The Evolution of ESG within Internal Communications VMAGROUP

The Evolution of ESG Within Internal Communications

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The Evolution of ESG Within Internal Communications

​VMA GROUP was delighted to host another insightful Internal Communications Advisory Board event with our guest speaker, Natalie Waugh, a Communications Specialist, with expertise in ESG Strategy and social impact programmes.

Our Advisory Boards are an ongoing series of networking experiences catered towards professionals within the Internal Communications function. Run every quarter, they are chaired by our CEO, Andrew Harvey, who leads the discussion with a focus on a chosen topical area.

What’s the difference between ESG and CSR?

ESG (Environmental Social Governance) has evolved rapidly over the last few years from the more commonly known terminology of CSR (Corporate Social Responsibility). CSR was typically a part of the marketing or corporate communications team with a bias towards philanthropy, involving positive PR, charitable donations and various employee volunteering opportunities.

One of the main criticisms of CSR was the self-regulation and freedom to pick and choose the issues that need highlighting in order to boost the organisation’s image. On the other hand, ESG requires more precision and focuses on measurable efforts. For example, rather than pledging to “support sustainability efforts,” ESG would highlight the steps necessary such as managing carbon footprint, preparing a climate change response or establishing sustainable supply chains.

The benefits of ESG strategy

ESG is an incredibly beneficial tool for investors, which provides a clear and concise overview of measured business efforts. Depending on the industry, these can involve quantifying the use of natural resources or conflict materials, assessing carbon footprint and truly understanding how they impact the local areas they operate within, such as the provision of jobs to the immediate community. The adoption of ESG has become a fundamental part of business operations and currently, it is topping the agenda at the board level.

As a strategic function, ESG aims to demonstrate a more involved effort – one that sits at the core of the business. Therefore, we are witnessing a heightened interest in obtaining appropriate accreditations and following frameworks. However, the opaque nature of the status occasionally raises questions about the value they present. In particul