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The Place of Accountability in Adapting ESG Initiatives
The question I have heard most frequently in the last decade has had to do with the Optiven role in corporate growth. Interesting that this crops us around this season when the world congregates in Baku, Azerbaijan to discuss three key aspects that will shape the future.
A lot of climate talk has preceded the arrival of delegates in the Asian country although there is more to the 29th session of the UN Climate Change Conference. The key role for participants is to represent their countries as they also submit climate plans in the form of the next round of Nationally Determined Contributions to #ClimateAction (NDCs) in 2025. The bottomline however is how can environment, social and governance initiatives lead to profitability?
While majority of the corporates all the way to the emerging medium and small enterprises, the focus seems to be on a minimum compliance with little to show for what has been done. The mirage of our time then is when corporates use their narrative of what has been done on environment, social and governance as a corporate growth strategy.
Why do they do this?
- Stakeholders are able to understand the company’s insights where sustainability impact is concerned.
- Environment, social and governance reports are windows to how a company approaches and applies its sustainability plans
- Partners, suppliers and investors are able to assess risks and take advantage of the opportunities
Another key success component for ESG is inclusivity capped with the need for all the voices with regard to matters climate being heard. The case of COP29 is a platform to embrace multi stakeholders to create viable solution in beating the challenges of climate change.
The how is the issue if we are to determine outcomes of tacking the issues at hand:-
- Decision makers can scale up partnerships across the board. The decisions made on the board room table should reflect on the ground meaning corporates can work with the communities at the grassroot level.
- Policy makers ought to make sensible policies that are accompanied with incentives. For example, carbon credits can empower communities to mitigate climate change and make an income.
- Data driven decisions will provide a better approach to expected outcomes. Research has shown that expected outcomes stand at at least 30% where data is a consideration at the decision making level.
We cannot do without our environment and this is why we begun the GoGreen initiative. Launched in 2020 we are on the go with different initiatives that can be verified on the ground including in sectors such as renewable energy, water management and sustainability advocacy.
