There has been a growing focus on the Environmental, Social and Governance (ESG) aspects of managing organisations in recent years, and we know there is a need to act. But is this seen as a fad or it there a genuine desire to deliver lasting changes in these areas?
The regulatory requirements
How to manage the change
We are now seeing many major organisations setting enterprise-wide transformation strategies and Net Zero Carbon Programmes to support these in response to this regulatory and legal backdrop. However, many others pay lip service to these areas and are not investing in lasting change. Some organisations will be leading the way in terms of strategy, change programmes, reporting and monitoring leading to lasting culture change. Others will be partially responding and may have a policy or strategy published, but many others will not have developed policies, strategies, plans or even see any need to act. This is a mistake.
The legal requirements
The UK Government has explicitly stated that: It expects all organisations to have a Net Zero Carbon strategy by 2023 In addition, from 6 April, it will be mandatory for 1300 of the UK’S largest organisations to report on the Taskforce on Climate Related Financial Disclosures (TCFDs). Typically, this will be any organisation over 500 employees or with a minimum £500m turnover.
Are you ready to comply?
If not, or you are not sure, then time is running out to act. ESG monitoring and reporting requirements are growing and the action to enforce compliance is only going to get stronger so, it is time to act and ensure any change activity required to deliver this is planned, funded and resourced adequately and taken seriously across organisations. If not, a superficial approach will end up in serious repercussions.
Do you need change expertise?
At Project One, we are used to supporting organisations across sectors with the regulatory change and are supporting customers with their ESG transformation programmes. For more information, please get in touch.
Programme assurance, recovery or implementing change, our change experts work with you on your most complex business transformation.
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