Sylwia Pawlaczyk’s Post

Why does ESG matter in the supply chain? 1.Sustainability Impact: ESG practices play a crucial role in shaping a sustainable future as they actively work towards reducing carbon footprints, minimizing waste, and conserving valuable resources. These practices are not only beneficial for the environment but also imperative for meeting the expectations of eco-conscious consumers. 2.Social Responsibility: Giving priority to ESG (Environmental, Social, and Governance) in the supply chain guarantees the implementation of fair labor practices, encourages diversity and inclusion, and cultivates strong relationships with local communities. It extends beyond mere products, as it aims to create a meaningful and positive influence. 3.Risk Management: ESG criteria play a crucial role in identifying and addressing various risks, ranging from environmental hurdles to reputational concerns. By adopting a proactive approach to risk management, businesses can enhance their resilience in an ever-evolving corporate landscape. 4.Regulatory Compliance: Governments are progressively enacting regulations pertaining to ESG. Complying with these guidelines extends beyond mere legality; it signifies a dedication to ethical business conduct that resonates with both customers and investors. 5.Investor and Stakeholder Appeal: Companies that align with ESG values are attracting the attention of investors. By incorporating ESG principles into their supply chain, businesses have the opportunity to appeal to investors and involve stakeholders who place importance on sustainability and ethical practices. 6.Innovation and Efficiency: ESG principles are the catalyst for innovation within the supply chain, resulting in enhanced effectiveness, reduced expenses, and sustained competitiveness in the long run. It goes beyond mere compliance with regulations; it entails proactively embracing visionary approaches to maintain a competitive edge. In our pursuit of success amidst a constantly evolving business environment, our dedication to ESG principles within the supply chain serves as the bedrock. Come and embark on this path towards a future that is sustainable, socially conscious, and capable of withstanding challenges.🚀#ibm #ibmer #ibmconsulting #ESG #Sustainability #SupplyChainSuccess #ResponsibleBusiness #Innovation #independentdirector #independentdirectors #sapcommunity #iica #mca #nonexecutivedirectors #heineken

🚀 Illuminating Insights from DRSC - Deutsches Rechnungslegungs Standards Committee e.V. on ESRS Implementation! 🚀 A recent study by DRSC provides a deep dive into the ESRS implementation journey of DAX 40 companies and their navigation through sustainability reporting. Key Takeaways from the DRSC Study: 🌱 Embarking on the ESRS Journey: An impressive 95% of companies have initiated their ESRS implementation project, with a split between those who started in 2022 and others in the first half of 2023. 📊 Materiality Analysis Milestone: About 75% of the companies have either concluded (20 companies) or are undergoing (9 companies) their initial materiality analysis, a crucial step in the ESRS implementation. 🚧 Navigating Through Challenges: Approximately 80% of companies are encountering obstacles such as uncertainty in reporting requirements and concerns related to data quality and auditability, along with issues in data availability, human resources, and timing. 🔗 Engagement with Various Reporting Frameworks: Almost all companies, besides dealing with ESRS, are also engaging with at least two other reporting directives. The GRI standards are currently foundational for independent sustainability reports in numerous companies (29).

ESG: The Key to Sustainable Business Success. Environmental, social, and governance is becoming increasingly important for organizations. By addressing ESG factors, organizations can improve their financial performance, reduce their risk profile, build a sustainable business, attract, and retain customers and employees, and gain a competitive advantage. Benefits of ESG for organizations: Financial performance: Studies have shown that companies with strong ESG performance have higher returns on equity and lower cost of capital. Risk reduction: Companies that address ESG risks are less likely to experience financial losses due to these risks. Reputation: Companies with strong ESG performance have a higher reputation among consumers and investors. Customer loyalty: Consumers are more likely to buy from companies with strong ESG practices. Employee engagement: Employees at companies with strong ESG practices are more engaged and productive. As the importance of ESG continues to grow, organizations that fail to address these factors will be at a competitive disadvantage. By taking steps to improve ESG performance, you can build a more sustainable and successful business. What are you doing to improve your organization's ESG performance? Join our upcoming global conference 2023. Read more @ https://lnkd.in/ghi8JVjJ #ESG #ERM #riskmanagement #enterpriseriskmanagement #sustainability #auditor #compliance #riskmanager #CEO #CFO #CSO #governance #ierp #instituteofenterpriseriskpractitioners #kualalumpur #malaysia #riskprofessionals #internalauditors #erm #esg #globalconference2023 #riskpractitioners #riskmanagementprofessionals #sustainablebusiness #sustainability #csr #corporatesocialresponsibility #reputation #financialperformance #riskreduction #customerloyalty #employeeengagement #competitiveadvantage

🗞 A recent article in the Dutch newspaper Het Financieele Dagblad brought to light the squeeze on implementing the European Sustainability Reporting Standards (ESRS) for Small and Medium-sized Enterprises (SMEs). Making note of two key bottlenecks for the pivotal moment of introducing complex challenges in sustainability reporting. 🚀 The Immediate Challenge Embracing the ESRS standards demands more than just meeting compliance; it's about adapting to a significant shift in the sustainability landscape. The current shortage of ESG/ESRS specialists further amplifies this challenge. Secondly the right tools are essential, yet they require careful selection. So based on experiences and research what to think about when recruiting the right ESRS talent and sourcing tooling fit for purpose? 👩💻 👨💻 What Makes an Ideal ESRS/ESG Implementation Manager? Top-3 Attributes: 1. Deep ESG & ESRS Knowledge: Expertise in the nuances of ESRS reporting and regulations. 2. Strategic Approach: Ability to align ESG initiatives with core business strategies, creating sustainable value. 3. Effective Change Leadership: Proficiency in leading organizational transformation in sustainability practices. 🛠 Sourcing the Right ESG Reporting Tools? Top-3 Criteria: 1. Comprehensive Compliance Coverage: Ensures complete adherence to ESRS standards. 2. Seamless System Integration: Facilitates efficient data management and process integration. 3. User-Friendly Design & Support: Crucial for optimal utilization, especially when specialist resources are scarce. 📈 Capitalizing on the First-Mover Advantage Being ahead in ESRS compliance isn't just about avoiding penalties; it's a strategic move. Early adopters gain a first-mover advantage, establishing themselves as sustainability leaders. This not only appeals to environmentally conscious consumers but also to investors seeking responsible business practices. ⚠ Mitigating Client Loss Risks Proactive ESRS compliance is also a risk management strategy. In an increasingly eco-aware market, businesses lagging in sustainability reporting risk losing clients to more compliant competitors. Timely adoption of ESRS safeguards your client base and opens new market opportunities. 🌱 Stepping into the Future The journey towards ESRS compliance is complex but crucial. It's not just about adapting to new standards; it's about embracing a sustainable future for your business and the planet. And as we say at Kyden get on 'a fast track to better'. #ESRS #ESG #SustainabilityReporting #SMEs #BusinessStrategy #RiskManagement #SustainableFuture

Attention business leaders: Are you ready for the imminent ESG assurance requirements? 🌍📈 A recent survey by KPMG reveals that less than 30% of companies are adequately prepared to meet the upcoming assurance requirements for their reported ESG data. This is a critical concern, as 100% of surveyed companies anticipate being required to provide ESG disclosures under at least one sustainability reporting standard within the next two years. The pressure is mounting from various stakeholders, including shareholder activists, financial markets, and investors, for companies to deliver externally assured sustainability reports. However, the survey found that while preparedness is slowly improving, there is a widening gap between the most and least advanced companies. So, how can your organization get ready? Here are some key steps: 1. Invest in robust ESG data management systems 📊 2. Set clear ESG requirements for your supply chain 🤝 3. Provide regular ESG training to your employees 👥📚 4. Consider hiring external ESG talent to bridge skill gaps 🤼♀️ At McNees Group, we specialize in helping companies navigate the complex landscape of ESG assurance and reporting. Our team of experts can guide you through the process, from assessing your current maturity level to implementing best practices and preparing for external assurance. Don't wait until it's too late. Take action now to ensure your company is ready for the future of ESG reporting. Contact us today to learn more about how we can support your ESG journey. 🌱✨ #ESG #Sustainability #Assurance #Reporting #BusinessLeadership

Social impact and ESG in 2024 Besides ESG refined ESG metrics and reporting standards, companies will be pushed to Strategically align and #integrateESG and #impact in their #businessandmanagement operations, everything from product development to supply chain management This means companies will need to embed ESG considerations into their core business strategies rather than treat them as separate or supplementary initiatives, driving companies to innovate and operate in ways that are environmentally sustainable, socially responsible, and governed by high standards of ethics and integrity. Here's how companies can embed these practices across operations: - leadership endorsement and business culture - strategic planning and cross-departmental collaboration - product development and innovation, including lifecycle analysis of products - supplier selection, transparency and traceability - resource efficiency and sustainable procurement - risk management - stakeholder engagement But, I assume you've heard about these ones before. The novelty is creating and establishing #consortium of businesses working in the same field or in the same geographical area. How - I will explain it in the next post. Stay tuned #ESG #SocialImpact #CorporateSustainability  #sustainablefinance #sustainableinvesting #sustainability #activeownership #impactinvesting #esginvesting #climateinvesting #capitalmarkets #assetmanagement #portfoliomanagement #esgrisk #esgdata

Don’t Put ESG Before Stakeholders Every now and then fads sweep through organizations that capture management’s attention. They usually come with a three letter acronym and promise amazing results. Of course, three things, not four five or six, are easier to remember, e.g., KRA - key result area. The latest is ESG – environmental, social and governance. The problem with these snappy tags is that they encourage simplistic thinking. Don’t get me wrong I’m all for simple. But simple is different from simplistic. In English, “simplistic” means over simplified. It’s a derogatory term. I have this image of a group of managers on a strategy retreat sitting down with the three categories and writing action plans for each. I'm sure this is happening somewhere in the world as we speak. It's a recipe for bland statements of intent - not business strategy. You can’t run an organization with ESG as its primary focus. Doing so won’t make you competitive and won’t produce competitive advantage. E, S and G are three compliance boxes you might apply after you focus on your organization’s key stakeholders such as customers and employees. Once you take your primary focus off your relationships with key stakeholders you’re on the slippery slope to failure. So, in summary, report results according to the three ESG boxes as you would on any other compliance framework. Just don’t make that framework primary in your strategic planning or strategy design, i.e., don’t get the cart before the horse. And don’t mistake “compliance” for “competitive”. For more on this you might like to read my article in Australia’s national newspaper, The Australian – document below. For details on applying a stakeholder framework to strategy design and performance measurement please visit my articles in the Harvard Business Review. The link is in the comments below. #ESG #stakeholders #competitiveadvantage

A unique article showcasing the additional value that quality departments can provide when it comes to serving their organizations. Although there is not one singular regulatory body for ESG guidance, increasing disclosure and transparency is an essential first step for any company. Organizations can use their existing processes (such as Six Sigma DMAIC) to improve their reporting. A systematic approach plays a significant role to achieving organizational goals, both for ESG and beyond. https://lnkd.in/eCgQKEqg #asq #quality #esg

🌟 Discover the CSDDD: Unveiling IT's Role in the 2024 ESG Shift 🌟 The Corporate Sustainability Due Diligence Directive (CSDDD) marks a new era in IT for Sustainability (IT4S). 🌍 A Moment of Transformation for IT Sales and Marketing Professionals: The recent EU agreement on the provisional CSDDD is more than just a new policy; it's a significant shift. As a crucial part of the EU’s ESG (Environmental, Social, and Governance) reporting initiatives, the CSDDD introduces an era of data-driven transparency impacting businesses worldwide. 📈 Implications for Your Business: This directive challenges companies to assess and address their impacts on human rights and the environment. It's especially pertinent for EU businesses with global operations and non-EU firms active in the EU market. This initiative brings sustainability to the forefront of business operations, underlining the importance of ESG factors. 🔍 IT’s Role in Navigating ESG Challenges: The CSDDD unveils many opportunities for IT vendors. This directive leads the way for developing and applying sophisticated data analysis and technological solutions. Your business can play a pivotal role in helping companies meet these new compliance standards with innovative tools for tracking, reporting, risk assessment, and climate transition planning. 🚀 The Strategic Importance for Sales and Marketing Teams: More than compliance, this directive offers a chance to revamp your sales and marketing strategies. Position your products and services as crucial enablers of sustainable practices. Show how your offerings align with and support the CSDDD, turning a regulatory requirement into a strategic advantage. 💡 Exploring Opportunities: In this unique moment for IT sales and marketing professionals, consider broadening your impact. Engage with key decision-makers in your client and prospect base. Demonstrate how your IT solutions simplify compliance, enhance risk management, and support effective climate transition strategies. Your technology can be a vital support in the journey toward sustainable business practices. 🔗 Learn More and Stay Ahead: This pivotal moment for IT vendors in the ESG landscape is an opportunity to lead and innovate. Ready to lead in the ESG era? Dive into our detailed blog on the CSDDD and explore how it can be a game-changer for your IT business here - https://bit.ly/4apo1Jf How is your IT business preparing for the CSDDD? Share your thoughts below. #CSDDD #ESG #Sustainability #IT4S #DataTechnology #Compliance #Innovation #ITSales #ITMarketing #GrowthOpportunity #TechForGood #AI #SustainableIT

ESG is now a strategic imperative for organizations. Stay ahead of the curve by joining our webinar.