Environmental, Social and Governance (ESG): What small businesses need to know
Join us as PennTAP and subject matter experts discuss the history, global trends and impacts of Environmental, Social and Governance (ESG) frameworks, especially as they relate to small to medium-sized enterprises (SMEs).
In this webinar, we will outline what SMEs need to know about ESG and discuss steps organizations can take to create and implement an internal ESG program to be better prepared for this new corporate standard.
Additional Information:
Environmental, Social, and Governance (ESG) considerations are rapidly becoming crucial, non-financial metrics used by investors to identify corporate risks and benefits. Shareholders are demanding ever-greater corporate accountability in the areas of climate resiliency, environmental stewardship, philanthropy, human rights, diversity, equity, and inclusion. These consumer demands have driven the development of formalized ratings and criteria for assessing and comparing companies’ commitments and performance in these areas.
Large corporations often have departments or divisions dedicated to developing, implementing, and reporting ESG metrics, but many small to medium enterprises (SMEs) have no such internal resources. However, SMEs will be required to comply with the ESG framework utilized by their customers, as the SME’s social and environmental performance ultimately reflects on their clients down the value chain. In some cases, this can create a significant barrier to entry and new costs of doing business for SMEs, as they may need to add staff, divert funds, or reassign personnel from other areas of the business to focus on ESG disclosures and compliance matters.