DRIVING SUSTAINABLE
CHANGE TOGETHER

Products of change. News

Growth of ESG governance

Tue 12 Jan 2021 | 02:52 pm GMT
Michelle Urquhart | Products of Change Writer

ESG should be integrated into business at board level

With ESG (environmental, social and governance) being of growing importance in the boardroom, what does it all mean? In the past, it was often the case that the board existed mainly for the purpose of added value for shareholders. But not so anymore, with more and more companies globally adopting mandates to address environmental, social and governance to look further ahead than shareholder value and really integrate ESG best practices into business models. A report from a virtual conference on ESG governance released late last year from Governance Professionals of Canada illustrates just how much ESG has moved on over the past year, given the background of COVID-19, Black Lives Matter and climate change. The report states: “More companies are adopting a societal purpose as the reason their companies exist. There is an emerging expectation that boards approve and provide oversight of the company’s purpose. Shareholder primacy is being questioned - instead, companies need to be responsive to stakeholders, creating broader value to society, not having a sole focus on profit for shareholders.” There is ESG regulation in most markets, forcing capital markets to think of their purpose which includes sustainable outcomes. For example, South Africa requires integrated reporting (in which companies disclose their financial and non-financial performance in one report) and requires boards to have ESG committees. One of the main messages from the virtual conference and the report was that companies and boards should not see ESG as a risk to the business, but rather as a source of value creation. Read the full report here Image credit: Business photo created by freepik - www.freepik.com
related articles
Rolling the dice on climate change

New Kickstarter campaign empowers children to imagine a better world with environmental storytelling dice game.

Read More

Thu 06 May 2021 | 06:19 am GMT

EDUCATION
Sustainability in Licensing Conference kicks off

Delegates from over 20 countries come together to focus on sustainability and environmental change in the two-day Sustainability in Licensing Conference being held digitally.

Read More

Thu 24 Jun 2021 | 06:12 am GMT

EDUCATION
Broadcasters join environmental news consortium

ITN, BBC, ITV News, Sky News and Channel 4 are among the first broadcasters to join the albert news consortium which will focus on reducing the impact of news production and creating climate-related content.

Read More

Wed 03 Feb 2021 | 12:25 pm GMT

EDUCATION
What is Products of Change?

Make a difference to your carbon footprint this year. Joining Products of Change gives you access to all the latest thinking, learnings and best practice in sustainability across all manner of consumer products markets

Read More

Thu 07 Jan 2021 | 07:58 am GMT

EDUCATION
Most read stories
Unilever commits to fair living wage

Ambitious commitments and actions include ensuring that everyone who directly provides goods and services to Unilever earns at least a living wage or income by 2030

Read More

Fri 22 Jan 2021 | 07:57 am GMT

FMCG
Doing sustainable business in China

Products of Change members can join a Zoom meeting on Wednesday 21 April to hear from the Chinese Ministry of Ecology and Environment.

Read More

Tue 20 Apr 2021 | 05:46 am GMT

NETWORKING
Danilo reduces cello wrap on cards by 85%

Danilo's Claire Bates and Dan Grant talk to Products of Change about sustainability and how retailers, licensors and licensees can come together to deliver products that are commercial and sustainable.

Read More

Tue 16 Mar 2021 | 12:45 pm GMT

NET ZERO
Zuru saves 1,200 tons of virgin plastic

Leading global manufacturer Zuru has removed over 1,200 tons of virgin plastic from its top-selling and 100% recyclable Bunch O Balloons brand.

Read More

Tue 18 May 2021 | 11:54 am GMT

TOYS
New online retailer focuses on sustainability

Dayrize will meet the needs of the consumer who wants to buy sustainable products but finds it difficult to make sense of the many labels and claims.

Read More

Wed 23 Jun 2021 | 07:35 am GMT

RETAIL
Brits want food wrapped in compostable packaging

New poll finds more than eight-in-ten would rather their food was wrapped in compostable packaging than in traditional plastic.

Read More

Tue 06 Jul 2021 | 11:27 am GMT

PACKAGING
Govt report puts nature at the heart of economics

A fundamental change in how we think about and approach economics is needed if we are to reverse biodiversity loss says the Dasgupta Review, an independent report commissioned by HM…

Read More

Wed 03 Feb 2021 | 12:16 pm GMT

RESEARCH
Spotlight on saving water

It’s Water Saving Week championed by WaterWise, an NGO focused on reducing water consumption in the UK.

Read More

Thu 20 May 2021 | 08:00 am GMT

EDUCATION