Angad Rajain, Global CSO & IFM Head, Tenon FM deconstructs the complexities of the ESG framework through the lens of facility management, explains its essence and benefits, and lists down an action plan for companies to become ESG-compliant.
There is a lot of misunderstanding about what ESG is and what it entails. Many people mistakenly use CSR and ESG interchangeably; while they do have some overlap, they are not the same. In a nutshell, ESG stands for Environment, Social, and Governance. To put it in simple terms, this is how organisations measure and monitor how far along their organisation is on the path to sustainability.
If I go a step further, ESG becomes the driving principle for how a company defines its vision and goals to function ethically and responsibly, in a sustainable manner. It provides a framework for tracking and disclosing how our operations have a negative or positive impact on the environment in which we work.