ESG Sustainability Standards
ESG sustainability standards bundle three quite different subjects, and Australian organisations tend to read the acronym as being mostly about the first letter.
Environmental. Emissions, waste, energy and water. Increasingly measured and disclosed.
Social. How you treat workers and the communities you operate in. Safety, psychosocial risk, modern slavery in supply chains, pay equity and diversity.
Governance. Board oversight, internal controls, conduct standards and accountability for all of it.
The social component is where most existing Australian obligations already sit, and it is usually the least resourced of the three in an ESG programme. Organisations build carbon accounting capability while their modern slavery statement and psychosocial risk work sit with someone doing it alongside another job.
If your ESG programme has a full-time environmental analyst and a part-time modern slavery owner, that is worth examining. Safe Work Australia covers the workplace side. This is general information rather than legal advice.
See Sentrient’s modern slavery course and GRC system.
The Australian Sustainability Standards
Whether your organisation is embarking on its ESG journey or is already well-versed in sustainable practices, it is important to consider the upcoming mandatory reporting on Sustainability Standards. This development has significant implications for various aspects of your business, including governance, processes, and personnel. ESG reporting responsibilities will be distributed among different functions within the […]
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