Get buy-in from orgs to engage with IDG's if they only think ESG is the bee's knees
Dear beautiful souls,
I have been bathing in the IDG ethos for some time now and from an ESG perspective, wondering how relevant and important you see the IDG's fit in?..
Could this be a leverage point to get a foot in the door? As I would love to inspire organisations in my circles to engage with the IDG's and have not yet been successful.. (I'm targeting mostly 1st big4 and other financial organisations..)
Many organisations nowadays talk about ESG but it seems to be more leaning to disclosure compliance (e.g. via CSRD etc), rather than a focus on what causes actual sustainable impact..
Would you have any insights as to why engaging with the IDG's for them is crucial at this point and how it will speak to their high value priorities which we all know is maximising profits while making sure of compliance requirements.. Which we know only bigger financial organisations need to disclose in next yrs, I believe from 2027 onwards, on ESG..
Examples in my area that confuse me:
A large national public umbrella organisation calling them "House of sustainability", was not interested to engage in a conference on IDG's for sustainable impact that we are trying to organise via our IDG hub as they feel it is not relevant? I haven't seen the detail disclosure requirements myself but apparently ESG disclosures pertaining to "inner development" is not material so why bother spending money on IDG initiatives for sustainability..
Thanks for your wonderful insight!
As reference I include some background (pls correct if me wrong):
ESG (from ecologies website mostly)
The term ESG was popularly used first in a 2004 report titled "Who Cares Wins”, which was a joint initiative of financial institutions at the invitation of UN.
Environmental, social, and corporate governance (ESG) is a set of aspects considered when investing in companies, that recommends taking environmental issues, social issues and corporate governance issues into account. It prioritises a model of looking into business that links directly profit to a positive impact on ecology, society and honesty.
Since 2020, there have been accelerating incentives from the United Nations (UN) to overlay ESG data with the Sustainable Development Goals (SDGs).
CSRD
= EU directive
- to highlight company’s commitment to its "social impact" and ESG
- is also transforming US sustainability reporting
- CSRD requirements defined by the European Sustainability Reporting Standards, or ESRS as part of EU initiative to direct investments to sustainable projects in line with new EU Green Deal
- CSRD comes from NFRD but includes more
- Beyond targets and metrics, the CSRD disclosures include sustainability governance, the interaction of sustainability impacts, risks and opportunities with the business strategy and policies and action plans to manage those impacts, risks and opportunities.
- The only real social spotlight is on.. workforce, gender equality and disability
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Marise Hyman
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Get buy-in from orgs to engage with IDG's if they only think ESG is the bee's knees
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