that ESG enabled companies to create value in five discrete ways: improving top-line growth, reducing costs, avoiding regulatory pushback, boosting productivity and optimizing investments and assets.
Perhaps most importantly of all, in a report released last month by the University of Oxford’s Smith School of Enterprise and the Environment, researchers found that increases in firms’ ESG performance in a given country were associated with improved living standards in that countryIn an illustration of their findings, the authors showed that if Indonesian firms raised their environmental performance to the equivalent of firms in France, the country would see an increase of 15% in GDP per capita, from just under US$4,300 per person to over US$4,900. The researchers found that in almost all instances, improved ESG performance raised national living standards.
Ben Caldecott, director of the Oxford Sustainable Finance Programme at the University of Oxford and one of the authors of the Smith School report, voiced his concern about Ivalua’s findings to Forbes.com. “Cutting back on efforts to improve corporate ESG performance is the exactly the opposite of what firms should be doing,” Caldecott said. “There is strong and growing evidence that better ESG performance makes for more profitable and less risky companies. This stands to reason, as many of the drivers of better ESG performance reduce costs, manage regulatory or reputational risks, and improve worker productivity.
Let them survive first, then when things settle down make the case, but survival mode!
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