The ESG Show Episode 14: Is Diversity Good Business?
Host: Michael Baxter, Co-Founder and Editor-in-Chief at Techopian
Guests: Cheryl Cole - Strategic-focused Director and Diversity and Inclusion
Consultant Sascha Dalig - Regional Director Central Europe at Wyndham Hotels & Resorts
Renee Nicole Wagner - ESG Expert with passion
ESG (Environmental, Social, and Governance) frameworks have emerged as a strategic tool for businesses to not only enhance sustainability but also foster diversity, equity, and inclusion (DEI).
The integration of diversity into ESG efforts can drive significant business benefits.
Brand Reputation & Investor Attraction
Companies that incorporate DEI in their ESG strategies can improve their brand reputation and attract investors who prioritize social responsibility. Investors today are increasingly scrutinizing businesses' social policies, and strong diversity commitments make companies more attractive for long-term investment.Innovation & Problem Solving
Diverse teams offer a broader range of perspectives, which enhances innovation and problem-solving. A diverse workforce can provide insights into how environmental challenges impact different communities, leading to more comprehensive and effective solutions.Operational Efficiency
Incorporating DEI into ESG also improves operational efficiency. Companies with diverse leadership teams are more likely to manage risks effectively and seize opportunities, leading to better financial performance. For example, diverse teams are often better positioned to identify inefficiencies and opportunities in ESG-related projects.Employee Engagement & Talent Attraction
ESG efforts, when aligned with DEI goals, boost employee engagement by creating a more inclusive workplace. Employees are more likely to stay with companies that demonstrate a genuine commitment to equity and inclusion. Moreover, businesses that focus on ESG and DEI attract top talent, as prospective employees prefer companies with strong social and ethical standards.
By encouraging diversity, ESG strategies not only strengthen a company's social impact but also enhance its long-term business success.
Keep in mind ESG is still in the “works in a vacuum” phase and should be discussed, vetted and challenged until more concrete rules and regulations are finalized.
ESG is a very big area and is not without its critics. With greenwashing, capitalism and the argument of transparency and authenticity gaining traction it is imperative right now to break down these barriers and correct misinformation about ESG.
The ESG show aims to promote greater understanding of ESG issues and is the home of interesting and thought provoking discussions on ESG.
Powered by Techopian Limited and hosted by Co-Founder and public speaker, Michael Baxter to fly the ESG flag and speak openly about the positives and drawbacks around ESG and the use of technology in ESG strategy.
An ESG is not just a nice-to-have, it is absolutely essential to businesses now to sustain business longevity, attract sustainable funding and reduce the impacts of climate change.
Join The ESG Show every Wednesday for free to meet with various sustainability and diversity specialists and investors and Michael to discuss topical subjects which relate to ESG and debate the responsible use of technology in implementing ESG strategies.
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The ESG Show Episode 14: Is Diversity Good Business