The Unique Benefits of ESG Consulting for Companies

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Do you run a company, organization, institution, or government department? If “yes,” the chances are that your organization or company is faced with the growing demand to operate sustainably. Unlike any other time in the past, customers and investors, among other stakeholders, are completely different today.

They demand to be convinced beyond reasonable doubt that your business or firm’s products and services are the best, especially on the focus on sustainability, which is never easy for most companies unless with the assistance of an ESG consulting firm.  

ESG (environmental, social, and governance) consulting acts as a bridge that companies can use to identify the targeted sustainable goals in line with the shifting demands to focus on the “future we want.” This means that with the help of sustainable consulting experts/ services, it is possible to craft a good organizational strategy to halt global warming and climate change on their tracks and roll back the threats facing the planet.

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It is time to stand up and get your company or business counted for its focus on countering climate change and global warming or other sustainable actions!

Emerging Trends and Facts about Sustainability 

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Sustainability is the new trend and, indeed, a force that is driving almost every industry we know of today. As we are going to see in these trends, sustainability is proving to be more profitable than anticipated. Here are some notable trends and facts: 

  • The term ESG was coined in 2005, and it has become a major alternative for corporate social responsibility in many companies. It is becoming the new framework for sustainability implementation in companies. 
  • By June 2022, the global sustainable assets had risen to USD 2.5 trillion. This is crucial, especially for companies in the investment niche, such as financial management. 
  • Over 90% of S&P 500 companies prepare and publish their ESG reports annually. This trend will increase in the coming years because most smaller businesses follow insights from the top brands to develop their strategies. 
  • About 70% of Russell 1000 companies prepare and publish their sustainability reports at the end of every financial year. 
  • The number of people willing to pay more for products made by ESG companies rose by 8% in 2022 compared to 2021. This trend is expected to increase as more people discover the benefits of buying from brands with positive environmental, social, and governance impacts. 
  • According to AY report, about 70% of companies report higher-than-expected financial gains from their ESG efforts. Smaller companies are, therefore, sure they will grow faster by following the insights from larger brands. 

Why Sustainability is So Important Today

The trends we have highlighted above show one thing: the corporate world is adrift, and it is only a matter of time before ESG becomes mandatory. The problem is that more corporations do not appear to have a clear understanding of its mechanics. To get it right and avoid getting caught unaware, it is time to go for ESG consulting services.

So, let’s first understand why adopting sustainability and working with the best ESG strategy is so crucial for your organization. 

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  • Sustainability data about your company is crucial in driving your efforts to cut down your carbon footprint. Indeed, every sustainability consulting professional will always give advisory for intensified focus on reducing GHG gasses to counter global warming. 
  • It helps in winning the support of stakeholders on the market. With ESG reporting becoming the latest trend in most platforms, including capital markets, businesses are sure to draw attention and support from stakeholders on the market. 
  • The process of change, whether on-demand or free will, becomes easy and profitable for companies that embrace sustainability.
  • Sustainability is crucial to improving employee satisfaction and reducing staff turnover. The consulting experts can help the company director, manager or other leaders with crucial skills for changing the working environment. This can help to attract better talents and reduce attrition. 

Know more about what does an ESG consultant do and ESG litigation, 2 key topics.

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Unique Benefits of ESG Consulting for Companies 

One of the most notable benefits of having an ESG consultant is that the whole process of making sustainability realistic and profitable becomes clearer. Implementing ESG procedures is challenging for many people because managers fail to appreciate that it touches on every department and unit of management. However, this is not a reason to avoid operating sustainably because there are so many benefits. 

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You only need to get and work with an ESG consulting firm. Here are some unique benefits that you should anticipate for working with sustainability consultants. 

  • ESG Consultants Help with Compliance 

As we pointed out, sustainability is now becoming a matter of compliance and there is no opting out. So, how do you go about complying with new laws? It is never easy for most managers because they are always busy working on strategies for growth. How to develop and implement an ESG plan is particularly challenging for small and medium enterprises. 

Even large firms that have dedicated more time to sustainability still find it a huge challenge. Most of them seek the help of professionals who hold their hands along the way. No matter the nature or size of your company, the best option is working with expert firms for help in calculating ESG Score + giving ESG consulting services. 

With the help of consultants, it is easy to get everything about ESG right. They have not only researched the concept of ESG but also have a lot of experience after helping other companies. Therefore, you are sure of ESG compliance right at the local and international levels.

Consulting the experts also help you to discover the non-financial side of the company and optimize the benefits.

 

  • It is Easy to Integrate ESG with Your Entire Organization’s Operations 

Sustainability cannot work if it is not incorporated in all the structures of an organization. For example, your company will not be considered sustainable if it is planting a lot of trees but at the same time releasing excessive emissions. Working with ESG consulting professionals can help you to integrate the process of sustainability, data analysis and optimize the results. 

One of the most recommended methods is putting the responsibility of sustainability management on the top leadership of the company. As a result, it becomes a common agenda, with every department being mandated to target and achieve specific goals. The expert will also help you to refine specific actions for better results. 

  • Training for ESG Planning 

Looking at the difficulties that many companies face when it comes to sustainability, one of the questions that always come up is, “why?” The problem is caused by a lack of knowledge and skills for ESG management. Without appropriate skills, there is a danger of making the wrong decisions and even getting your ESG reports labeled greenwashed. 

A consulting firm comes in handy in helping your team develop the required knowledge and skills. The experts walk with you along the way, ensuring that you are capable of handling everything related to ESG, from carrying out ESG audits to preparing ESG reports.

Therefore, the professionals are your best option in building the skills needed for better ESG score and ESG success. 

How to Identify the Best ESG Consulting Firm

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Now that you know the benefits that come from working with ESG consultants, there is one more thing: how do you identify the best? Here are some useful tips to consider: 

  • Read through reviews to identify ESG consulting professionals who have been receiving positive feedback from clients. These can help you get a better understanding of the consulting firm’s effectiveness. 
  • Confirm that the ESG consulting firm is registered to offer its services in your jurisdiction. You can do this by reaching them out via their website to view the displayed certificate, which should clearly highlight their jurisdiction. It might also be a good idea to talk to the director or customer support and enquire about the extent and reach of the services. 
  • Only work with firms capable of working with businesses in your industry. You can determine this by looking at the recent tasks that were completed by the consulting agency. 
  • The selected ESG consulting firm should have a committed advisory team and a clearly defined model for helping companies achieve their targeted goals. This should include dedicated customer support and reliable platforms for training and assisting clients. 
  • The firm should be able to work with different ESG frameworks. This is crucial because some industries work best when using specific frameworks. For example, a real estate company should give preference to the Global Real Estate Sustainability Benchmark (GRESB). So, can the consulting firm help you with its application? 

If you want to get it right on your sustainability journey, it is time to start working with experts. Contracting an ESG consulting firm can help you to realize all the benefits we have listed in this post. One of the best ESG consulting firms is BZSU. Contact the firm now for assistance in calculating ESG Score + giving ESG consulting services to help your firm realize its full potential.

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