Why are we reading about ESG so much these days? What has triggered conversations among global leaders on this subject? What makes these three-letter word ‘ESG’ stand out of all other priorities and garner so much of attention?
ESG which stands for Environment, Social and Governance criteria has suddenly been the talk of the corporate world for a while now. From unicorns to the leading conglomerates from an auto company to IT firms – they are all giving significant importance to ESG in their business goals. WHY has it become so important now? The answer lies in the recently launched book ‘Outlast – How ESG Can Benefit Your Business’. The book is co-authored by Mukund Rajan PhD, Chairman of ECube Investment Advisors a platform to catalyse ESG improvements, erstwhile Brand Custodian and Chief Ethics Officer – Tata Group and Chairman of the Tata Global Sustainability Council and Col. Rajeev Kumar PhD, Strategic Communications consultant and a Fellow of the International Association of Business Communicators, erstwhile Head of Learning and Development at Tata Group Corporate Communications. The eminent authors will take you through their journey and experience while managing large corporate and business groups and answer all your unanswered questions in this informative book. They were colleagues formerly at Tata Sons.
What does the book cover?
The book is broken down into eight chapters covering all aspects and elements of ESG. Each chapter is dedicated to a different pillar of ESG communication like Climate, Workplace, Governance etc. One key chapter which I found very interesting was the one on Shareholder Activism. The chapter takes you through aspects related to how shareholder committees were formed, how corporate governance evolved over a period, the transition it went through to be where it is now. Another highlight of the book (especially for communications professional like me) was on the influential role that media plays. The book is intense with lot of technical knowledge and jargons. Heavy to read for the first timer but the authors have tried to simplify the subject with insightful case studies from companies like Tata, Marico, Mahindra, Unilever, PepsiCo to name a few.
Three takeaways
- Demonstrate Responsible Behaviour: Investors look for businesses with strong focus on sustainability and Governance practices. Environment protection, ethical practices, investment in R&D for sustainable practices will be the key indicator for a strong business model
- End of Capitalism: Consumers will play a key role in deciding how and what they want to consume, strongly driven by the behaviour of the brand on environment and social paradigm
- ESG Investing: Digital technology – AI, ML is taking the centre stage. Transparency and quantification of a company’s performance will be anchoring the investment and growth piece in any firm
What’s in it for me?
The subject is of interest to me and the businesses I work with. The book is a ready guide for any business starting out in the ESG journey. Learn from the experts and come up with your own solutions.
My recommendation
If you want to gain knowledge on this sector please go for it. It’s an interesting read and highly recommended for consultants in the field of communications, especially for those who deal with established and new-age brands. Read it to understand the basics, to advice your clients or your leaders and to gain knowledge.
The views and opinions published here belong to the author and do not necessarily reflect the views and opinions of the publisher.
Sarika has previously had stints with with Weber Shandwick as Vice President - Client Experience, Adfactors PR, Text100 (now Archetype) and Perfect Relations. With keen observation and analytical skills, Sarika has successfully led PR campaigns for key brands across multiple sectors by leveraging her strength and expertise in the communications arena.
She is a post graduate in communications from Xavier Institute of Communications. She is based in Mumbai and in her free time loves to spend time with her daughters, play with her dogs, read and travel.
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