ESG: What gets measured – gets managed
ESG reporting, or the disclosure of a company’s environmental, social, and governance practices, is becoming increasingly important for businesses of all sizes. It allows companies to be transparent about their impact on the world, and to take responsibility for the consequences of their actions. By disclosing their ESG practices, these companies can take steps to mitigate their negative impacts and work towards more sustainable and socially responsible practices.
According to our investigation and analysis from the past records and data, ESG reporting seems to have some financial benefits for the companies as well! Investors are increasingly interested in companies that are committed to sustainable and responsible practices, and are more likely to invest in companies that have strong ESG credentials. ESG reporting can help companies attract these investors and improve their overall financial performance!
However, ESG reporting is not just about financial benefits. It is about empowering companies to make a positive impact on the world. By measuring and reporting ESG practices, the company can identify areas where they can improve and take actions to address those issues. This can lead to a more engaged and committed workforce, better relationships with stakeholders, and a stronger reputation in the marketplace.
“Companies that report sustainability information are more likely to be seen as trustworthy, ethical, and responsible, according to a study by the Global Reporting Initiative (GRI) and the United Nations Environment Programme (UNEP). In addition, the report found that ESG reporting can help companies identify areas where they can improve their performance, which can lead to better business results in the long term.” – The Economic Times, “Why ESG reporting is important for companies,” 27 Oct 2020. Additionally, we can find more such references and studies on the importance of ESG reporting in various Indian journals and newspapers, such as Business Today, Forbes India, and Mint.
One-way Tisser is empowering rural women through its ESG reporting is by demonstrating its commitment to social responsibility and sustainability. Moreover, through our sustainability initiatives, we aim higher and higher each day, of providing more and more economic opportunities for rural women. By promoting fair trade, local production and by including data on our efforts to support local communities and promote gender equality in our ESG report, we at Tisser declare our dedication to empower rural women and support sustainable development. This can not only inspire other companies to prioritize similar initiatives but also inspire them to build a reputation as a socially responsible business that aims in making a positive impact on communities.
We have seen first-hand the power of transparency and accountability in empowering companies to take responsibility for their actions and work towards a more sustainable future. Tisser firmly believes that ESG reporting is a crucial tool for companies that want to make a positive impact on the world. By disclosing environmental, social, and governance practices, we can take steps to tackle negative impacts, attract investors, and empower others to make a positive difference in the world. We can conclude with the saying – “ESG reporting meets the triple bottom line: People, Planet and Profit!”