SIMPLEST VERSION OF ESG- Recently, the term ESG has been blossoming across various platforms, becoming a focal point of discussions in both corporate circles and societal segments. It has found its way into boardroom discussions, corporate governance reports, webinars, press releases, blogs, newspapers, and even government policies. The concept of “ESG” might seem intriguing, yet for many. It remains unfamiliar, overlooked, or simply not a matter of concern. I believe it’s high time we demystify ESG, presenting it in a straightforward manner. Illustrating its relevance in our everyday lives.
What the term ESG stand for?
Term “ESG” is simply a combination of 3 words – Environment + Social + Governance. The three components in the term ESG inherently suggest a connection to aspects such as nature, climate, human behavior, society, equality, growth, socialism, development, industry, and innovation etc.Environment is related to Natureemphasis on conservation of natural world, eco-system
Social is related to Peopleemphasis on human life well-being & connection
Governance is related to Processemphasis on equal & ethical development support.
ESG is Connected to Every Individual Life
ESG has impacted all of us in some way, making it crucial for us to comprehend how it intersects with each of our lives.
It affects every person, regardless of their business, occupation, region, gender, status, or age. It touches everyone who interacts with or is involved in any of the three components—environment, social, or governance—in any capacity.
ESG and Sustainability
ESG recognize in various ways and labelled differently depending on the audience’s perspective.
Sustainability, Sustainable Development, Business Responsibility, Sustainable Future, Green Investment, Sustainable or Responsible Investment, Circular Economy, Net Zero Carbon Emission, Carbon Footprint, Sustainable Lifestyle, Etc – all of these falls under the umbrella of ESG.
For Institutions, Business Corporate SustainabilityCorporates Making “Profits with Purpose”; Purpose is to take care of nature, people and adopting good governance, ethical business practices For Individual Human Life Sustainable LifestyleIndividuals Living Today for Future; Having lifestyle that meets today’s need without effecting future survival.
ESG Is A Discipline
ESG is a discipline that instils a sense of responsibility in everyone to maintain and protect the Earth’s habitability and its natural colours – Blue & Green
- It’s not about doing only plantation; it’s about nurturing responsibleness in behaviour towards both nature & society.
- It’s not about taking best out of world; It’s about giving access to better world.
- It’s not about quality resources enjoying today; It’s about quality resources left to enjoy future.
- It’s not about doing profit driven partnerships; It’s also about collaborating with nature.
- It’s not about how this costs now; It will about how it rewards in future.
- It’s not about why should we; It’s about how could we
- It’s not about merely regulatory disclosure; It’s about a responsible initiative to essentially act upon
- It’s not about to be social discretely; It’s about to be communal accountable.
- It’s not about adding lines to products; It’s about adding values to products.
- It’s not about creating capital; It’s about investing in nature & society.
About The Author
Name: Harish Gupta , a quailed Chartered Accountant who participated in the UNGCNI Conventions and founder of ‘The ESG People,’ an organization born out of the shared vision of a group of passionate change-makers.