July 15: Let's Talk About Scope 3: How It Works, and How to Make it Work For You
ESG Assessment
"After conducting a comprehensive ESG assessment, our company found that we need to improve our waste management practices to reduce our environmental impact. We also discovered that our employee diversity initiatives are lacking, and we need to implement more inclusive hiring practices."
Definition
A detailed review of the Environmental, Social, and Governmental factors affecting a company and its stakeholders, including investors, employees, customers, communities, and shareholders. By considering these factors, stakeholders can get a more holistic and comprehensive view of the company's risks, opportunities, and impact. It examines the company's environmental impact (e.g., pollution, greenhouse gas emissions, biodiversity, water usage), social impact (e.g., employee welfare, community engagement, labor rights), and governance practices (e.g., corporate conduct, ethics, conflicts of interest).
Related terms
