Environmental, Social & Governance (ESG) is a framework used to assess an organization’s business practices and performance on various sustainability and ethical issues. It also provides a way to measure business risks and opportunities in those areas. In capital markets, some investors use ESG criteria to evaluate companies and help determine their investment plans, a practice known as ESG investing.
While sustainability, ethics, and corporate governance are generally considered to be non-financial performance indicators, the role of an ESG program is to ensure accountability and the implementation of systems and processes to manage a company’s impact, such as its carbon footprint and how it treats employees, suppliers, and other stakeholders. ESG initiatives also contribute to broader business sustainability efforts that aim to position companies for long-term success based on responsible corporate management and business strategies.
The Three Pillars of ESG
Environmental
- Energy usage and efficiency
- Climate change strategy
- Waste reduction
- Biodiversity loss
- Greenhouse gas emissions
- Carbon footprint reduction
Social
- Fair pay and living wages
- Diversity, equity and inclusion
- Employee benefits
- Workplace health and safety
- Community engagement
- Responsible supply chain partnerships
- Adhering to labor laws
Governance
- Corporate governance
- Risk management
- Compliance
- Ethical business practices
- Avoiding conflicts of interest
- Accounting integrity and transparency
We are looking for organizations that are paving the way for ESG. This special OCBJ section will recognize the efforts of an entire company to set a positive example to shareholders, other companies, and the public for what it means to be a socially conscience organization in 2023.
NOMINATION DEADLINE EXTENDED: October 4, 2023