From licence-to-operate to licence-to-grow - the critical role of ESG
Tuesday, 18 May 2021: 1600-1700
Why is it taking companies so long to wake up to the value creation possibilities of ESG?
For too long sustainability has been viewed through a compliance and corporate philanthropy lens, with an objective of maintaining a firm’s licence-to-operate. The opportunity today is to flip that on its head, to turn sustainability into a licence-to-grow. Easy to say, harder to do.
Conversely consider the recent reaction by big British institutions regarding the Deliveroo IPO and their concerns around its employment practices (the “S” of ESG). This has set a clear precedent. Investors are demanding that ESG is woven into the fabric of a business. Indeed, few now can argue against the fact that a strong ESG proposition is the bedrock of a company’s long-term success.
Making sustainability, ESG, the foundation of corporate value creation and a route to growth leads to different thinking. It unleashes creativity and new models of work.
Given this, how can firms best identify what ESG areas to focus on and then how to prioritise specific initiatives? How do we marshal support and help a business understand that a strong ESG proposition makes financial sense? How do we understand what society needs from business - and vice versa? How do we avoid the silo trap and ensure we think about ESG in an integrated way? How do we effectively and transparently report, when and on what?
To discuss these and other related questions we are joined by three esteemed experts and practitioners:
· Sam White. Group Public Policy and Sustainability Director, Aviva plc
· Dame Rachel de Souza CBE. Children’s Commissioner for England
· Sue Bonney. Vice-Chair of KPMG, UK Head of ESG, KPMG
To have a listen please click on https://zoom.us/rec/share/W793F5iiluJk4TOpsuU6dS2R7rL97ew_hVINff5ASEGkpQurflpziuFGss5sNQY3.sXtRNSQqlVW72Ezi
Also, here is the link to the paper that Sue Bonney referenced on ESG metrics, well worth a read https://home.kpmg/xx/en/home/insights/2021/03/wef-ibc-common-metrics.html