With the growing empahsis on environmental impact of businesses, the latter are rising up to the challenges, not only of emissions but the direct carbon footprint of their company’s operations. Ecological sensitivity has engulfed corporates too as the business environment witnessed integration of ESG concepts into their enterprises.
This is being undertaken by pursuit of goals that transcend reputation management or count as corporate social responsibility. For instance, conserving energy, building a green portfolio, sustaining a workforce, keeping the work force adequately motivated. All of this can aid firms capture value through growth and output on the capital invested. Companies are beginning to understand and manage concerns pertaining to it. The latest developments reflect that an increased number of employees have reported to be of the view that ESG initiatives make a positive contribution to their organizations’’ short and long-term value
Organizations have been imbibing it through processes. More and more employees have begun to contend that their firms have integrated clean governance practices into strategic planning. The domains where green practices have most penetrated into is mission and values which is preceded by external communications. The spheres where it is least integrated include supply chain management and budgeting.
Keeping all these aspects in mind, sit is rather disappointing that it still eludes a pride of place on CEOs agendas. Also, a prominent fact is despite the thrust on ESG, very few companies have formal programs to execute the vision