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ESG Priorities and Reporting Options for Medium Companies

Environmental, social, and governance (ESG) reporting is an important practice for medium-sized companies looking to demonstrate their commitment to responsible business practices. However, identifying priority topics, collecting relevant data, and selecting an appropriate reporting framework can be challenging. Here are some considerations for medium-sized companies when reporting on ESG issues:


Environmental:

Priorities

Data collection

Reporting Frameworks

  • Greenhouse gas emissions

  • Energy consumption

  • Water usage

  • Waste management

  • Biodiversity

  • Direct measurement of emissions and energy consumption

  • Supplier questionnaires

  • Third-party data sources.

  • Global Reporting Initiative (GRI) Standards

  • Task Force on Climate-related Financial Disclosures (TCFD)

  • Carbon Disclosure Project (CDP)

Consider setting targets to reduce their carbon footprint and adopt sustainable practices, such as using renewable energy sources, implementing energy-efficient technologies, and reducing waste generation


Social:

Priorities

Data collection

Reporting Frameworks

  • Labour practices

  • Human rights

  • Community engagement

  • Diversity and inclusion

  • Employee surveys

  • Stakeholder engagement

  • Supplier questionnaires

  • GRI Standards

  • Social Accountability International (SAI) Standards

  • United Nations Global Compact (UNGC)

Consider engaging with their local communities and implementing social initiatives, such as volunteering programs and charitable donations.


Governance:


Priorities

Data collection

Reporting Frameworks

  • Board composition

  • Data privacy

  • Anti-corruption practices

  • Shareholder rights

  • Board evaluations

  • Executive compensation disclosures

  • Anti-corruption policies


  • GRI Standards

  • International Corporate Governance Network (ICGN)

  • Principles for Responsible Investment (PRI)

Consider engaging with their shareholders and implementing shareholder-friendly initiatives, such as providing regular updates on company performance and holding regular meetings with shareholders.


In summary, medium-sized companies should identify the most relevant ESG issues and initiatives for their operations and set specific, measurable, and achievable targets and ensure their data is accurate and reliable by establishing robust data management systems and verifying their data through independent audits or certifications. By doing so, they can demonstrate their commitment to responsible business practices and enhance their reputation among their stakeholders


The integrated Ariscu compliance services ecosystem enables access to relevant legal frameworks, data collection mechanisms and relevant reporting framework templates and template building capability to reduce and consolidate ESG monitoring and reporting.


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