ESG implementation guide getting started

Why ESG, and why now? Increasing shareholder and stakeholder focus driven by a desire to minimize risk, increase shareholder value, and/or contribute to solving environmental or social problems has given rise to sustainable investing. Client and CEO letters in 2020 from Black Rock and State Street two of the world’s largest institutional investors focused on ESG topics, and influential organizations such as the Business Roundtable and World Economic Forum have weighed in on stakeholder relations and ESG disclosure. The US Securities and Exchange Commission (SEC) addressed the topic of ESG disclosure in its Investor Advisory Committee meetings during the course of 2019 and 2020 and in Commissioner speeches in 2019 and 2020. It also included a reference to a key ESG concept (human capital management) in a recent proposed rule revision. The purpose of this guide is to provide corporate professionals charged with tackling ESG programming, risk management, and disclosures with a lens through which they may:

1. Ask questions relevant to their business model, their culture, their
   stakeholders, and the competitive landscape;
2. Find the right balance between fulsome and excessive disclosure, which
   could lead to competitive disadvantage and additional legal exposure; and
3. Use these resources to develop an initial ESG strategy, infrastructure, and
   reporting framework.

This guide is not meant to be all-encompassing. Rather, it is meant to provide companies with practical tools for developing and implementing an ESG program. Itis also meant to build on the Society’s 2018 publication, The ESG Roadmap. Every ESG program is different there is no one-size-fits-all approach. Relevant ESG disclosures depend on a variety of factors, including a company’s industry and business, life cycle, current situation, cultural appetite for change and disclosure.

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