How do you influence ESG stakeholders?

1 Understand your stakeholders

The first step to influence your ESG stakeholders is to understand who they are, what they expect from you, and how they evaluate your ESG performance. You can use stakeholder mapping tools, such as the power-interest matrix or the salience model, to identify and prioritize your key stakeholders based on their level of influence, interest, legitimacy, urgency and power. You can also conduct surveys, interviews, focus groups or workshops to gather feedback and insights from your stakeholders on their ESG concerns and preferences.

2 Define your ESG goals and metrics

The next step is to define your ESG goals and metrics that align with your business strategy and values, as well as with the expectations and standards of your stakeholders. You can use frameworks, such as the Sustainable Development Goals (SDGs), the Global Reporting Initiative (GRI), or the Task Force on Climate-related Financial Disclosures (TCFD), to guide your ESG goal setting and reporting. You can also benchmark your ESG performance against your peers, competitors and industry best practices, and set SMART (specific, measurable, achievable, relevant and time-bound) targets and indicators.

3 Communicate your ESG story

The third step is to communicate your ESG story in a clear, consistent and compelling way to your stakeholders. You can use various channels and formats, such as reports, websites, newsletters, social media, webinars, podcasts or events, to showcase your ESG achievements, challenges and opportunities. You can also use storytelling techniques, such as narratives, visuals, data, testimonials or case studies, to illustrate your ESG impact and value proposition. You can also tailor your ESG messages and tone to suit the needs and interests of different stakeholder groups.

4 Engage your ESG stakeholders

The fourth step is to engage your ESG stakeholders in a dialogue and collaboration to build trust and loyalty. You can use platforms and tools, such as online forums, surveys, polls, feedback forms or chatbots, to solicit and respond to your stakeholders' questions, comments and suggestions. You can also invite your stakeholders to participate in your ESG initiatives, such as co-creating solutions, joining campaigns, volunteering or donating. You can also recognize and reward your stakeholders for their ESG contributions and support.

5 Monitor and improve your ESG performance

The final step is to monitor and improve your ESG performance based on your goals, metrics and stakeholder feedback. You can use software and systems, such as dashboards, scorecards, analytics or audits, to track and measure your ESG progress and impact. You can also use tools and methods, such as reviews, evaluations, audits or benchmarks, to identify and address your ESG gaps and risks. You can also use learning and innovation, such as research, training, best practices or pilots, to enhance your ESG capabilities and outcomes.