Is ESG a priority in a pandemic?
This week, I joined a KPMG webinar, following their research into their recent report on ESG activities at corporates. Released today, the report covers Prioritizing in a pandemic: how Covid-19 is impacting corporate ESG agendas.
You can download a copy here.
“Before we saw separate actions within corporates but no connection with strategy, business model and action and practice - we are now seeing a transformation. Covid made clear a need for sustainable innovation.” Arjan de Draaijer, KPMG
Hearing from Stephanie Hottenhuis and Arjan de Draaijer of KPMG in the Netherlands as well as from Magali Anders, Chief Sustainability Officer at LafargeHolcim; Robert Metzke, Vice President, Global Head Sustainability at Royal Philips and Alain Cracau, Executive Director and Head Sustainable Business at Rabobank, the insights shared included:
Clients are still in survival mode, but a number of clients that have come out the other side have got departments together and demonstrated there is motivation and innovation in ESG (environmental, social and corporate governance).
The social dimension has become more clear and front of the agenda - social issues are taking centre stage for the clients. Climate change is still on the agenda too.
Corporates are looking more closely at their supply chain as the pandemic has made it clear that supply chain was highly dependent and complex.
There was a call to ‘build back better’ - with sustainability key on the agenda. the pandemic has given corpropates a reason to put it at the heart of the company. One of the speakers has signed up to the 2030 Net Zero pledge, something they know will be hard as a construction company, but that they feel they have to do. There has been a big call for implementation rigour with midterm and long term action plans key - to reach every worker with the message around ESG is very important.
Collaboration between stakeholders, governments and business is key to make progress
Final thoughts from the panel were that
It’s never too late to start
We owe it to our children
How can we move faster