Identify how you can communicate your values, build trust and reputation along with an ESG strategy. This section is also about your customers and how they take ESG into the buying process. Customers will more likely buy products or services from brands they trust and are aligned with their viewpoints on environmental and social topics. There is a chance to establish and communicate a competitive edge over the competition based on that.
The key results of this section are stakeholder engagement and materiality. Learn how to identify your key stakeholders and know more about their values, views and priorities. Stakeholder engagement helps to establish better communications and foster business. Stakeholder engagement is about employees, too. Creating a good alignment between the vision and mission of a company and the personal values of employees can lead to better productivity, better employee retention and finally to higher profitability.
Materiality is all about identifying the factors that may influence your business. Each industry is different and factors that may not be relevant today, may become relevant in the future. A materiality map can also help to identify areas of risk exposure.
Stakeholder engagement and materiality mapping offers you valuable insights