Support Business Continuity by Embracing ESG

Today businesses find themselves deeply intertwined with environmental, societal, and governmental concerns. From an ongoing pandemic to the inevitable effects of global warming to changing norms, companies are facing new risks if they ignore what is happening in the world around them. With this risk comes an opportunity to potentially benefit from growing ESG interests. Ignoring these interests and growing global concerns could have major implications on a company’s operational resilience. That is why today’s investors are looking for holistic organizations as they implement their investment decision-making process. No longer can businesses stand with just the bare minimum, instead investors are requiring the whole ESG package. 

Matching Practices with Community Expectations

Change often comes from within and the average customer is showing interest in what their favorite brands are doing. With the escalation and awareness of global problems, consumers have started to redefine what they deem important from companies. This shift has highlighted the realities of ignoring ESG for companies. Thinking creatively about how to mitigate growing risks with ESG can be the difference between business continuity and failure. 

76% of customers will discontinue relationships with companies that treat the environment, employees, or the community in which they operate poorly

The overwhelming majority of today’s consumers are reportedly willing to end their relationships with companies that treat the environment, employees, or the community in which they operate poorly. By showcasing transparency with ESG reporting, your organization can build the trust that is needed to maintain customer loyalty amidst the new community expectations.  

The Realities of Climate Change

Many businesses are reworking their internal operations to acknowledge the need for climate action. As the push to combat climate change shifts from an individual to a community effort, companies need to actively do their part. From President Biden’s federal sustainability plan to the anticipated global regulations that are expected to support lowering carbon emissions across the world, the case for moving toward a strong ESG framework becomes more compelling each day.  

Put Your Company’s Sustainability to the Test with Our Sustainability Scorecard

The best way to support the environmental component of ESG risk mitigation is to develop a reliable sustainability plan. This however requires a comprehensive analysis and understanding of your carbon footprint. While starting an ESG reporting journey can be daunting, companies need this to ensure business continuity. By approaching the realities of climate change strategically, you can show investors and stakeholders why your business is ahead of the ESG curve and the realities of doing business in an ever-shifting world.  

ESG Risk Mitigation with Utility Data

Apart from the overwhelming push from community expectations or the realities of climate change, studies show that successful ESG management is linked to cash flow. Mitigating ESG risks is not only important for investors, but for your company’s overall revenue. With the right reporting, you’ll be able to reduce costs, optimize investment in capital, and even minimize potential regulatory and legal interventions. As your organization works to mitigate ESG risks there is potential to facilitate top-line growth. 

It’s also important to remember that mitigating ESG risks can lead to rewards from investors. Just last April investors rewarded the multinational oil company BP when they outlined a detailed plan to invest around $5 billion a year in renewable energy. Today’s investors care about ESG risks and reporting gaps, that’s why a streamlined process is vital to business continuity when it comes to sustainable ESG reporting.

Whether you’re a CEO or a sustainability analyst, at the foundation of your planning, you’ll need reliable data. With a transparent program, your organization will be able to get a better understanding of your data’s history, what it is doing today,  and clearly see the potential for the future. As policies continue to emerge and investors continue to ask questions related to ESG, Urjanet’s Utility Cloud is here to help. If you’re ready to mitigate your ESG risks with reliable utility data contact one of our utility data specialists today.

YOU MIGHT ALSO BE INTERESTED IN:

• Powering Investor-Worthy ESG Reporting
• How Utility Data Can Support Climate Action
• Why Sustainability is Good for Business

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