ESG continues to redefine the role of companies in society

This story is sponsored

The last few months have tested us in ways we could never have imagined. We have had to take stock of the critical links between nature and the economy and between stakeholder relationships and business sustainability — and our growing responsibility to be part of the solution in challenging times.

Growing a sustainable business that continues to create shared value today and into the future is a commitment that business owners have had to make, by addressing societal challenges while simultaneously creating value for their businesses.

The real estate industry is ever evolving and in a place of uncertainty. Despite the disruption caused by the pandemic, it is the opportunities that companies such as Liberty Two Degrees have identified in these conditions that propel them forward. 

Environmental, Sustainability and Governance (ESG) issues continue to redefine the role of companies in society. The value in addressing ESG concerns that are material to a company as part of its business practice is essential. ESG factors contribute to long-term sustainable financial performance. A careful consideration should therefore be given to ESG business strategy, risk management, compliance and performance to ensure that long-term value for the organisation and all stakeholders is delivered. 

Liberty Two Degrees’ ESG proposition, titled IMPACT, is supported by an effective board oversight, a key imperative in strategically identifying any ESG related issue and monitoring performance against goals set.

“We have developed a purposeful culture to drive our ESG efforts and we have aligned our vision and purpose accordingly. We believe IMPACT reinforces our competitive advantage” says Heloise Mgcina, Head of ESG at Liberty Two Degrees.

Mgcina adds: “We have developed and continue to develop capacity around IMPACT as a priority and a key driver to value creation.”

Sustainable ways in which to integrate ESG into strategic processes include:

  • Policies and risk management systems incorporate ESG components
  • Board oversight to ESG practices, with effective measurement tools and risk indicators
  • Integration into strategic planning
  • Deliberate and purposeful pursuing of initiatives and services that consider an ESG impact
  • Ensure strict ESG requirements are met by suppliers in all operations
  • Leveraging of internal and external ESG practices to ensure alignment and that L2D People live the company’s ESG practices

To succeed with the implementation of ESG elements, businesses should aim to continue driving a leadership role in environmental sustainability matters, and focus must be placed on social sustainability, which includes a contribution to rebuilding communities during these difficult times, while ensuring the contribution is meaningful and sustainable. A commitment to positive transformation and economic development, offering impactful solutions that make a difference in the lives of SMMEs is essential. A commitment to the application of and compliance to the highest ethical standards is imperative in ensuring governance practices build legitimacy through ethical leadership, reputation management and the adoption of an inclusive approach to business.

Click here to view Liberty Two Degrees’ ESG value proposition https://www.liberty2degrees.co.za/impact-overview/ 

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