In the following article we will see what corporate sustainability consists of, and valuable advice will be provided on how to improve it: it is in fact a determining factor, today, for a successful company that is attentive to contemporary needs.
What are ESG parameters
When we talk about corporate sustainability, understood as the commitment to having a positive impact on the environment in which it operates, it is essential to explain what the ESG parameters. These indicate criteria for evaluating the corporate sustainability of an institution, divided into three categories Environmental (aspects such as CO2 emissions, use of renewable energy...), Social (worker welfare and protection) e Governance (management of the company according to good practices).
ESG parameters not only establish how sustainable a reality is but also function as an aspirational model and operating standards for companies (and nations) that wish to become more sustainable, and therefore also more competitive on the market. In this sense, in fact, the companies that most respect these criteria are the favored ones from an investment point of view and in terms of public image.
These parameters do not only refer to the commitment to reducing the company's impact on the environment, but also to many other factors on which to concentrate energy. Among these, there is for example thesocial impact: from this point of view a company has the objective of developing a positive working environment regarding safety, i workers rights, equality and social justice and employee well-being and inclusion.
Another very important aspect in reference to the Governance criteria is the economic sustainability, which is measured based on various factors, such as the company's ability to invest in technology and research, adequate remuneration for workers, the contribution made to the local economy and, finally, a pricing policy that is fair.
How can a company become more sustainable?
For a company starting its journey towards sustainability, ESG parameters are therefore a beacon. However, the process is not always immediate because it requires a significant cultural and organizational change. The obstacle is often practical and technical challenges: Not all businesses have the resources to go it alone.
The tendency is therefore to rely on industry experts, capable of facilitating the journey. For example, 3Bee, a climate tech company, offers biodiversity regeneration and monitoring projects through technology to help companies improve their ESG standards. With this objective, 3Bee has developed several environmental innovations and has implemented projects alongside over 500 companies in 10 countries that have chosen to concretely contribute to the protection of biodiversity.
For companies, the support of tech specialists, such as 3Bee, is essential: the use of technology allows you to obtain clear and quantifiable KPIs, which translate into a reliable report. A useful tool for communicating the actions undertaken within the sustainability report in a clear and transparent manner.
Corporate sustainability in Italy today
The first time ESG was talked about was in 2005 but it is in recent years that they have emerged as a global approach to evaluate the sustainability and impact of a company or investment on society and the environment. They are the fruit of awareness on the issues such as the limits of the environment and the management of resources, whose points of reference are, for example, the 2030 Agenda for Sustainable Development promoted by the UN or the 2015 Paris Agreement.
With respect to these themes, aConfindustria investigation conducted between October and November 2023, highlighted how Italians are positively involved. For 80% of consumers corporate sustainability is a relevant factor for the purchase (right after quality and price). Among those interviewed, the younger core expressed the habit of inquiring about the sustainability of a brand before buying a product. In addition to the environmental impact, for 46% one of the criteria for evaluating a company's work is the protection of workers and respect for equal opportunities (41%).
Large companies are at the forefront of sustainability issues, but SMEs are also increasingly active. L'latest ISTAT report of April 2023 in fact it reveals that the 36% of small and medium-sized businesses have taken concrete action and implemented projects in the field of sustainability. Although smaller businesses sometimes have fewer resources to invest in training and optimization, the path being taken is the right one and partners like 3Bee can represent an important support by providing biodiversity regeneration and monitoring solutions to every type of business.