What’s the buzz about Environmental, Societal and Governance assessments (ESGs) for business and what does it have to do with renewable energy?

An ESG assessment demonstrates the impact your business has on the environment, society and governance. It shows all stakeholders that your business is meeting its social and legal responsibilities and taking measures against future risk.  An ESG is essential for your business and switching to solar can help boost your ESG profile. Here’s how:

Shore up your reputation

Consumers, investors, employees and even the general public are increasingly choosing companies that meet their ethical responsibilities. A good score on an ESG assessment reassures everyone that you are concerned about your company’s impact on the world around you. Businesses using renewable energy sources like solar can tick the box for sustainability and give customers a chance to buy from a business that aligns with their values.

Energy Partners - Brisbane solar, ethical business

Encourage better business practice

An ESG assessment helps identify gaps in your company’s performance, meaning you can better allocate resources to see real improvements in your company’s output. In terms of energy production, an ESG assessment might recommend a switch to solar, saving money that could be reallocated elsewhere in your business.

Increase your Transparency

Transparency breeds trust. An ESG leaves no stone unturned when it comes to your company’s environmental and societal impact, building trust and accountability between your business and your stakeholders. Don’t hide your light under a bushel when you switch to solar – make it a highlight of your ESG.

Manage future risk

An ESG assessment identifies areas that may pose a risk to your company in the future. Businesses that implement an ESG can better mitigate risk to ensure their long-term sustainability. Climate-related risk is a major factor impacting many businesses, and installing solar is a great way to future-proof your company’s return.

Better compliance

Companies who implement an ESG are more likely to comply with environmental and social l regulations because the assessment provides clarity around their legal obligations. A compliant company is a productive company.

Lure new investors

Investors are increasingly choosing businesses with good ESG profiles because they are seen to be more financially stable and productive in the long-term. Companies that use solar energy are likely to rank highly in an ESG assessment, satisfying both their environmental responsibilities, and their investors.

Decision-making prowess

An ESG assessment shows customers and investors that you’re serious about implementing best practice approaches informed by evidence. Businesses that have already made the switch to solar energy are a good example of how acting on evidence-based approaches can improve the company’s bottom line while also meeting its ethical responsibilities.

In real terms, an ESG assessment benefits your business by highlighting the ways that you meet and exceed your responsibilities to the environment and the public. It shows stakeholders you’re ready to meet the challenges of a changing world, and gives customers peace of mind that they’re dealing with a transparent and accountable operator. If you would like to find out more about making your business more sustainable, I invite you to book a free 15 minute energy audit or get in touch here.

Gallery.


Jay Dean

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