Our insights at Zacrey on design, strategy and transformation are an initiative to pause, reflect, appreciate, re-sharpen and transform meaningful dialogue into action with lasting impact. In this article we embrace the opportunity to learn , unlearn and relearn as an effective tool to constantly redefine the "new" normal in the VUCA business world.
ESG is headlining many conversations & a transdisciplinary approach to nurture ambition, accelerate achievement of science based targets and helping others to progress is the only true path to success.
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ESG: What is ESG
In the future, that has already arrived, success will be determined by measuring a broad range of behaviours across the environmental, social, and governance (ESG) criteria of a company. This will expand on the the traditional bottom line approach and also pivot beyond the triple bottom line approach of people, planet and profit.
Zacrey, since it's inception has been embedded in the 6 pillars ( 6Ps) People, Passion, Purpose, Profit, Planet and Progress.which we believe enhance our trans-disciplinary approach towards business challenges.
In the future, that has already arrived, success will be determined by measuring a broad range of behaviours across the environmental, social, and governance (ESG) criteria of a company. This will expand on the the traditional bottom line approach and also pivot beyond the triple bottom line approach of people, planet and profit.
Environmental criteria may include a company’s energy use, waste, pollution, natural resource conservation, and treatment of animals. The criteria can also be used in evaluating any environmental risks a company might face and how the company is managing those risks. For example, are there issues related to its ownership of contaminated land, its disposal of hazardous waste, its management of toxic emissions, or its compliance with government environmental regulations?
Social criteria look at the company’s business relationships. Does it work with suppliers that hold the same values as it claims to hold? Does the company donate a percentage of its profits to the local community or encourage employees to perform volunteer work there? Do the company’s working conditions show high regard for its employees’ health and safety? Are other stakeholders’ interests taken into account?
With regard to governance, investors may want to know that a company uses accurate and transparent accounting methods and that stockholders are given an opportunity to vote on important issues. They may also want assurances that companies avoid conflicts of interest. in their choice of board members, don't use political contributions to obtain unduly favorable treatment and, of course, don't engage in illegal practices.
No single company may pass every test in every category, of course, so investors need to decide what's most important to them.
On a practical level, investment firms that follow ESG criteria must also set priorities. As ESG-minded business practices gain more traction, investment firms are increasingly tracking their performance. Financial services companies such as JPMorgan Chase, Wells Fargo and Goldman Sachs have published annual reports that extensively review their ESG approaches and the bottom-line results.
ESG: In the Middle East
In the MIddle East, the Sustainable Stock Exchanges ( SSE) have shown that the investor appetite is shifting with new trends such as rise of investor activism, enhancement of ESG monitoring initiatives, enhanced climate crisis awarenewss , adoption of ESG friendly practices across the business and change in the investor demographic and sentiment. This is firmly augmented by the GCC wide adoption of practices and policies by governments to stay ahead of the cruve as they shift away from fossil fuels and less sustainable business practices.
An inherent shift towards a circular economy, at scale and pivoting to be a producer advancing towards net zero requirements rather than being a less conscious consumer should serve the Middle East well in its ambition to be an imerpative part of the ESG dialogue.
The various soverign visions Vision 2030, Vision 2040 etc all put sustainability at their core and the given the Middle East's history of being a test bed for achieving the impossible the stage looks set for explosive growth towards a mature ESG g-local marketplace.
Covid19 has shown us that It's high time the world comes together as a race to protect itself and to serve the next generation. Such initiatives only remind us that we are responsible to leave the world better than we found it. Much like COVID, we are all in this together, so everyone should do their bit to advance ESG maturity with integrated trustworthy disclosures and unified reporting standards. It would be a shame if we are unable to do that despite the advent of emerging technology and the enhanced appetite into ESG / SRI / impact investing funds. Resource allocation for the right initiative will always find takers.
At Zacrey, we have commenced our consicious pivot to being and helping others to be a responsible business. Our #TxT initiative, incepted during the pandemic has given rise to some stellar ideas that are set to take on lives of their own. Stay tuned for more exciting developments on this front.
Armed with resolute commitment to create high-impact design and strategy solutions and experiences, Zacrey can be your partner in successful community and business transformation. We use our experience and expertise to successfully navigate through a VUCA World in an accelerated manner.
Eager to know more about VUCA come connect with us at www.zacrey.com
About Zacrey :
At Zacrey , we architect the convergence of best ideas, best people and best practices from related industries to deliver our multi-disciplinary and often disruptive results to remain ahead of the curve.
We are human centred, design empowered and technology driven catalysts of transformation that strive to be the vanguard of Industry 6.0 drivers such as education, environment and the creative economy.
To know more visit us at www.zacrey.com or follow us @zacreypartners