Get your ESG policy up to date
Environmental, social and governance issues do not exist in a silo. ESG is about bringing them together under one banner to demonstrate the positive impact our business is having on the world. ESG is much like corporate social responsibility but on a vastly larger and more measurable scale. Companies that are at the forefront of talking about their ESG scores are generating more attention from across the business spectrum, and investors are actively looking for high ESG-scoring companies.
VinciWorks Free ESG Policy Template
VinciWorks has released a free policy template for businesses to download and use in order to inform their staff on everything ESG related they should know. This includes information on reporting, disclosures, business practices, policies, procedures, investments, board activities, stakeholder engagement, and investor relations.
Which Types of Companies and Businesses Should Download this ESG Policy Template
Recently, ESG has gained more attention worldwide and the SEC as well as other jurisdictions around the world have begun considering or implementing ESG disclosure requirements and penalties for non-compliance. The focus at first is likely to be mainly on disclosures by large reporting companies and ESG funds, but small businesses and privately-held companies should also strongly consider implementing ESG reporting frameworks, as they can also create a significant impact by having an ESG program.
Read more: VinciWorks’ online ESG awareness training
From April 2022, 1,300 of the largest UK firms will be required to report based on the TCFD (Task Force on Climate-Related Financial Disclosures) framework. This will include many of the largest companies such as banks and insurers, as well as private businesses with over 500 employees and £500 million in turnover. This means that businesses within the supply chain of these larger firms will have to be prepared to report on some climate-related information to them. Data could include greenhouse gas emissions and carbon footprint from travel. Even if your own business is not required to undertake mandatory TCFD reporting, if significant customers of yours do have to report based on TCFD, it might be sensible for you to consider TCFD as your own framework. Similarly, if some of your major customers use GRI or the UN SDGs, you may want to align with those rules.
Whether you are a large UK firm or a smaller private firm anywhere in the world, downloading the ESG policy template can help you be prepared and get started on implementing an ESG programme.
