This article, titled “ESG no longer a choice, but a necessity, say CEOs at women’s summit,” is a summary of comments at the 2022 Global Summit of Women in Bangkok.
Key points:
- Covid has caused people around the world to demand social responsibility from companies that exploit resources from nature and advantages from society;
- ESG provides more advantages to boost profit and competitiveness than programs like CSR (corporate social responsibility);
- 74% of consumers are willing to spend on goods/services that comply with an ESG strategy, making ESG no longer an option, but a necessity for companies;
- Companies are adopting ESG due to demand from consumers, investors and regulators;
- Companies need to motivate staff to show mutual respect for the rights of others;
- A company’s sustainability responsibility does not stay inside the walls of the company, but includes the community the company serves.
If 74% of consumers are willing to spend on goods/services that comply with an ESG strategy, making ESG no longer an option, but a necessity….and for these bigger organizations to meet their sustainability/ESG/carbon neutral requirements, they need their vendors to also be sustainable….is this an opportunity for small to mid-sized enterprises? And, if it is an opportunity, or necessity, is there a program that is affordable (both in money and time)?
Yes, it is an opportunity/necessity. Large companies are required to use certified sustainable companies when available. This is one of the reasons certified sustainable companies are growing 75% – 20x faster than their non-certified peers.
Yes, there is a program that is designed specifically for SMEs. Here is a PPP to guide you.