consider areas such as turnover, staff numbers, governance practices and modern-day slavery policies, as well as identifying mandatory reporting regulations and customer requirements.
2. Materiality assessment
ESG can be as deep and as long as you choose, so it is important to set boundaries based on which topics matter most.
3. Establish a baseline
At this stage, you do not need to worry about your ESG maturity level, it is all about developing a reporting structure and measuring performance.
4. Develop ESG metrics and frameworks
It is important to choose frameworks and KPIs that align with your individual business priorities.
5. Set clear objectives and goals If you know exactly what you want to achieve, you have a much greater chance of success.
6. Strategic roadmap
The roadmap sets outs who will be responsible for various stages of delivery and a timeline for the project. Whether you decide to manage the process in-house or engage a specialist, you will need one person in the business to take the lead.
7. Strategy implementation Now it is time to source the data and identify any gaps.
8. Monitoring and reporting
With aims and goals established, and the first round of data secured, the next step is to track progress, verify data and report on your performance.
9. Continuous improvement and adaptation
ESG is not a final destination, but a journey to improvement. As regulations and expectations change, and your maturity increases, you will continue to refine and evolve the strategy for future needs.
www.tomorrowsfm.com
The devil is in the detail Most businesses start collecting carbon data by scope. Once they have identified Scope 1, 2 and 3, they expand into categories.
This is where interaction with the supply chain comes into its own. For example, in a recent ESG assessment, purchased goods accounted for 18% of Scope 3 emissions. These include everything from solicitor and gardening services to outsourced cleaning and whether you bought a first aid kit, so you will need to liaise with areas across the business.
Where will the future take us? The landscape is evolving so quickly that it can be difficult to stay on top of demands. New areas are added, new frameworks come into play and, when you incorporate the requirements of different customers with obligations from different countries around the world, the task is huge.
However, we can see the direction of travel. The first trend to consider is accountability. Where it may currently be acceptable to discount Scope 3 categories that do not apply, in future you will need to explain your decision.
Secondly, we can expect to see a move towards individual product footprinting. Especially for those suppliers selling multiple products, it will pay to start assessing the options for life cycle assessments that include manufacturing, usage and end of life emissions.
Conclusion Sometimes it can be hard to see the benefit of new ways of working and new responsibilities. However, those that embrace change will benefit from greater investor and customer confidence, resilience against future regulation, and opportunities to significantly reduce costs.
The shift towards more granular and more frequent reporting is not going to reverse. For FM, getting ahead of it now is far easier than trying to catch up later.
www.valpak.co.uk TOMORROW’S FM | 25
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