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ESG Reporting: Driving Transparency Through Commitment and Change Management
Image Source: Azeus Convene Website
On May 9, 2023 a webinar was facilitated by Convene which discussed the importance of ESG (Environmental, Social, and Governance) in the corporate and environmental setting. Speakers for the event were Pebbles Sanchez-Ogang (People and Development Officer), Atty. Angelo Valencia (Sustainability Committee Member, Nickel Asia Corporation), Marimar “Mai” Baticulon (Business Development Officer, Ateneo Institute of Sustainability) and was moderated by Frances Lara Lopez (ESG Product Specialist, Azeus Systems Philippines Limited).
ESG reporting has grown significantly in importance within the corporate community in recent years. Companies are rapidly using ESG frameworks to evaluate, report, and manage their environmental, social, and governance risks and opportunities as businesses become more aware of the value of sustainable practices and societal impact. ESG reporting is a potent instrument for promoting accountability, encouraging ethical company conduct, and increasing stakeholder confidence. However, in order to successfully integrate ESG reporting, firms must show steadfast dedication and use change management techniques.
Image Source: World Economic Forum Website
In the realm of ESG reporting, it is essential to recognize the critical role of people. While ESG factors traditionally focus on environmental and governance aspects, the social dimension, which encompasses employees, communities, and stakeholders, is equally vital. To create sustainable and responsible organizations, ESG frameworks must shift towards a people-centric approach. Chief CSR marketing and partnership officer Pebbles Sanchez-Ogang “We don’t build the business, we build the people who build the business which includes the customers, employees, suppliers and as well as the top management”. Attorney Angelo Valencia further emphasized the point by stating that the development of the ESG framework could be considered as a transformation journey. To be sustainable long-term, the plans developed should be process-driven, planet-motivated, and people-inspired. Corporations must develop something that is worth lasting rather than just something that will last.
ESG is not solely the responsibility of businesses or governments. It is a collective responsibility that requires engagement and action from individuals, communities, organizations, and policymakers alike. By recognizing our individual impact, leveraging consumer influence, fostering collaboration and partnerships, advocating for policies, and acknowledging our interconnectedness, we can create a sustainable future. Embracing ESG as everyone's responsibility empowers individuals to contribute to positive change, drive systemic transformation, and ensure a better world for current and future generations. As business development officer Marimar Baticulan stated, sustainability is not just a case for businesses but also for our own survival.
