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What Does ESG Mean for Your Business?

February 2022

The phrase “Environmental, Social and Governance (ESG) is being increasingly used as shorthand for a range of issues relevant to how a business can have a net positive impact on the world and how it can demonstrate that it is having that impact. This topic is fast becoming relevant to an increasing number of companies and unincorporated businesses as well as to public and voluntary sector organisations.

This information provides a broad introduction to the subject of ESG and looks at what businesses should be considering when establishing and implementing their own ESG strategy. The topics include:

• The origin of ESG;

• How ESG relates to business resilience/good corporate citizen;

• ESG-related Legal compliance;

• Environment – improving the environmental performance of a business;

• Social – a business’ impact on people;

• Governance – a business’ leadership and structure;

• Why you should take ESG on board;

• Adopting an ESG strategy and policy; and

• How to facilitate supply chain compliance.

Addressing ESG issues should not be treated as just a box-ticking task. In the interests of the long-term survival and success of any business, it should be seriously considering how ESG is relevant to it since all ESG issues relate in some way to the running and resilience of a business.

In addition to information there are a number of template environmental policies and environmental policy statements available for download. They specifically cover environmental matters and can assist with implementation of some environmental aspects of ESG. A template set of Board Minutes to implement an ESG strategy is also available.

The contents of this Newsletter are for reference purposes only and do not constitute legal advice. Independent legal advice should be sought in relation to any specific legal matter.

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