Page 24 - BOSS Today Issue 54

BOSS Today #54 DOWN TO BUSINESS

ESG – The

New Business

Culture

SG is an overarching term to describe strategic and measurable ESG plans will The good news is that most
Ea way of doing business, behaviour be seen to be sustainable and future organisations will already have polices
and conduct: proof, more likely to succeed in tender and processes in place to comply
applications, will attract and retain with their legal obligations and will
E is for Environmental – the natural the best workers and will distinguish also have good and ethical business
environment themselves from their competitors. practices. Business leaders may now
S is for Social – the rights, wellbeing Businesses are increasingly being wish to draw these practices together
and interests of your people and the held to account as it becomes easier under an overarching set of policies.
wider community for customers, investors, regulators,
G is for Governance – the governance employees and other stakeholders to What Should You Be Doing And How
of your organisation monitor their activities. At the same Can BOSS Help?
time, customers and investors are more Consider appointing an ESG champion
The terminology of ESG is increasingly aware than ever of the need to tackle for your business and develop plans to
taking over from concepts around urgent social and environmental issues. ensure continuous and measureable
business ethics, ethical trading and There is also a growing body successes across all three areas of
social responsibility. of evidence that consumers are ESG.
increasingly prioritising ethical and A great starting point is to
Why Should You Develop A Strategy environmentally-conscious brands understand the current legislation
Around ESG? and products, and that awareness has that might apply to each area and
Increasingly there will be pressure from grown following the COVID pandemic. the resources that BOSS can offer to
funders/lenders, customers and other Added to this, implementing enable members to develop a strategy
stakeholders (including employees), who measures to boost diversity and inclusion for ESG.
will all want to see that an organisation in the workforce can have a deep positive
has a plan for continuous improvement effect when it comes to attracting and For more information on ESG, contact
across all three of these areas. This retaining talent, as well as getting the Nicola Langley, Head of Legal, at
is because organisations that have best performance from staff. nicola.langley@bpif.org.uk

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