ESG Roadmap & Rollout
A practical roadmap for addressing an organization’s ESG (Environmental, Social, and Governance) issues always begins with understanding its current performance. Then, conducting an ESG benchmark against the industry or leveraging the organization’s self-assessment can be leveraged as a starting point. Typically this would require a firm to:
- Establish ESG goals and KPIs: Based on the assessment, establish specific, measurable, and time-bound ESG goals and targets. The goals should align with the organization’s values and priorities and be relevant to stakeholders. These goals should be informed by employees, customer feedback, and public data.
- Develop ESG policies and programs: Develop policies and programs to achieve ESG goals and targets. The policies and programs should cover all aspects of the organization’s operations and activities.
- Implement and monitor ESG initiatives: Implement the ESG policies and programs, and monitor their progress. Regularly review the ESG initiatives to ensure they are effective and making progress towards the established goals and targets. Identifying the correct data sources and selecting a technology solution here can be critical to this stage.
- Engage with stakeholders: Create a communication strategy to facilitate implementation and cement learnings and best practices.
- Report on ESG performance: Decide on the most effective disclosures to adopt and draft submissions. The report should be transparent, credible, and accessible to stakeholders.
- Continuously improve: Embed the organizational practices (systems and governance) that enable ongoing monitoring and improvement of the agreed ESG strategy.
By following a roadmap, an organization can effectively address ESG issues and demonstrate its commitment to sustainability, social responsibility, and good governance.
October 12, 2022