Companies are increasingly wanting to act in a sustainable manner that complies with ethical and climate goals. Investors, customers, and business leaders are more attentive than ever to sustainable development.
The extent to which a business behaves in this way can affect the shape of the business and even its long-term value.
Businesses usually label their social policies as “corporate social responsibility” (CSR) and their environmental policies as “environmental, social and governance” (ESG). CSR reflects the corporate social responsibility to contribute to sustainable development that has a balance of economic, social and environmental threads and also enables thought out interaction with employees and other members of society.
Companies in general are not legally obliged to include CSR in their activities. However, CSR standards can be found in internationally recognized reference documents on trade responsibility, in particular the Universal Declaration of International Trade and Social Policy in a regulatory framework such as the recent OECD Guidelines for International Trade. , The UN Guidelines on Trade and Human Rights or within the UN Global Compact and ISO 26000. They explain how to protect the environment and climate, how to conserve resources, or how to establish fair trade practices for employee-oriented policies.
Recently, there have been more and more calls in legal publishing and the media for a new legal requirement in business incorporation – one that shows at first glance that the strategy of the business includes sustainable goals, for example with the introduction of a sustainable section on incorporation forms or with a section on responsible ownership. It remains to be seen if the law makers see a need for action.
A strong ESG proposal can help companies attract and retain quality employees, increase employee motivation by instilling a sense of purpose and increase overall productivity. Employee satisfaction is positively correlated with shareholder returns. Not only that, but investors and consumers are increasingly spending their money on products, brands and companies that have a strong ESG policy.
Play It Green helps companies offset their employee footprint, get access to a sustainable supply chain and receive education on how to be greener…all whilst giving to social causes!
Not only that, but working with Play It Green can help companies become B-Corp Certified to demonstrate even more, their commitment to the planet and it’s people!
Interested in developing your ESG policy – get in touch with Play It Green!