Running a business is always difficult, but in today’s market and business world that values culture, your business is not just about profit, but about core values that you believe in as well. Which is why you see so many successful businesses focusing on ESG principles in their work. The ESG principles are environmental, social, and governance, and are a key set of principles that investors use to make sure they are investing in companies that are doing good in the world. Here are a few actionable ways that you can adopt ESG principles at your business and be at the forefront of your industry.
Make Sure Your Company is Diverse
The first way you can adopt ESG principles at your business is to ensure that your company is made up of a diverse collection of employees. One of the first things that your company will be evaluated on with ESG principles is the equity and diversity of your ownership, leadership, and workforce. You need to make sure that you are embracing diversity in your hiring and promoting practices, and helping underrepresented groups succeed at your business.
Shift to Clean Energy
Another way that you can adopt ESG principles at your business is to shift your business towards clean energy. Environmental concerns are at the very top of the list for ESG based investors and their evaluations and using green energy to offset your carbon footprint can make a huge difference. A great way to work towards clean energy is to install solar panels on your company’s property. You can still get a solar tax credit until the start of 2023. If you have yet to make the shift, there is no better time to make the leap and shift your business to solar energy.
Be a Kind and Forgiving Employer
The final way that you can adopt ESG principles at your business is to be a kind and forgiving employer towards employees and business partners. One of the principles of ESG is social, which is based on how your business maintains and develops relationships with employees, suppliers, distributors, and the community at large. Offer kind bonus packages, give your employees family and sick leave, and try to give back to the communities that you do business in.
There are all sorts of principles that you can strive towards in your business, but the ESG principles are amongst the best to focus on. ESG principles can help your business appeal to new generations of investors, employees, and business partners. Focus on these three actionable ideas to adopt ESG principles at your business.
Check out this article on the best collaboration tools for your business!