The ESG compliance may seem like a lot of work, but it is essential for companies to follow the environmental, social, and governance guidelines mandated by regulatory bodies and frameworks, and requested by the people using the products and services of those companies.
But there are benefits to having internalised the ESG principles and comply with them:
📈 ESG strategies can significantly impact a company's operating profits by up to 60%, as per McKinsey. Companies with higher ESG scores tend to have more satisfied employees, with average ESG scores 14% higher than the global average.
🛒 A large majority of consumers (83%) believe that companies should actively shape ESG best practices, and a similar number of business leaders (91%) feel that their company has a responsibility to act on ESG issues. Additionally, 86% of employees prefer to work for companies that care about the same issues they do.
🙅🏼Consumers are also more likely to boycott companies that don't treat the environment, employees, or community well, with 76% saying they would stop buying from such companies.
🎯 According to a survey by OnePoll, 81% of companies have a formal ESG program, but only half of them believe they perform effectively against environmental metrics. Furthermore, less than 40% of companies rate their performance against governance and social issues as very effective.
👱🏼 Millennial leaders tend to be more supportive of ESG initiatives than their older counterparts, with 64% of millennials believing that companies should have ESG programs. The ESG debt market is rapidly growing and has surpassed Bloomberg Intelligence's predictions, with a potential market size of $15 trillion by 2025.
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