Starting Your ESG Program: Expert Insights from Maria Neve, Wheels VP of Electrification and Sustainability
By Maria Neve June 8, 2023
Environmental, Social, and Governance (ESG) programs are gaining traction in today’s business world as companies seek to align their operations with social and environmental goals. Maria Neve, Wheels VP of Electrification and Sustainability, shares her insights on how to successfully launch an ESG program. In this article, we will explore her top tips for starting an #esg initiative that feels not only good but also delivers material benefits.
Establish Clear Goals: The first step in starting an ESG program is understanding your organization’s goals. While it is not necessary to have finalized goals, knowing the general direction you are heading will help you choose the material topics to focus on. These topics should be relevant to your organization and its stakeholders, including clients, customers, and employees.
Prioritize Material Topics: After establishing your goals, determine the material topics that are most important to your organization and stakeholders. These topics should be the foundation of your ESG program and directly relate to your overall objectives. Identifying these topics will help you align your ESG efforts with your stakeholders’ values and expectations.
Recognize the Value Proposition: Understanding that a robust ESG program can provide tangible benefits to your organization is essential. A well-executed ESG strategy can lead to increased profits and decreased risks. Acknowledging the return on investment (ROI) associated with ESG initiatives can help drive your organization’s commitment to #sustainability and social responsibility.
Adopt a Holistic Approach: ESG programs should be integrated across your organization, as no single department or function can operate in isolation. A comprehensive ESG strategy involves collaboration across all aspects of your company, ensuring that your overall ESG footprint reflects a cohesive and meaningful effort.
Leverage Data: Data plays a critical role in the success of an ESG program. Understanding the data you have available, as well as the data you lack, is crucial for informed decision-making. Additionally, it is important to ensure that the data can be translated into formats that meet standard requirements, enabling proper analysis and compliance with regulatory and industry benchmarks.
Implementing a successful ESG program requires a clear understanding of your organization’s goals, prioritizing material topics, recognizing the value proposition, adopting a holistic approach, and leveraging data effectively. By following Maria Neve’s expert advice, you can create an ESG program that aligns with your stakeholders’ values and delivers tangible benefits to your organization.