Environmental, Social, and Governance (ESG) might not be a phrase you’ve heard before, but the rating system that it stands for has been central to helping corporations all over the world improve their social and environmental impact.
ESG provides a framework across three core areas that allow companies to quantify and track their social and environmental footprint on top of their financial reporting.
The Three ESG Pillars of Accountability:
Environmental: Harm to nature and the environment should not be an inevitable consequence of corporate practices. Instead, it is time for businesses to be a part of the solution to protecting our ecosystems and tackling the climate crisis.
Social: Corporations should build in practices that promote equality, avoid perpetuating damaging power systems, and positively impact the communities they work in. Having reporting methods on fair pay, diversity inclusion, and corporate social responsibility all contribute to making this a reality.
Governance: International and national regulations around good governance work best when companies are transparent and accountable. ESG helps keep standards in corporate practice high by rating corporate performance against honest and trustworthy governing practices.
ESG pillars stand at the heart of WWT’s vision to make a new world happen.
Environmental, Social, and Governance are core pillars for responsible business practices. Find out how WWT makes them central to its model – take the quiz!