Understanding the Ins & Outs of ESG Communications
31 March 2023 13:00
Environmental Social Governance (ESG) programs have quickly gone from niche undertakings aimed at earning positive press and attracting investors to must-have practices for companies of all sizes, in every industry. And for good reason—most individuals, from consumers and investors to existing and future employees, are placing increasing importance on the sustainability efforts of the companies they interact with. According to recent studies, 88% of consumers will prioritize spending more on a product with an ESG focus, and 86% of employees prefer to work for a company that shares their values.
As ESG programs continue to rise in popularity and importance, organizations need to be prepared for the steps required to make them a success. To help, Nexis® Media Intelligence has created a new Ebook focused on exploring the process of getting an ESG program off the ground, some of the most common challenges organizations face in the planning process and a few best practices for achieving success.
Titled “The Ins & Outs of ESG: A Guide to Building a More Sustainable Organization,” the Ebook is a valuable read for any professional communicator. Whether your organization has already launched an ESG initiative or is in the process of planning and implementing one now, here are a few takeaways you can expect to find.
What’s at stake
While some organizations and/or executives are still taking a “wait and see” approach to ESG, evidence is mounting that staying on the sidelines means losing out on significant revenue and growth opportunities. Yes, the cost of developing, launching and maintaining these programs isn’t insignificant, but they’re also linked with real-world ROI. According to McKinsey, the top ESG-performing companies grow 10-20% faster than competitors. Another recent study in Europe also found that organizations at the forefront of ESG initiatives are even seeing 12% higher stock returns.
Not only that but having—or not having—an ESG program is directly connected to what new opportunities are at your disposal. According to Sustainability Magazine, “24% of respondents said there was a ‘high’ risk of losing business—or eligibility to bid for new business—if they failed to meet acceptable ESG standards.”
The art of five-point ESG media monitoring
Knowing what factors to consider when developing an ESG-focused media monitoring program can be overwhelming. The field and consumer expectations are shifting all of the time, and the influence of your ESG efforts span well beyond the four walls of your corporate headquarters.
Our new Ebook helps you get started, laying out five key areas an ESG monitoring program should focus on. This five-point process ensures you never miss out on important breaking news that should impact your efforts. From competitors and suppliers to emerging trends and beyond, these five “points” can be used to follow the progress—or failures—of your ESG programs, helping to frame adjustments to your initiatives along the way.
ESG communications pro-tips
Developing a comprehensive communications strategy that clearly and transparently shares your company or brand’s efforts with its audience is a crucial step in ESG initiatives. “The Ins & Outs of ESG” touches on the internal strategies needed to integrate ESG programs into your company practices, as well as which proactive and reactive communication tactics are needed to share your ESG journey with the public.
The ESG movement has grown rapidly in the last decade and shows no signs of slowing down anytime soon. If you’re interested in learning more, be sure to download our free Ebook today. And if you’re ready to take your ESG efforts to the next level, Nexis® Media Intelligence and Nexis Newsdesk is here to help. Contact us today to learn more.
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