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What does the ESG service include?
| Analysis and mapping | Sustainability strategy | Implementation | Sustainability report | Sustainable investments |
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The first stage of ESG service is to map the company’s current situation from an ESG perspective
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Based on the result of the analysis, an ESG strategy tailored for the company is developed.
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Putting the ESG strategy to work through practical activities to achieve the set goals.
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ESG reporting allows companies to document and disclose their progress toward achieving ESG goals
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Sustainable investment services help companies and investors consider environmental, social and governance standards (ESG) principles in their investment decisions.
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1.
Analysis and mapping
Objective
The first stage of ESG services is to map the company’s current situation from the ESG perspective.
Actions
- Assessing the current ESG level. Data is collected regarding the company’s activities, processes and impact on the environment, social aspects and governance culture.
- Gap analysis. Analysis of how the company’s ESG practices meet international standards, regulations and investors’ expectations.
- Double materiality assessment. The focus is on how the company’s activities impact the environment and society and the impact of these factors on the company’s financial condition. We help companies identify and prioritise ESG topics as regards their importance for the business’s sustainability and stakeholder expectations.
- Assessing risks and opportunities. The main ESG risks and opportunities that may impact a company’s value and activities are introduced.
- Gauging carbon footprint. Measurement of company’s carbon dioxide emissions, reporting and drawing up reduction plans.
- Assessment of the sustainability of suppliers. Assessing suppliers’ compliance with ESG standards and preparing improvement plans.
2.
Sustainability strategy
Objective
Relying on the results of the analysis, an ESG strategy customised to the company is developed.
Activities
- Setting priorities. The most important ESG objectives are defined (e.g. reducing carbon footprint, improving occupational safety, ensuring transparent management).
- Setting strategic goals. Clear, measurable ESG goals (KPI) are set, aligned with the company’s business strategy.
- Preparing activity plans. Defining activities and initiatives to be implemented to achieve ESG goals (e.g. adoption of green energy, inclusive work practices, responsible supply chain).
3.
Objective
Implementing ESG strategy in practical activities to achieve the set goals.
Activities
- Implementing policies and processes. The necessary policies and processes are established to support fulfilment of ESG goals (e.g. changes to waste handling procedures, offering incentives to employees for environmentally friendlier transport).
- Training employees and managers. Ensuring that the company’s employees and managers understand the importance of ESG and are prepared to apply the corresponding measures.
- Monitoring and customising activity. Implementing oversight systems to monitor ESG strategy implementation and, if necessary, making changes in activity plans.
- Analysis and responsibility for supply chain.
- Outsourcing the ESG manager function. We can perform ESG management duties temporarily or part-time, offering the flexibility you need to achieve cost-effectiveness.
4.
Sustainability report
Objective
ESG reporting (either mandatory or voluntary) allows your company to document and disclose its progress toward achieving ESG goals.
Activities
- Data collection and analysis. Criteria and indicators related to ESG activities are collected (e.g. carbon emissions, social investment volume, management practices).
- Creating connections between financial and sustainability reporting. The sustainability report must be as thorough as financial reporting. To get a complete picture of the company's value, it is important to understand and describe the connection between these two areas. We help you bring out these connections so that they are beneficial for both the structure of the company's reporting and for making management decisions.
- Compliance with standards. Our advice ensures that ESG reporting meets international reporting standards (e.g. GRI, SASB, TCFD).
- Report publication. We provide consultation for preparation of the ESG report, which includes the company’s ESG results and developments for both internal and external stakeholders (e.g. investors, clients, the public).
- Pre-audit consultation. Grant Thornton Baltic has an audit group staffed by experts for reviewing sustainability reports. We review the key indicators, data collection process and documentation to make sure that the data set is sufficient for the audit.
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