Preparing for Evolving Industry ESG Standards and Requirements
As evolving ESG standards become a significant driver influencing modern business strategies, companies must build a comprehensive, future-focused strategy.
As we wade into the waters of 2023 planning, it seems the world has finally shifted to a post-COVID mindset. We are all eager to put that era behind us, along with the supply chain upheavals, surging costs, and shortages. However, uncertainty and volatility seem likely to continue, even as a fragile recovery continues. We have learned hard-won lessons in recent years about the importance of forward-thinking strategic planning to build resilience and agility, and these will continue to serve us well in the future.
Evolving ESG (environmental, social, and governance) standards are one of the biggest drivers influencing modern business strategies. On the surface, the foundational concept of ESG is compelling; improving metrics relative to these areas makes good business sense, because they tend to have a positive correlation with efficiency, compliance, reputation, and agility. However, as any professional that has gone beyond the surface of ESG will tell you, there are few areas as complex or polarizing.