free Sustainability Clinics For Businesses

In collaboration with Better Bankside , and coinciding with COP28 UAE , we are running a sustainability health check event, where local companies can book a 30 minute slot to discuss their sustainability questions, challenges and requirements and receive free advice on how they can start to tackle the most material issues affecting their business.

Spaces are limited, and allocated on a first come, first serve basis.

The sessions will be held on Wednesday, 12th December, between 9:30 and 13:30 and will be hosted in person at the Better Bankside Arch.

?? Book Your Free Business Sustainability Clinic ?? https://bit.ly/3LupMtE

Weekend Reading

EU Bans Microplastics in Consumer Products

?? Read here

Asset managers turn to ‘green hushing’ on sustainable funds

?? Read here

Decarbonising the energy system by 2050 could save trillions

?? Read here

Making Sustainability: Accessible, Affordable and Achievable

FuturePlus is a sustainability and ESG management, improvement and reporting platform that makes managing social and environmental impact accessible, affordable, achievable and trackable for every business, not just the 1%.

It helps you understand where you are, and where you want to be and, most importantly, helps you get there.

If you’d like to find out how FuturePlus can benefit your business, book a demo here: https://bit.ly/45NMxR7