More and more stakeholders are demanding businesses become more sustainable. But is it feasible at your organization?
Environmental, social, governance (ESG) is an intimidating world to try and branch into. There are a lot of cleantech organizations out there doing good work on this front. But as more and more organizations try to jump on the bandwagon, myths have started to crop up.
As the CEO and founder of FigBytes, an ESG insight platform, Ted Dhillon has heard a ton of these myths regarding the world of eco-friendly initiatives. You don’t have to be a cleantech company to get started working ESG into your company.
In a recent piece in Forbes, Ted shared some words of wisdom on which ESG myths leaders should ignore:
"Myth 1: We need to set 2050 climate goals for our company.
"Instead of trying to look 10 or 20 years into the future, set targets within a smaller time frame — one that you can realistically work towards.
"Only 27 out of 250 of the biggest corporate emitters have set goals for 2030 as opposed to 2050. Big picture goals are important, but to stay accountable and make progress, these short-term goals are crucial. I would recommend making goals for every year, every three years or whichever shorter interval suits your goals best.
"Myth 2: Our actions won’t affect the impacts of climate change.
"It’s easy to point fingers and rid yourself of responsibility. But this is the equivalent of “he started it," “I did better than her" or “everyone else is doing it." Basically, it’s a child’s excuse.
"No matter the size, location or focus of your company, your actions to mitigate climate change are worth something. Consider your supply chain and vendors. See if supplies and resources can be sourced more sustainably, focusing on their origin or raw materials.
"Myth 3: We have eco-friendly initiatives in place, so we’ve done our part.
"You’re recycling, you’ve partnered with more eco-friendly suppliers and you’re setting realistic goals. You’re done, right? Almost. By gathering and analyzing data around these actions, you can share and improve on your actions."
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