Date: 27 February 2024
Author: Nick Hunt
It was a pleasure to join FEO members on 7 February for a workshop that explored how to put purpose & sustainability at the heart of your business growth strategy.
We covered a lot of ground in 90 minutes and I always enjoy how these sessions help to provide a far broader perspective on the relevance of ESG considerations to any business in any sector at any stage of the growth cycle.
At Elephants Child, our pragmatic approach to developing an ESG strategy focuses on effective risk management as the primary driver, rather than purely altruistic reasons. Indeed, an effective and authentic ESG strategy for your business can be a brilliant way to ‘tell your story’ in a more engaging manner, whether that’s for your clients, your teams or the community in which you operate. Together this can be a significant driver of sustainable and resilient long term growth in your business.
Key benefits of developing an ESG strategy include increased productivity, cost savings, wider access to funding, attracting and retaining talent within your business and, ultimately, a greater chance of an enhanced business value when you come to exit.
One of the best things you can do when starting to develop an ESG strategy is to undertake a comprehensive ESG audit exercise – baselining your current position, identifying the great things you and your business are already doing and building a clearer picture of where to focus next – accepting that it’s not about being perfect across every area, but committing to a journey of continuous improvement over time in areas that make sense for your business and, importantly, sharing that journey with your key stakeholders.
We also covered the transformative power of purpose in your business – are you clear on Why you do what you do? Do you start with the Why when communicating your products or services to clients? And are you clear on how your own purpose links to your business purpose? It’s a valuable and rewarding exercise to spend time working on your ‘Ikigai’.
Thanks to all who attended for their active participation and great questions. To find out more about how Elephants Child can help with your ESG journey or indeed your wider business growth planning please do get in touch:
Nick Hunt
Chief Strategy & Impact Officer
m 07817 586 887
e n.hunt@elephants-child.co.uk
w www.elephants-child.co.uk
https://www.linkedin.com/in/nick-hunt-a4006789