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Sustainable Governance and Compliance
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ESG (Environmental Social Governance) criteria are a set of parameters that can be integrated into a company’s strategy. With ESG criteria, companies partly fulfill their legal obligations. To some extent, it is about the economy’s voluntary contribution to sustainable development in all respects above and beyond legal requirements. This includes, for example, an organization’s carbon footprint. ESG consists of criteria that are used by investors to evaluate a company. A lack of ESG management can lead to a poor assessment of the company by investors or a lack of appreciation for the company by employees and consumers.
The ESG criteria include environmental, social and governance criteria. The criteria are attracting increasing attention from both companies and consumers. They are increasingly drawing attention from a wider audience due to the growing public importance of issues such as climate change and respect for human rights.
Examples of ESG with regard to the Environment (“E”)
These criteria include climate change mitigation, adaptation to climate change, sustainable use and protection of water and marine resources, transition to a circular economy, prevention and reduction of pollution, and protection and restoration of biodiversity and ecosystems. Examples include:
Examples of ESG with regard to Social aspects (“S”)
Examples of ESG with regard to Governance (“G”)
Governance criteria relate to aspects such as the management of a company. Important topics in this context include internal structures as well as controls and practices for compliance with regulations and guidelines. Examples include:
Governance Risk Compliance summarizes a company’s three most important levels of action for successful corporate management. The model can contribute to smooth cooperation between locations and departments at home and abroad.
Governance refers to the management of a company through defined guidelines. These include the definition of corporate objectives and strategy, the methodology for implementing corporate objectives and the planning of the resources required to achieve these objectives.
Risk refers to risk management. This involves identifying and dealing with risks. This can include an analysis of potential risks, the development of strategies to minimize risks and the establishment of a suitable way of dealing with the occurrence of a loss. Compliance involves adherence to internal and external standards that are mandatory for the company or are voluntarily observed by the company.