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ESG for Small Businesses

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What does ESG mean and what does it have to do with my business? It stands for Environmental, Social and Governance, it has been in the news lately and talked about in the World Economic Forum. This week on Build Value By Choice, Nana will be discussing ESG investing and the three factors associated with it and how using ESG can help you better position your business for success.

 

KEY TAKEAWAYS

 

  • Environmental factors include the contribution a company or government makes to climate change through greenhouse gas emissions, along with waste management and energy efficiency. Given renewed efforts to combat global warming, cutting emissions and decarbonizing is becoming more important.
  • Social include human rights, labor standards in the supply chain, any exposure to illegal child labor, and more routine issues such as adherence to workplace health and safety. A social score also rises if a company is well integrated with its local community and therefore has a ‘social license’ to operate with consent.
  • Governance refers to a set of rules or principles defining rights, responsibilities and expectations between different stakeholders in the governance of corporations. A well-defined corporate governance system can be used to balance or align interests between stakeholders and can work as a tool to support a company’s long-term strategy. Governance can also refer to the standard of government of nations.
  • ESG can help your business in a number of ways. Firstly, it can help small businesses attract and retain investors. Secondly, it can help improve operations. Thirdly, it can help build better relationships with stakeholders. Fourthly, it can help you position yourself for success in the future.

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    BEST MOMENTS

     

    ‘ESG helps small businesses attract investment capital’

    ‘By making ESG a priority, small businesses can show stakeholders that they’re committed to making value in the long term’

    ‘A company that focuses on reducing its environmental impact can save money on energy costs’

     

    EPISODE RESOURCES

     

    energystar.gov

    https://betterbuildingssolutioncenter.energy.gov/

    https://www.dol.gov/agencies/odep

    https://www.asbnetwork.org/

    https://www.sbnphiladelphia.org/

    https://www.sbnmass.org/

    https://www.responsiblebusiness.org/

     

    VALUABLE RESOURCES

     

    Leave your comments on the show's facebook community page: https://www.facebook.com/Buildvaluebychoice

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    Get a 5-phase checklist to help scale your business. https://bit.ly/Business-ScaleUp-Checklist

    Podcast website: https://infhorizons.com/podcast/

    Don’t forget to subscribe to the podcast and share it.

     

    PODCAST DESCRIPTION

     

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    Build Value By ChoiceBy Nana Bonsu
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