Environmental, Social and Governance
ESG – Why all the hubbub? If you work in the energy sector, odds are you’re already familiar with the acronym – ESG stands for Environmental, Social and Governance – and the fuss is because these factors comprise the criteria investors consider when evaluating a company’s sustainability and ethical impact.
Environmental – Is the company a good steward of the environment through its energy use, emissions, pollution, waste generation, natural resource conservation and treatment of animal?
Social – How does the company treat its employees, suppliers, customers and the community.
Governance – Does the company conduct its business ethically? This encompasses the company’s leadership, pay practices, audits, internal controls and shareholder rights.
A company’s ESG profile has become increasingly important because investors are weighing the criteria more heavily when making decisions about where to place their capital. Nowhere is that more true than in the energy sector.
For today’s energy companies, practicing sound ESG principles is not only the ethical thing to do, but it is also the most practical and fiscally astute thing to do as well. In fact, energy companies have an opportunity to make a sizable impact in the ESG arena. And many are doing just that!
Just because energy is gritty, doesn’t mean it can’t be green.
The energy sector often gets a bad rap for being a “dirty” business – we prefer to think of it as gritty. Gritty as in courageous, tenacious and bold!
At Paige PR, we believe that the ingenuity and tenacity it takes to extract oil from the earth, forge a high-pressure drill pipe, or engineer a powerful industrial pump also equips a company to pivot and embrace new ways of doing things.
For example, many companies are now embracing artificial intelligence and software platforms to reduce emissions in the transfer of natural gas. Or to optimize production across 50,000 wells simultaneously.
Similarly, more companies are ‘walking the walk’ and establishing programs to diversify its workforce or help women in developing nations obtain degrees so that they can improve their way of life in their home country.
Such incredible innovation should be shared – not just with the community, but to all stakeholders. Because everyone is demanding more of corporations and their support of the communities in which they work.
This is where we come in.
Whether your company is leading the way in ESG or lagging a bit, Paige PR can help. You may have numerous ESG initiatives in place, but need help demonstrating your efforts to the industry and investors. Or you may still be establishing your ESG practices, and need a hand aligning your team and educating your stakeholders.
Paige PR specializes in strategic communication for the energy sector – because we know energy, we also understand the importance of ESG initiatives for today’s businesses. We’re here to help energy companies tout their achievements and get the credit they deserve for their efforts and innovation.
Want to know how serious corporations and investors are about ESG? Look no further than these accredited publications and their research: