In recent weeks we have looked at the opportunities and challenges we foresee for 2023 in the sectors we work in and how we can help you progress and be successful in your sustainability journey. We now shine a spotlight on some key expertise areas where our trusted advisors are leading the way. This week we shine a spotlight on ESG.
Also in this series
- Part 1 – Overview
- Part 2 – Offshore Renewables
- Part 3 – Onshore Renewables
- Part 4 – Corporate, Industrial and Manufacturing
- Part 5 – Property & Urban Regeneration
- Part 6 – Spotlight on Environmental Planning
- Part 7 – Spotlight on Digital
Environmental, social and governance (ESG) expectations are continuing to evolve. The pandemic was a catalyst for many organisations to prioritise ESG goals and performance. Since developing ESG-related strategies and implementing correlating practices, organisations have realised decreased costs through improved efficiencies as well as increased revenue growth through enhanced stakeholder confidence. While cost reductions and improved bottom-lines will continue to be key drivers for ESG programmes, pressures from the war in the Ukraine, inflation, technology and regulation are changing how ESG performance is viewed and managed.
ITPEnergised’s ESG team is at the forefront of understanding how ESG is evolving. We help clients proactively prepare for change in order to maximise benefits from ESG. Our services look to integrate and complement client’s operational ambitions through:
- Strategy Development and Performance Management including business objectives and stakeholder expectations review, performance standards and management systems, reporting frameworks and benchmarks, and impact principles.
- Impact Investing frameworks, benchmarks, measurement and improvement programmes.
- Stakeholder Engagement with investors, communities and NGOs including government impact evaluations and reporting.
- Carbon Strategy emissions foot-printing analysis, management, reduction and offsetting; strategy reporting and benchmarking.
- Compliance and Diligence licensing, permitting, planning, impact assessments and due diligence.
Optimising benefit and value from ESG performance in 2023 is tied to two key areas: net zero investment as well as disclosure and regulatory obligations.
Continuing to reduce carbon emissions and following through on net zero pledges is expected by stakeholders, including investors, consumers and policymakers. In 2023, organisations that continue to follow through on their climate commitments, including emissions foot printing or measurement, target development and evaluation of emissions reduction technologies, will realise stronger benefits and be well positioned for regulatory reporting requirements.
Further formalised reporting requests and increased regulations are also expected in 2023. As part of this, organisations will continue to feel the pressure of increasing liability and risk associated with claims and statements. The need to complete due diligence and provide evidence of risk management will increase. Further oversight will also be required from board, executive and legal teams.
You can download a PDF of this article here.
For more information on this popular service, please reach out to Katie Jeffery for a chat at katie.jeffery@itpenergised.com.