Increasingly, organizations are adopting a business approach that goes beyond mere legal compliance into a “doing the right thing” mindset, by integrating ESG factors into their everyday business decision-making processes. Know more:
INCREASINGLY, organizations are adopting a business approach that goes beyond mere legal compliance into a “doing the right thing” mindset, by integrating Environmental, Social and Governance factors into their everyday business decision-making processes.
Business leaders in the Philippines are already integrating ESG principles and practices into their business frameworks and operations. They understand that mere compliance is not enough and that real and systemic changes must be implemented in their organizations to ensure they truly live out ESG principles.
Climate change has dominated the Environmental, focusing on what organizations need to do to remove carbon from their business activities to deliver the Net Zero economy required by the Paris Agreement. “Decarbonization” impacts an organization’s core global business model and operations. Many clients are committing to material reductions in their carbon emissions well in advance of 2050.
An organization’s license to operate is a familiar concept to all GCs. ESG-related laws, together with increased stakeholder capitalism scrutiny, transparency and accountability, are requiring a further considerable investment of a GC’s time.Intense public scrutiny of corporate governance is challenging long-accepted legal concepts which GCs must ensure remain “fit for purpose.”Commentators have criticized some Boards’ lack of ESG sophistication.
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