As part of our summer learning series on ESG, our fourth session addressed how pre-IPO and post-IPO companies pick ESG frameworks and report, disclose, and communicate them. Read the recap below and access the workshop resources here.
In Part 3 of our summer learning series on ESG, we learned about conducting materiality needed for ESG initiatives. We understood that in order to solidify our ESG roadmap, we need to bring in stakeholders, build a team with various responsibilities, and stick to our vision and values when conducting analysis.
In this third session, Kari Hayden Pendoley moderated our conversation with Danielle Conkling of Silicon Valley Bank, Marian Macindoe of Uber, Sunya Norman of Salesforce, and Lindsay Vignoles of Rodan+Fields as they talked about what material issues their companies report and disclose on. Here are our 3 takeaways from the event:
1. Your ESG strategy must be grounded in a materiality assessment.
Philanthropy has been around for a long time with people improving natural and human capital, however ESG as a function is fairly new. There are numerous world crises. Focus on the material issue that impacts your stakeholders the most, develop and execute a strategy around it, and then manage and report with concrete data.
2. Data collection and reporting is an evolving cross-functional process.
Reporting and managing ESG statistics is a long process that involves a number of teams and different stakeholders. It’s a journey that might feel difficult to go through, especially if you’re a one-person team or leading a new initiative in the company. Sharing your ESG commitments with your stakeholders will be more effective using credibly obtained data.
3. Recognize that ESG reporting brings more opportunities for social impact.
With your knowledge of world issues, what your specific industry is tackling, and by understanding the demands of your stakeholders, your ESG program should reflect your company’s unique element or superpower and disclose what is material to you. ESG and social impact encourages collaboration rather than competition, and by working together with other businesses, governments and regulators can help maximize your impact.
To learn more, watch the full recording of the conversation below.