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DQS ESG FastForward

DQS ESG FastForward

$890.00

SKU: CRSESGASSESSMENT Category:

WHAT IS ESG?

ESG is an acronym to characterize business issues and their related performance measures, which impact the operational and financial performance of a company based on how material they are relative to the company's context (i.e., industry, location, size, business model, competitive landscape).

ESG is set on the principle that the environment is only one factor in determining an organization's commitment to sustainability.

ESG is about the ability to create & sustain long-term value in a rapidly changing world, and managing the risks & opportunities associated with these changes.

ESG consists of three pillars that stand for Environmental, Social, and Governance, which are key factors used to evaluate the sustainability and ethical impact of an organization's operations and investments.

 

IMPORTANCE OF ESG

ESG considerations have become increasingly important to investors and other stakeholders who are looking for companies that demonstrate a commitment to sustainability and ethical practices.
Companies that prioritize ESG factors are viewed as better positioned to manage risks, build resilience, and create long-term value for their stakeholders.

ESG criteria are also used by rating agencies, index providers, and other organizations to evaluate and rank the sustainability performance of companies and investments. This in

 

ESG FOR SME

ESG (Environmental, Social, and Governance) is not only a framework that is becoming increasingly important for Global players and publicly listed companies, but it also is applicable for SM Es (Small and Medium Enterprises).

While ESG can bring benefits like improved brand reputation, access to financing, and better relationships with stakeholders, SMEs also can face unique challenges when it comes to implementing ESG initiatives such as:

  • Limited resources,
  • Lack of expertise,
  • Difficulties in managing of supply chain,
  • Reporting requirements,
  • Access to financing.

Given these challenges, SM Es can still benefit from ESG initiatives by implementing the requirements given in the model "DQS ESG FastForward" which is purely designed for SM Es, so they can improve their brand reputation, access financing, and build stronger relationships with their stakeholders.

The "DQS ESG FastForward" is applicable to all SME companies regardless of the size, industry, and location.

The DQS ESG FastForward is built on 4 categories:

  • ESG Policy: in this field, the businesses are required to assess the current pertinent policies in light of Environment, Social, and Governance aspects.
  • Environment: in this field, the businesses are required to assess all relevant environmental factors, including energy use, greenhouse gas emissions, water use, waste management, etc.
  • Social: in this field, the businesses are required to assess all important social factors, including human rights, DEi, labor laws, and product safety.
  • Governance: in this field, the businesses are required to assess all relevant economic and governance factors, including compliance, anti-bribery, data protection, and cyber security, among others.

The "DQS ESG FastForward" is designed as 2 phases:

Phase 1:
The "DQS ESG FastForward" self-assessment tool allows SME companies to evaluate their environmental, social, and governance practices and performance. This assessment can be conducted by the company's management or sustainability team to gain insight into their ESG performance and identify areas for improvement including energy, water, waste, supply chain, employee diversity, labor, product safety, and risk management. Based on the integrated rating system, the assessment will result in a confirmation level of ESG compliance and can be communicated to stakeholders and investors, to improve the reputation as a socially responsible and sustainable business.

Phase 2:
To ensure accuracy, transparency, and to mitigate the risk of being accused of greenwashing or any other form of color-washing, companies have the opportunity to undergo an external assurance process. As part of this process, companies can choose to have each identified "material issue" stemming from the relevant Environmental, Social, and Governance (ESG) pillars verified and assured by teams of qualified practitioners from DQS.

Overall, DQS ESG FastForward is an important tool for companies looking to improve their sustainability performance and align with global sustainability standards and frameworks.

To learn more about registration on the portal, watch this introduction video

Contact us at elearning.sa@dqs.de for more information.