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In an industry that loves 3 Letter Acronyms, ESG is perhaps one of the most important to the world we live in.
In fact, ESG isn’t limited to Telecoms, or any other particular industry, you see, ESG stands for Environmental, Social, and Governance and refers to a set of criteria used to assess a company’s performance in these three areas.
You may have heard of ESG, but what does it really mean to a business? How is it measured?
Here’s a brief overview of each component:
- Environmental (E): This aspect focuses on a company’s impact on the environment. It considers factors such as carbon footprint, energy efficiency, waste management, water usage, and overall efforts to reduce environmental harm.
- Social (S): Social factors assess how a company manages relationships with its employees, customers, suppliers, and the communities in which it operates. Social considerations include labour practices, human rights, diversity and inclusion, community engagement, and product safety.
- Governance (G): Governance refers to the structure and practices that guide a company’s decision-making and accountability. It includes aspects such as board composition, executive compensation, shareholder rights, transparency, and adherence to ethical business practices.
How are ESG measurements used?
ESG criteria are often used by investors, analysts, and other stakeholders to evaluate the sustainability and ethical impact of an investment or business.
Many companies are increasingly integrating ESG principles into their strategies as a way to demonstrate a commitment to responsible and sustainable business practices. ESG considerations have become an important aspect of investment decision-making and corporate governance.
While some business practices around the world have made drastic changes to our environment, perhaps more than was realised at the time, but its not too late, and measuring a company’s performance in terms of ESG is just the first step in looking after our surroundings.
At NT we have always kept our environment in mind as we plan for the future.
Our sales force have been moving to electric vehicles to remove the reliance on fossil fuels, our power is supplied by green suppliers, and of course, we keep an eye on our energy usage, printing only what is required and turning off lights where appropriate. Our online customer portal is just one way we’re reducing and improving our resources.
Research shows that consumers are willing to pay more for a service if it comes from a ‘greener source’ – however this doesn’t seem right to us. Despite increases in costs worldwide, we continue to keep our prices as low as we can.
We are determined to continue to provide excellent customer service while also looking after our environment, and want to be transparent while doing so.
Please contact us for further information on our ESG Policy and future plans.
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