FROM VISION TO IMPACT EP 5 : DEVELOP AN ESG STRATEGY

A Dave and Dharm DeMystify Special Series - From Vision to Impact with Shargiil Bashir

This episode examines the intricacies and significance of crafting a robust ESG (Environmental, Social, and Governance) strategy that harmonises with both internal objectives and external expectations. Despite its perceived complexity, an ESG strategy is no different from any other business strategy. Setting a clear roadmap, prioritising short-term, medium-term, and long-term goals, and making these goals quantifiable is the key to success.
L'Oreal and Unilever are mentioned to demonstrate the importance of integrating ESG principles, with Unilever's initiative encouraging its associates to help limit environmental damage, as well as through annual performance reviews. The UN’s sustainability goal also plays a significant role, becoming more relevant than ever due to factors such as climate change, social inequality, and environmental degradation, to set a blueprint for a better and more sustainable future.
Shargiil mentions the importance of linking ESG goals to core business functions such as finance, HR, procurement, and operations to ensure cross-functional buy-in, as well as advocates for embedding sustainability into corporate governance through dedicated committees or ESG departments. Strategies are dynamic and reviewed periodically to adapt to changes in regulations, market trends, and stakeholder expectations.
The conversation reinforces the idea that a clear, integrated, and well-communicated ESG strategy is crucial for long-term success and sustainability. By crafting thoughtful, data-driven strategies, companies can improve risk management, access capital, enhance brand loyalty, and future-proof their operations.