ESG is a framework used by investors, companies and other stakeholders to evaluate the sustainability and societal impact of an organization. The components covered under ESG may include:
Environmental Impact: - Natural environment, including its carbon footprint, energy use, waste management and resource efficiency.
Social Impact: - People, including labour practices, human rights, diversity and inclusion, community engagement, and consumer protection.
Governance: - Focus on the systems and processes that a company has in place to ensure ethical and responsible behaviour, including board diversity, executive compensation, anti-corruption policies, and shareholder rights.
Global Reporting Initiative: GRI Standards cover a broad spectrum of sustainability issues faced by organizations and global community. GRI sustainability standards are designed to help organizations report on their ESG performance in transparent and consistent manner. The GRI standard covers wide range of ESG topics, including climate change, human rights, labour practices, supply chain management and more
Using GRI Standards, organization can assess their ESG performance, identify areas for improvement, communicate their ESG performance to stakeholders. This can help organizations improve their sustainability practices, increase their credibility with stakeholders and drive positive social and environmental impact.
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