Environmental, Social and Governance (ESG) is gaining quick traction and capturing investor attention globally. Therefore, communicating the story to engage customers, investors and employees is vital. Storytelling around ESG initiatives will help organisations create clarity and accountability in a way that amplifies its ESG impact while satisfying or even exceeding demands for transparency. If you communicate your ESG company analysis and ESG implementation strategy your company will attract and retain the right customers and investors because your ESG communication strategy will be clear, concise, and genuine.
Stéphanie Luong said “Today’s stakeholders, such as governments, consumers or buyers, expect companies to go well beyond compliance and to articulate how they’re addressing major global challenges, from climate change to modern slavery. It’s no longer enough to minimise your impacts. You must show how you contribute to a better future for people and the environment. As sustainability has become a mainstream business concern, more and more companies are communicating their stories. Leading businesses are open about the challenges they face, and explain the important work they do to address complex social and environmental issues. By communicating their efforts authentically, they demonstrate credibility, and earn greater trust and recognition among stakeholder”
Communicating your ESG story can unlock huge benefits, whether you’re a large multinational or a small local business. Well-crafted communications can be a powerful tool, from attarcting the right customers, engaging employees and helping to drive change internally, to sparking stakeholders’ interest in the big milestones you’re meeting on your sustainability journey. It can also help you increase competitive advantage as your position on social and environmental issues differentiates you from
your peers. (Amfori)
If you wish to start communicating your ESG journey how your company is impacting people and planet do get in touch Here.
One of the most important advantages of ESG communications strategy is that it helps improve the company’s ESG Rating. ESG factors are used to measure the sustainability or ethical impacts of an organisation. ESG Ratings or an ESG score, in many cases, can act as a tangible indicator of a sustainability performance.
New research of consumers in 24 countries on sustainability, commissioned by Mastercard, reveals a marked increase in consumer passion for the environment as a result of COVID-19.
- A large proportion of adults (85%) state they’re willing to take personal action to combat environmental and sustainability issues in 2021
- More than half of those surveyed across the world (54%) see reducing their carbon footprint as more important now than pre-pandemic.
- Over half of those surveyed globally (54%) see reducing their carbon footprint as more important now, and almost three in five (58%) have become more conscious about how their actions can impact the environment than ever before, with Gen Z and Millennials (65%) leading this trend.
- However, as consumers become more aware of their own actions, more than three in five (62%) believe that companies should behave in more sustainable and eco-friendly ways since COVID-19, with Gen Z also leading this shift (65%).
- Global respondents also revealed that reducing waste (37%), reducing air and water pollution (35%), and tackling the issue of plastic pollution in packaging and products (35%) are the top three issues the consumers want companies and brands to focus on, in addition to dealing with the pandemic.
Governments are continuing to enact policies that prioritize sustainability. This means businesses will be expected to communicate what part are they playing in driving the sustainable agenda if they are to be permitted to operate in certain markets.
Corporate websites are ranked fourth for investors when researching and considering investing in an organisation, therefore it is crucial that this channel would clearly highlight the ESG efforts and how it relates to the business growth.
The future of ESG strategy should not just be about producing a single report once a year, but it is about finding new and creative ways to communicate such technical data to make ESG mindset the norm and not the exception.
Communique specialises in communicating Environmental, Social, Governance (ESG) strategies. Our work has impacted 150K employees, 200k customers and resulted in £300M investment deals completed. If you need help gaining buy-in from your leadership team or designing your ESG communication strategy get in touch