Going green: ESG and why it matters
In our increasingly environmentally conscious world, with more emphasis on corporate and social responsibility, businesses (ourselves included) are facing a new imperative; the adoption of ESG principles.
So, what’s it all about? Environmental, Social and Governance, commonly known as ESG, represent a set of criteria that companies are encouraged to embrace to ensure their operations align with sustainability, ethics and corporate governance.
ESG principles are gaining prominence as a powerful framework guiding businesses towards a more responsible and ethical approach to trading and supplying services.
ESG isn’t just another buzzword acronym doing the rounds, it’s a fundamental shift in thinking that offers numerous benefits to businesses, society and the planet.
Breaking down ESG
Environmental (E): The “E” in ESG emphasises a company’s commitment to ecological sustainability. This may include efforts to reduce carbon emissions, conserve resources and minimise environmental impact. Businesses that prioritise the environment often adopt eco-friendly practices such as investing in renewable energy and reducing their carbon footprint.
Social (S): The “S” in ESG refers to how a business approaches societal concerns. This encompasses how an organisation interacts with its employees, customers, communities, and our broader society. Social factors include diversity and inclusion, labour practices, community engagement and ethical supply chain management.
Governance (G): The “G” focuses on the governance and ethical aspects of a company’s operations. It is concerned with how a company is managed, whether it has a transparent and accountable leadership structure and whether it complies with legal and ethical standards.
Why ESG matters
ESG matters because it represents a critical shift in how we approach business and its impact on the world. In an era marked by pressing environmental challenges, social inequalities and questionable ethics, ESG can be viewed as a compass guiding businesses towards more responsible and sustainable practices.
Aside from the morality of it, ESG is part of the bigger picture for any future-thinking business. Organisations that commit to Environmental, Social and Governance principles are better positioned to build strong reputations, attract investment and navigate the ever-changing regulatory landscape.
ESG isn’t just about doing the right thing; it’s about future-proofing businesses, promoting resilience and creating a positive impact on our planet and society. In a world where sustainability and ethics are paramount, ESG matters because it lines up business with the greater good.
Our commitment to ESG
We have long been recognised as the “green” umbrella and now it’s about more than just our brand colours!
At Liquid Friday, we see ESG as playing our part to preserve the planet for future generations.
Our ESG strategy focuses on reducing our carbon footprint, conserving resources and embracing sustainable practices across our operations.
We firmly believe that by setting measurable, achievable ESG goals we’re not just building a more successful business, but a better world.
We have set a target to achieve NetZero and until we achieve that we’re investing in sustainable tree planting in partnership with Switch2Zero who fund reforestation projects all over the world to offset our carbon impact.
Our most recent ESG “little win”, is to work with our building owners to switch fully to 100% renewable energy from October 2023!
Find out more about our ESG strategy at https://www.liquidfriday.co.uk/environmental-social-governance/