Till the late last century, the environment was practically on no one’s agenda. It was meant for exploitation. The same goes for sustainability as the needs of future generations and their safety was completely overlooked. Governance meant bare minimum compliance with the law as companies actively searched for ways to exploit gaps in regulations in pursuit of maximizing their profits.
Globally the state we are in the early 21st century is primarily due to not listening to our conscious. Sacrificing long-term values to meet short-term interests. Climate change and pollution have pushed humanity into acorner. We must either take decisive action or face extinction. The true value of ESG can be derived only when we go beyond lip service. Our effort must be genuine and tangible; relying solely on managing appearances will fall short. As more entities jump onto the ESG bandwagon we need to also understand the history of such organisations. Consulting firms engaging in ESG projects for their clients should uphold transparency in their methods and steer clear of practices that have previously contradicted the principles of ESG ethics. All entities (including Consultancies) need to showcase how they in their regular functioning have incorporated ESG principles. How has their approach evolved over a period of time and aligns with the REST framework:
R – Resilient
E – Evolve
S – Sustain
T – Transparent
Resilient- The process and systems being deployed need to provide fresh direction for the world to grow in. Need to be resilient as going back to the older ways of doing things will not bring in the change we expect. Evolve- In today’s world tech is evolving fast however processes and systems also have to keep pace with the change. Sustain- We need to participate in the circular economy and ensure as a
community we reach Net Zero goals. Transparent- Our actions and thoughts behind them need to be transparent. Just meeting bare minimum compliance goals may not suffice.
Environment Social Governance (ESG) principles constitute a fundamental lifestyle ethos that should be embraced by all individuals. Recognizing our responsibility as stewards of resources essential for the planet’s future, we must acknowledge the pivotal role we play in ensuring its continued existence. Join hands with us to contribute towards creating a more beautiful world through the principles of Environment, Social, and Governance (ESG).