What is Sustainability?
The concept of sustainability has been introduced by the UNWECD and defined as: “Development that meets the needs of the present without compromising the ability of future generations to meet their own needs.” Specifically, sustainability goes beyond corporate social responsibility (CSR), further encompassing 4 dimensions:
What is ESG?
Sustainability has further evolved into a framework of environmental, social, and governance (ESG) matters, where stakeholders (especially investors) have become increasingly interested in a company’s ESG performance. This interest has been met with a range of firms that assign ESG scores to companies in reflection of their performance, and include them in ESG indices that attract ESG-conscious investors. These raters/indices include, among others, MSCI, Refinitiv, FTSE, Sustainalytics, S&P Global, among others.
What are Developments in Sustainability / ESG:
Nowadays, stakeholders expect corporations to adopt environmentally, socially, and ethically balanced business behavior. Likewise, regulators have increasingly focused on the triple bottom line aspects “social, environmental, and economic” of the sustainability development to avoid unpredictable business crises. This trend is supported by a range of standards and frameworks, including the UN Sustainable Development Goals (SDGs) and the Global Reporting Initiative (GRI).
As a result, sustainability / ESG has been evolving globally, and increasingly in the Middle East among public and private entities of different sizes and industries. The concepts of sustainability / ESG have become a strategic priority for organizations, opening up new opportunities to reduce costs and increase revenue while identifying and isolating related risks.
How Can We Add Value?
RSM Albazie & Co. Sustainability Services focuses on continual improvement by covering the “triple bottom line” aspects and ensuring smooth integration of sustainability / ESG elements into overall business strategy and operations. In the interest of seeing the market moving towards sustainable development / ESG trends, we are pleased to announce a range of sustainability / ESG integrated consulting services offered to our clients, which include:
- Evaluation and Reporting
- Maturity Assessment & Roadmap
- Strategy Development
- Benchmarking and Target-Setting
- Digitization—ie. Sustainability Data Management System (SDMS)
- Impact Assessment and Sustainability Return on Investment (SROI)
You may contact us in case of any inquiries or feedback on the above.