Kirey Group’s Post

From CSR to ESG Growing concerns over resource consumption, environmental degradation, and social inequality are increasing attention on sustainability and corporate reporting. CSR (Corporate Social Responsibility) and ESG (Environmental, Social, Governance) differ significantly. CSR is qualitative and voluntary, focusing on philanthropy and integrating social and environmental concerns into business operations. ESG is quantitative, providing measurable sustainability metrics and impacting financial performance. Sustainable innovation is crucial, driving companies to create eco-friendly products and practices, enhancing their ESG ratings. The EU’s CSRD, effective from 2025, mandates detailed ESG reporting, reflecting this shift towards accountable, sustainable business practices.

🌱 ESG: Turning a Liability into a Strategic Business Opportunity 🌱 In today's business world, sustainable development and social responsibility are no longer just expectations—they're standards. ESG reporting is now a cornerstone of corporate strategy, allowing companies to document their activities in environment, society, and governance, demonstrating their commitment to sustainable development, and effectively communicating it outside. While it's a regulatory obligation, it also presents a strategic opportunity. Polish companies are stepping up to meet ESG reporting requirements, responding to regulatory changes and social expectations. According to the report "Navigating ESG: ABSL's 2023 Overview," over 70% of companies in Poland's business services sector have integrated global ESG strategies locally, with 61% having specific implementation plans. However, readiness varies, highlighting the need for time, understanding, and commitment for effective ESG activities. 💡 Insights from Capgemini Polska: •  ESG reporting isn't just about regulation; it's an opportunity to optimize processes, increase operational efficiency, and build trust among customers, employees, and investors. •  Companies not directly obliged by ESG directives but within supply chains also recognize the importance of compliance, knowing that failure can lead to competitiveness loss and negative market reactions. •  Access to the right tools and technologies is crucial for effective ESG reporting. This includes solutions for data collection, analysis, and presentation, enabling not only regulatory compliance but also further sustainability planning. Awareness and involvement in ESG activities are growing, influencing not just company policies but also everyday functions. Investing in sustainable development today are not only meeting current requirements but also shaping the future business landscape. The transition to sustainable business models is becoming the norm, creating new growth opportunities. Integrating ESG principles into daily operations not only meets legal requirements but builds lasting business value. Companies that actively include ESG in their strategy adapt to current requirements and shape a future where sustainable development is the foundation of success. 🚀 Example Actions: •  KLM's initiative to reduce food waste on flights by aligning meal supply with passenger demand. •  Capgemini's support in optimizing processes to reduce carbon footprints associated with business travel. In summary, ESG is more than an obligation—it's a strategic opportunity. Companies embracing ESG practices are protecting the environment, improving society, and paving new paths for growth and innovation. The shift to sustainable business models is not just expected by the market but is key to building a competitive edge in today's business landscape. Read more 👇 #ESG #Sustainability #BusinessGrowth #Innovation #SustainableDevelopment #CapgeminiPolska 🌍✨

Can’t agree more with these words: “true sustainability lies in corporate #strategy and leadership that create lasting #value for #society and the #environment. Only an integrated and conscious approach can #transform sustainability into a #competitive #advantage rather than a mere obligation”.

Setting new standards in sustainable healthcare! Watch how Burjeel Holdings achieved the highest ESG rating, driving a healthier and more responsible future. #SustainableFuture #BurjeelHoldings #AAA #ESG #MSCI

BSI India's recent Sustainability Roadshow inaugural session was a phenomenal success! 🌍 Led by the insightful Raghavan Nair Reghu Kumar, we delved deep into ESG reporting and more, setting the stage for future sessions. 🚀 Prominent organizations from across India joined us on April 23rd 2024 for this enlightening discussion. If you missed out, catch the session replay: https://bit.ly/3wcy1q5 Don't miss out on future sessions - stay tuned for updates! #Sustainability #ESG #sustainabilityroadshow #thoughtleadership #BSIINDIA 🌿

Check out this upcoming webinar on global #esg trends from S&P Global: “As 2024 gets underway, we’ll unpack the essential sustainability trends that are driving and impacting a timely transition in our upcoming webinar. Register now to join the virtual conversation or receive a copy of the on-demand replay. Don’t miss for the first episode in our Beyond ESG webinar series of 2024, where S&P Global thought leaders will focus on: -The commitments and outstanding action items from COP28 in Dubai -The sustainability risks that are most pressing, and how companies are looking to manage these risks and opportunities -The evolving disclosure standards that will impact both companies and investors” https://lnkd.in/dJmhB_du Shapiro - Partners Today. For Tomorrow. #sustainability

Setting new standards in sustainable healthcare! Watch how Burjeel Holdings achieved the highest ESG rating, driving a healthier and more responsible future. #SustainableFuture #BurjeelHoldings #AAA #ESG #MSCI

#CorporateConnect Exhibition Showcase Magazine had an exclusive chat with Shaayak Chatterjee, founder, Breathe ESG. Watch out as he shares his insights on introduction of #sustainability in corporates. Raghav Khosla Tarang Khosla Dharam Dutt #BreatheESG #CorporateSustainability #GreenBusiness #ESG #SustainableFuture #EnvironmentalImpact #CorporateResponsibility #SustainableGrowth

What can we expect re: the Top 10 Trends in ESG? This article by Paulo Andrade de Oliveira, MBA, Founder of alma mundus, provides a deeper explanation of the following 10 trends: 1)Regulatory Evolution 2) Net-Zero Pledges 3) Social Dimension 4) Sustainable Finance 5) Circularity in Business 6) Investment Integration 7) Stakeholder Inclusiveness 8) Supply Chain Transparency 9) Biodiversity Concerns 10) Reporting Technology Top 10 ESG Trends for 2024: Moving Towards Sustainability. https://lnkd.in/g8K9xCmJ #esg #sustainability #lawandlegislation

Sometimes, there are concepts & models that ARE inherently good. They have purpose. When applied within their accurate context,they have great benefit. The issue comes when such models are stretched thinly, far beyond their intent, or when they are older ideologies that are repackaged in shiny bags & marketed for skewed purposes. ESG ....and HOP have morphed into two such things. Yes. I said it. ESG has its roots in the early 2000's, the term was coined in a UN report titled "Who Cares Wins". It came after the 8 MDG's were developed. Then, in 2015, 17 SDG's replaced MDG's. The SDG's had 169 specific targets. With that development, ESG faded as a talking point and morphed more into measurable aspects. In 2017, 140 CEO's signed the Compact for Responsive and Responsible Leadership, which was drafted by the World Economic Forum. In that document, they pledged to achieve the UN's SDG's... then the pandemic came & tested that resolve. What was noted was that companies with strong ESG strategies were better able to navigate the pandemic and other distruptors. Now, the CSRD, SEC have either required or are entertaining the concept of requiring certain companies to report their ESG performance. All that to say, that ESG is not new. It does not just come down to a few policies being written, recycling bins & energy efficient lighting being installed and a few photos of handing hampers out to the community in order to hit ESG targets. It also was never intended to become a cash cow or self promoting venture for all of the newly declared "ESG experts", SOME of whom may benefit from transparently & honestly reflecting on the following: ◇If your ESG goals do not consider MDGs or how they can still be considered along with SDG's, or why NCD'S are not interwoven into the 169 specific targets.... ◇If you do not accept that ESG, (great as it is within its boundary), is but a SUBSET of what needs to be considered for true Business Excellence (which is the broader framework and not to be confused with Operational Excellence). ◇If you cannot see why aiming to package it as a panacea for all/ most of the pain points plaguing corporate & public entities today will cause undeniable and detrimental blind spots... ...then we have devalued its worth by morphing it from being a sensible & noteworthy PIECE in a solution-oriented puzzle, to it just being the next big fad that businesses latch onto, but never quite get the alchemy right in order to turn it into gold. See ESG in its totality, depth and scope for what it is. Note it's value AND it's limitations. Supplement it with other aspects of the Business Excellence Framework it simply does not cover... & do so without seeking to make it a core revenue-generating doppelganger of itself in the process. Then and only then will the intended purpose of ESG, as coined by the United Nations will be materialized. I will address HOP in another post, because that is a situation on it's own.