Environmental, Social, Governance (ESG)
Every printing operation, even if they are not publicly traded, touches each component of Environmental, Social, and Governance.
What is ESG?
ESG has become an imperative for all printing companies and means using these factors to evaluate a company’s sustainability profile. ESG data is analyzed by investors to make sustainable investment decisions. While the consideration of ESG criteria helps mitigate risk, it is evolving to serve as a driver of innovation and new opportunities that create long-term value for business and society. This affects printing companies that supply ESG reporting companies.
Environmental
Environmental factors involve examining how a business performs as a steward of our natural environment. Examples of these factors include air and water quality, biodiversity, carbon footprint, including greenhouse gas emissions, climate change, energy performance, and waste and pollution.
Social
Social factors address how an organization treats people, including these examples, community relations, customer satisfaction, data protection and privacy efforts, employee relations, diversity, equity and inclusion, labor standards, workplace health and safety, working conditions and human rights.
Governance
Governance examines how a corporation polices itself, focusing on internal system controls and practices to maintain compliance. Governance focuses on transparency, industry best practices, organization management and associated growth initiatives. Examples of governance include board diversity and structure, company leadership, corruption and bribery, donations and political lobbying, executive compensation and policies, tax strategy, and whistleblower programs.