ESG & Sustainability Compliance
ESG & Sustainability
Reporting
In today’s world, where environmental and social consciousness is paramount, companies are placing great emphasis on developing robust Environmental, Social, and Governance (ESG) programs, which include fulfilling Corporate Social Responsibility (CSR) commitments. These programs are comprehensive, addressing a range of issues from reducing carbon emissions and protecting the environment to ensuring sustainable practices, human rights, and ethical sourcing.
To enhance the effectiveness of these ESG initiatives, businesses are now incorporating Supplier ESG ratings into their evaluation criteria, significantly influencing suppliers’ opportunities for business growth based on their commitment to social responsibility. This approach not only encourages companies to assess and improve their supply chains but also promotes industry-wide efforts to tackle climate change, enhance diversity, and evaluate social and environmental impacts, fostering a more sustainable and responsible business ecosystem.
We provide end-to-end ESG and CSR solutions, from crafting an ESG strategy and framework to outlining policies and execution plans. Our services ensure clients’ ESG programs align with UN Sustainable Development Goals, maintaining high global standards. Post-implementation, we assist in managing, analyzing, and reporting ESG data to meet environmental, health, and safety non-financial reporting requirements. Leveraging our expertise, technology, and managed services, we help clients enhance their sustainability strategies and evolve into socially responsible businesses.
The effectiveness of an ESG Program hinges not only on your own sustainability efforts but also on the alignment of your supplier base with your ESG goals. Our program facilitates the collection of supplier data to inform selection and identify new partners in line with ethical practices such as combating child labor, trafficking, promoting supplier diversity, and ensuring workplace safety.
Here are some of the regulations we cover under Ethical Sourcing:
- Modern Anti-slavery Act
- Foreign Corrupt Practices Act (FCPA)
- Customs-Trade Partnership Against Terrorism (C-TPAT)
- Anti-boycott Compliance
- Anti-Trafficking Trade Act
- The Fair Labor Standards Act (FLSA)
- Council Directive 94/33/EC
- Supplier Code of Conduct
- Supplier Diversity
EPR services
- Assessing your current ESG practices to identify gaps.
- Strategizing and developing future ready ESG guidelines and policies.
- Establishing the ESG Strategy implementation plan to in still sustainability within the organization
- Supplier ESG surveys, data validation, analytics and reporting
- Advising internal teams on sustainable procurement practices
- Training suppliers on the ESG program expectations
ESG compliance solutions to common challenge
- The process of ESG compliance management can be challenging. Below, we list the three most common obstacles a company might face when handling compliance and ESG.
- Multiple ESG frameworks and standards Companies involved in ESG corporate compliance commonly stumble over a huge number of ESG frameworks and standards and experience difficulties when choosing which to follow. No wonder, there are many regional or industry-specific standards and no single global framework.
- Identifying ESG goals and principles: The next step is to define the ESG goals a company wants to achieve and make them part of its strategy. Many organizations struggle with setting goals without understanding how they will be achieved.
- Managing ESG data and metrics over time: Understanding ESG goals and what frameworks and standards a company should follow is only half the battle. It’s also important to clearly define ESG metrics to realize how progress will be measured. Additionally, a company should have a solution for ESG data collection and management.
Solution: To narrow down a selection, a company should clearly identify what environmental, social, or governance issues matter inside the organization. Whether they prioritize staff diversity or want to reduce carbon emissions, they should focus on frameworks and standards that are concerned about that particular issue. Additionally, it is important to take the regional aspect into account.
Solution: For successful ESG and compliance, it’s recommended to hire ESG specialists who can assist with setting ESG goals, and that will help to meet ESG requirements.
Solution: Using board portals can be the best answer. Board meeting management software enables the collection and safe storing of large volumes of data and allows stakeholders to access and evaluate that data. Additionally, it’s possible to conduct meetings from within the software, which greatly simplifies ESG compliance management.