ESG has evolved as a consequence of investment principles and more socially responsible investing. ESG stands for Environmental, Social and Corporate Governance. These aspects are no longer only optional tendencies in the contemporary business world. ESG has entered prevailing currents of corporate systems and is here to stay. Why?
The answer is simple — It provides competitive benefits for companies. ESG is a powerful tool with which companies can earn respect and do some good. This feature of a business can appear particularly interesting to investors and stakeholders who are more likely to infuse their assets into enterprises with a clear ESG strategy.
If you are interested in finding out how to start implementing the principles of ESG into your office design, continue reading as we at Think Contemporary have prepared some strategies to help you out on your journey. But before we start, we need to clarify each individual component of ESG and what it really stands for.
The “E” stands for Environmental, symbolising carbon footprint, energy efficiency, emissions of greenhouse gases (CO2, Methane, Nitrous Oxide and fluorinated gases), climate change, waste and water management, air, water and soil contamination, land erosion and deforestation.
The “S” stands for Social which represents human rights, labour norms, fair wages and welfare, social and racial justice, board and establishment impartiality, health and safety, data and privacy protection, HR resources and talent management, personnel relationships, supply chain management and other social topics. Last but not least, the “G” is for Governance which represents management of environmental and social factors. This is the manner in which company representatives are elected, executive boards are structured.
Now, here are some ways in which you can integrate ESG in your organisation:
Environment
A great number of large corporations are committed to working hard towards achieving net zero emissions. Middle and small businesses can contribute to these efforts as well. The biggest sources of carbon emissions are the buildings themselves. And while a new-build is already apt for a green energy certificate, older builds are in need of an upgrade.
Carbon footprint at workplaces can be reduced by lowering energy consumption needs to run the building. Introducing green energy sources, new plants and technology can be a great way to decrease the level of operational carbon. Another great initiative can be the introduction of multi-purpose furniture, tools and apparatus that are produced in a more mindful way with less embodied carbon. Materials such as wool, timber or bamboo are easily recyclable and easily renewable. By using more of these renewable materials, companies are opting for more environment-friendly alternatives. Making a commitment to reduce the production of waste is a great path to establishing impactful environment principles in your company.
Social
Your employees and collaborators are your biggest asset. Make sure to continuously invest in your staff. This factor represents how a company nurtures the relationships with its staff. The office should be a place where everyone comes together, exchanges their ideas and shares their knowledge and experiences. The company should enable the professional and personal growth and development of their workforce. And of course, the well-being of your employees is a matter of the utmost priority.
Fair wages, inclusion, social spaces in work, educational training and seminars, team-building activities, work/life balance, are just some of the techniques in which you can reach the sociable factor of ESG.
Corporate Governance
Establishing the appropriate corporate governance strategy is imperative for any business. Introduction of diversity and inclusion policies, elimination of child labour, transparent supply chains and having an ethical organisation are important, like all the aforementioned steps for reaching ESG. Selection of competent and presentable board members, strategies and manner in which they lead the whole company forward is another determinant worth mentioning.
With the global challenges of the past year, the importance of companies and businesses being transparent in their processes and operations is increasingly vital. Therefore, every business needs to incorporate principles of ESG as soon as possible, regardless of its scale.
We at Think Contemporary have over 10 years experience in the office design sector working as Interior Designers in Dublin and at implementing ESG strategy in office design.
Are you thinking about an office refurbishment to take your workplace to the next level? Contact us today to speak to one of our designers.
