Many businesses already committed to being purpose-led, and who have strong sustainability/ESG goals, believe they’re doing business the “right way” and often see it as a virtuous circle where a greater commitment to being purpose-led and sustainable leads to increased profits and growth which in turn funds more initiatives.
Even among those who are not particularly committed to the concept of profit with purpose, there is a growing realisation that it’s going to become a necessity due to:
This is already prevalent across public sector and some of the private sector, but will expand as more companies are required to demonstrate that they are doing business in an environmentally and socially responsible and ethical way.
The role of HR directors in a company’s ESG/sustainability strategy is crucial. They are responsible for ensuring that the company’s policies and practices align with ESG principles.
This includes creating a diverse and inclusive work environment, implementing fair work practices, providing employee training and development opportunities related to ESG issues, promoting ethical conduct across the organization, and facilitating transparent communication about the company’s ESG performance. Furthermore, HR directors play a key role in attracting and retaining talent that values sustainability and corporate social responsibility.
HR leaders can implement several strategies to promote ethics within an organization.
Diversity and inclusion are integral aspects of a company’s ESG (Environmental, Social, Governance) commitments.
Training plays a crucial role in advancing an organization’s ESG (Environmental, Social, Governance) strategy.A well-thought-out ESG-related training program not only equips employees with knowledge but also encourages them to actively participate in achieving the organization’s ESG goals.
While more ambitious ESG/sustainability goals will present many HRDs/CPOs and their teams with greater challenges it’s also a fantastic opportunity for them to create value and take the lead on a business critical issue. Further more, as the Board place greater emphasis on this area many People leaders may find increased support and additional resources for existing initiatives, particularly those related to DE&I.
Joanne Grindrod (CFO, AMA), Kerry McClelland (VP Finance, 9Fin), and Sabrina Castiglione (CFO, Omnea) share their experiences, insights and advice on stepping beyond finance and into general management
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