Issue 520 (Week ending 29/06/2022)

While many are just starting, and others are much further down the road, it's fair to say Companies are more conscious than ever before of their impact on the environment. Anyone involved in a tender recently will have noticed an increasing requirement for successful bidders to have a positive approach to ESG (Environment, Social, and Governance).

In the years ahead reporting on ESG levels is likely to become commonplace, with regulations already being prepared at EU level for reporting by larger companies. In time this is also likely to extend to wider than just large enterprises.

What can CRIFVision-net do to Help?

A new solution brought to you by CRIFVision-net, called Synesgy, is a global digital platform to help and enhance the transition to sustainability. It is the global alliance of leading companies enhancing the transition to sustainability with data and information gathered through an innovative digital platform.

In 2022, Synesgy became a member of the United Nations Global Compact (UNGC), Global Reporting Initiative (GRI) and ASVIS.

Synesgy's mission is to collect, and aggregate data from around the world to create harmonized, comparable and predictive information that they enhance within their client's business processes.

The vision represents a pillar in driving our business towards the sustainability culture. We believe in long-term business relationships, strategic partnerships, business ethics and sustainable values.

What does ESG stand for?

Environmental, Social, Governance

Pillar E regarding Environment, is the most important without a shadow of a doubt, given the urgency of the issue and the challenging goals defined by the Paris Accords and set by the 2030 and 2050 Agenda, and to whose support institutions, public and private capital are being mobilized in order to veer toward a transitional economy.

The second pillar S i.e. Social, explores social problems such as the integration of disadvantaged people or migrants into the social fabric of a city, which has to devise services adapted to meet the needs of a changing population, rather than issues about poverty and how to make independent and productive territories that are currently more critical, from the point of view of economic-social conditions.

Moving on to the last pillar, G, Governance. Central themes in Governance and in the limelight, to support sustainable cultural change, are anti-corruption policies, equal payment between men and women, present of woman in company boards, work-life balance, rather than generational change within corporate and financial firms, which will have to secure themselves against the risk of leadership absence, which can go to the detriment of brand reputation.