Clear strategy, good governance and quality reporting are all required for your business to develop a solid sustainability approach.
An effective environmental, social and governance (ESG) strategy helps to create long-term value for your organisation, your stakeholders and wider society. It needs to align with your commercial goals and be fully integrated into your everyday operations. Defining this isn’t always simple but it is important.
Whatever your business size or sector, our team has the expertise to work with you to define and implement an ESG strategy that is tailored for your organisation.
Our ESG specialists will collaborate with you to create a robust strategy, build trust with stakeholders, set clear metrics to assess performance and minimise future legislative, organisational and reputational risks.
We will support you to develop a strategy based on the ESG areas that are most important to your organisation, considering both financial and impact materiality ("double materiality").
Our seven-step ESG strategy approach
Our approach to ESG strategy consists of seven steps, which can be applied to organisations of all sizes and across all sectors.
"ESG has become a 21st-century matter that all organisations will need to address. Whether it be regulatory or stakeholder driven, the time is now for all organisations to consider and implement their ESG strategy. As well as satisfying regulators and stakeholders, the implementation of a robust ESG strategy will provide value creation opportunities, while also helping you generate growth and ensuring the long-term sustainability of your organisation."
William Hughes, Sustainability Services Lead
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ESG is a framework used to capture the non-financial impacts, risks and opportunities (IROs) connected to an organisation's activities. Within this framework, the IROs are organised under three pillars - Environment, Social and Governance (ESG) - with topics under each pillar representing different IROs that the business must focus on to ensure the long-term sustainability of both the business and the planet.
What is double materiality?
The EU Commission first introduced the concept of double materiality as part of the 2019 Guidelines on Non-Financial Reporting. It recognises that ESG impacts, risks and opportunities (IROs) can be material from a financial perspective, a non-financial perspective or both. This approach to assessing materiality is clearly the future for reporting, and we’d recommend organisations should therefore look to develop their ESG strategy after considering materiality from both of these perspectives.
How are boards and senior management tackling the myriad of elements involved in ESG? Mazars, in partnership with Board Agenda and Henley Business School, surveyed UK business leaders about how they are approaching the challenges of new ESG regulations, responsibilities and risks. Is ESG a board priority? How is that translating into action? What are the pressure points and challenges? Explore...
Mature markets are experiencing a shift in consumer demand patterns as consumers move away from traditional products and services towards those consistent with environmental, social, and governance goals. Our study ‘Sustainable, smart, and synchronised’ explains how consumer companies can harness ESG and digital transformation to thrive in this changing environment.
Being largely unknown and under-reported before 2018, interest in ESG (Environmental, Social and Corporate Governance) has skyrocketed to the top of corporate and public interest agendas - with new swathes of regulations, heightened interest from investors and increasing scrutiny from concerned consumers. But what does ESG really mean to businesses? What explains its meteoric rise and where is...