40: ESG for Small Businesses
What does ESG mean and what does it have to do with my business? It stands for Environmental, Social and Governance, it has been in the news lately and talked about in the World Economic Forum. This week on Build Value By Choice, Nana will be discussing ESG investing and the three factors associated with it and how using ESG can help you better position your business for success.
KEY TAKEAWAYS
Environmental factors include the contribution a company or government makes to climate change through greenhouse gas emissions, along with waste management and energy efficiency. Given renewed efforts to combat global warming, cutting emissions and decarbonizing is becoming more important.
Social include human rights, labor standards in the supply chain, any exposure to illegal child labor, and more routine issues such as adherence to workplace health and safety. A social score also rises if a company is well integrated with its local community and therefore has a ‘social license’ to operate with consent.
Governance refers to a set of rules or principles defining rights, responsibilities and expectations between different stakeholders in the governance of corporations. A well-defined corporate governance system can be used to balance or align interests between stakeholders and can work as a tool to support a company’s long-term strategy. Governance can also refer to the standard of government of nations.
ESG can help your business in a number of ways. Firstly, it can help small businesses attract and retain investors. Secondly, it can help improve operations. Thirdly, it can help build better relationships with stakeholders. Fourthly, it can help you position yourself for success in the future.
BEST MOMENTS
‘ESG helps small businesses attract investment capital’
‘By making ESG a priority, small businesses can show stakeholders that they’re committed to making value in the long term’
‘A company that focuses on reducing its environmental impact can save money on energy costs’
EPISODE RESOURCES
energystar.gov
https://betterbuildingssolutioncenter.energy.gov/
https://www.dol.gov/agencies/odep
https://www.asbnetwork.org/
https://www.sbnmass.org/
https://www.responsiblebusiness.org/
VALUABLE RESOURCES
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PODCAST DESCRIPTION
Hosted by Nana Bonsu of Infinite Horizons, this show aims to serve small business owners who want to grow their businesses while reducing their own personal involvement. We do this through a combination of interviews with industry leaders, and host presentations. We are certified value builder advisors and leverage a statistically proven methodology to help clients such as you scale or transition their business to the next chapter.
We care for our listeners and see their dreams as our own. We aim to foster a community that embraces freedom, generosity, and integrity. This is a show by entrepreneurs and business owners for entrepreneurs and business owners.
ABOUT THE HOST
Nana Bonsu:
“I am an entrepreneur and ex-Corporate Executive who’s applying his experience and knowledge from working in various ways to pursue my passion of helping small business owners increase their choices in life by leveraging my knowledge and experience, their employees, systems and money. I help small business owners transform their business and increase value through action-oriented education and implementation of strategies and tactics to make their business sellable even if they are not planning on selling. Known for establishing an environment for personal growth and development. My multicultural background equips me with the intuitive understanding of different cultures and how they impact business owners.”
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