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DEVELOPMENT OF AN ESG STRATEGY

The development of an ESG strategy involves assisting companies in creating a comprehensive strategy for Environmental, Social, and Governance (ESG) that aligns with their business goals. Identifying key ESG issues is an important step in developing an effective ESG strategy for a company. This process includes the following aspects:
Industry and Company Analysis: This involves examining current trends, regulatory requirements, and risks and opportunities associated with ESG. Risk and Impact Assessment: Assessing the company’s impact on climate change, sustainable resource use, worker’s rights, and corporate transparency.

Linking with Business Goals: Connecting the identified ESG issues with the business goals and strategy of the company, to ensure that ESG initiatives are integrated into the overall business strategy.

Identifying Key ESG Issues

Analyzing and determining the ESG factors that are most significant for the company and its industry. This may include issues such as environmental management, social justice, diversity and inclusiveness, corporate governance, and others.

Setting Goals

Setting specific, measurable, achievable, realistic, and timely (SMART) goals for each identified area of ESG. The goals should be aligned with the overall strategy and goals of the company.

Integrating ESG into Business Planning

Incorporating ESG considerations into all aspects of business planning and decision-making, including product development, operations, marketing, and corporate communication.

Developing an Action Plan

Creating a detailed action plan to achieve the set ESG goals, which includes specific initiatives, responsibilities, timelines, and monitoring methods.

Monitoring and Reporting

Establishing processes for continuously tracking progress and measuring results in the area of ESG. This may include regular reporting to stakeholders and updating the strategy in response to changing conditions and gained experience.

The development of an ESG strategy is key for companies that strive to be sustainable and socially responsible, while simultaneously improving their competitiveness and corporate reputation.

Horizons Bulgaria is a consulting company with 20 years of experience and presence among leading business practices

Our ESG consulting services will support the development of a corporate ESG strategy, action plan, and implementation of changes, monitoring, and automated monitoring through software appropriate for your business. Analysis, reporting, and public sharing of results.