Creating an ESG Strategy
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Step 1: Take Stock of Existing ESG Initiatives
| 1.1 | Organise meeting with and gather the key executive leader and stakeholders of ESG on going monitoring elements. | |
| 1.1.1 | Waste reduction and pollution management | |
| 1.1.2 | Energy consumption & efficiency | |
| 1.1.3 | Mobility of recycling campaign | |
| 1.1.4 | Employment policies & respect human right | |
| 1.1.5 | Social and communities contribution | |
| 1.1.6 | Health and safety policies | |
| 1.1.7 | Privacy and data control | |
| 1.1.8 | Ethical business practise | |
| 1.1.9 | Strategy sustainabilty oversight | |
| 1.2 | Review performnce on data collection to understand ESG policies and achievement. | |
| 1.3 | The ESG strategy will be based on the results finding of this sharing session. | |
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Step 2: Set Priorities Through a Materiality Assessment
| 2.1 | A materiality assessment allows you to identify, refine, and assess the potential ESG areas that the company could focus on. |
| 2.2 | Setting new baseline and prioritise the goal for more realistic to the organization. |
| 2.3 | Layout new ESG landscape with timely monitoring progress chart and bench marking on scoring againts the objective. |
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Step 3: Assemble Your ESG Committee
| 3.1 | Set up ESG committees that responsible for creating and executing the ESG strategy. |
| 3.2 | Appoint dedicated and accountable team or governance committee to overseeing ESG strategy, implementation, and measurement. |
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Step 4: Measurement & Reporting
| 4.1 | Decide which metrics and KPIs to report on and how often to create reports on the efforts in force. |
| 4.2 | Identify methodology to track and confirm each KPI, and consider putting 3rd party auditing to make the KPIs more credible. |
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Step 5: Set Your ESG Goals
| 5.1 | Finalize the ESG goals specific to the company. |
| 5.2 | Assess the interests and focus of the industry that customers desire from a responsible organisation. |
| 5.3 | Achieve and accomplish the easier goals to move on with momentum and hopefully more budget to work toward greater goals. |
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Step 6: Set Your Budget
| 6.1 | Setting the budget that organization’s financial boundaries and opportunities for rolling out the ESG strategy. |
| 6.2 | Apply with an ROI analysis including financial, material, and long-term ROI right for investors or customers and employee satisfaction. |
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Step 7: Construct Your ESG Framework & Action Plan
| 7.1 | Create a realistic ESG framework and action plan that pave the way for meeting those goals. |
| 7.2 | Outline the company’s vision & Mission that allign with the ESG goals. |
| 7.3 | Be flexible and fine tuning of ESG on changes derive from company policies and procedures. |
| 7.4 | ESG investing is based on more quantitative data due to the use of ESG scores and metrics. |