Why is ESG important for businesses in BANES?

Why is ESG important for businesses in BANES?

All things ESG (environmental, social, governance) are becoming increasingly high-profile, and the say-do gap has never been wider.

By implementing sustainable environmental practices, focusing on social values and their impact on people and communities, and encouraging transparency in leadership, businesses can create tangible change.

We’ve written before about what ESG is, but there are no set, worldwide standards or regulations for compliance and reporting of ESG policy and practice. With the rising awareness of ESG, though, many businesses — even when not required to do so by law — are deciding to embody an ESG business strategy and practices into their regular operations.

While each country’s individual reporting requirements are decided by their own goals and strategies, what most agree on is that an ESG strategy is not only incredibly important for the planet and society, but also for future-proofing a business.

The importance of an ESG business strategy

With an ESG business strategy, the benefits are plenty. As well as supporting businesses in being able to operate in a sustainable way, incorporating ESG principles into your operations can enhance your reputation with both the public and stakeholders, help identify and mitigate risks, and build resilience against economic and environmental challenges.

On top of this, The SustainAbility Institutes' 2023 Rate the Raters report found that ‘many investment teams are now required by their firms to incorporate ESG ratings and data in their investment decisions.’ A business’ ESG efforts will, then, increasingly influence its ability to attract investors.

Here at Transform ESG, our team are passionate about bridging the gap between what businesses say they’ll do and what is actually done — what we call ‘the say-do gap’ — with a focus on action and engagement as key drivers for change. Through the top-down approach we take at Transform ESG and the bottom-up approach of our partners Action Net Zero, we can drive positive change at both organisational and community level.

Enabling change at all levels of an organisation is vital, to ensure that everyone has a voice, is represented, and can make a difference. Our methodology puts ESG at the heart of business and people strategy. Our philosophy is to mobilise the power that people and communities possess. Our purpose is to accelerate sustainable change.

We know that the organisations we work with are eager to operate in a way that has a positive impact, but the complexities surrounding ESG are vast — and with many different approaches and frameworks available, some businesses just don’t know where to start. Using our combined expertise, the aim is to make the complex simple. This equips businesses with a long-term strategy and a plan they can deliver on straight away.

Get in touch if you’d like to discover more about our holistic approach to ESG business strategy.

Large Business Forum (LBF) in Bath and North East Somerset

In a combined effort to drive positive change, we've partnered with University of Bath, Bath & North East Somerset (BANES) Council, and Action Net Zero to present the inaugural Large Business Forum (LBF), hosted by The University of Bath School of Management as part of The Bath & North East Somerset Business Show on 28 June 2023.

LBF, set to be the most important ESG event for large businesses in BANES this year, will bring industry leaders together to emphasise the importance of ESG for business. Experts will share insights, discuss the benefits of different ESG approaches and frameworks, and highlight the value that ESG brings to businesses. In turn, invite-only attendees will learn, connect, and collaborate with other business leaders who share a commitment to ESG principles.

Bringing about environmental and sustainable change is no easy feat, so the benefits of responsible leaders in the region working together to drive impactful change and foster a sense of community are extensive.
By coming together to engage in meaningful discussions, exchange ideas, and explore potential collaborations, we can actively contribute to creating a more sustainable future for BANES and more broadly across the South West.

If you’re a BANES business leader with a commitment to ESG principles, contact large-business-forum@business-shows.co.uk to register your interest in attending this exclusive, invite only event.