As part of today’s rapidly evolving business landscape, embracing Environmental, Social, and Governance (ESG) principles is becoming an increasingly central part of any business’ strategy and daily actions. Beyond the traditional focus on profit, a shift is occurring both within the business community itself and society in general, which urges companies of all sizes to consider the broader implications of the way they do business. For SMEs, most of which don't currently have ESG reporting requirements, aligning with ESG values presents a unique opportunity to pursue sustainable growth while having a positive impact on both society and the environment – and doing wonders for staff motivation and brand in the process.
Planet, People & Profit (sometimes considered as Prosperity) is also an increasingly well-known acronym.
ESG and PPP map onto each other (Environment – Planet, Social – People, Governance – Prosperity). They are not just 3 random elements that have been cobbled together; ESG and PPP both have origins in the field of ecological systems, where the crucial interdependence of the 3 key elements of environment, society, and economy is considered. Sustainability occurs when all 3 of those elements are in balance and are mutually supportive.
Building ESG and PPP thinking into your business strategy at whatever level you can, should now be on every CEO or business owner’s agenda. Which terminology you use, is down to which fits best with your culture, your brand, and your customers. Pick one, just do it, keep doing it, and let the world know. What can ESG and PPP do for me?
What other great reasons are there why you might want to build sustainability into your strategy?
And, have you got ESG or PPP in your sights? If so great, and what are you doing about it?