Creating an ESG Strategy
Step 1: Take Stock of Existing ESG Initiatives
|Organise meeting with and gather the key executive leader and stakeholders of ESG on going monitoring elements.
|Waste reduction and pollution management
|Energy consumption & efficiency
|Mobility of recycling campaign
|Employment policies & respect human right
|Social and communities contribution
|Health and safety policies
|Privacy and data control
|Ethical business practise
|Strategy sustainabilty oversight
|Review performnce on data collection to understand ESG policies and achievement.
|The ESG strategy will be based on the results finding of this sharing session.
Step 2: Set Priorities Through a Materiality Assessment
|A materiality assessment allows you to identify, refine, and assess the potential ESG areas that the company could focus on.
|Setting new baseline and prioritise the goal for more realistic to the organization.
|Layout new ESG landscape with timely monitoring progress chart and bench marking on scoring againts the objective.
Step 3: Assemble Your ESG Committee
|Set up ESG committees that responsible for creating and executing the ESG strategy.
|Appoint dedicated and accountable team or governance committee to overseeing ESG strategy, implementation, and measurement.
Step 4: Measurement & Reporting
|Decide which metrics and KPIs to report on and how often to create reports on the efforts in force.
|Identify methodology to track and confirm each KPI, and consider putting 3rd party auditing to make the KPIs more credible.
Step 5: Set Your ESG Goals
|Finalize the ESG goals specific to the company.
|Assess the interests and focus of the industry that customers desire from a responsible organisation.
|Achieve and accomplish the easier goals to move on with momentum and hopefully more budget to work toward greater goals.
Step 6: Set Your Budget
|Setting the budget that organization’s financial boundaries and opportunities for rolling out the ESG strategy.
|Apply with an ROI analysis including financial, material, and long-term ROI right for investors or customers and employee satisfaction.
Step 7: Construct Your ESG Framework & Action Plan
|Create a realistic ESG framework and action plan that pave the way for meeting those goals.
|Outline the company’s vision & Mission that allign with the ESG goals.
|Be flexible and fine tuning of ESG on changes derive from company policies and procedures.
|ESG investing is based on more quantitative data due to the use of ESG scores and metrics.