What does ESG mean?
We have recently refreshed and reinvigorated our Creed Foodservice ESG Report, reflecting on all the tangible progress we have made towards our core company targets, to ensure we are working towards becoming a more transparent and sustainable business.
You may have noticed, however, progressing on from the previous variations of Corporate Social Responsibility, the introduction of new terminology concerning reference to ESG: Environmental, Social and Governance.
Whilst ‘sustainability’ has long served as a buzzword for content similar to that structured within this report, we believe ESG offers a more thorough and definitive understanding of the impacts our operations and actions may have on our surrounding environments, accounting for our people, products and our planet.
In this blog post we’ll explore the meaning of ESG and why it is gaining traction within businesses nationwide. So to begin…
So, what really is ESG?
An ESG report aims to establish key targets for a company to work towards in order to evaluate it’s contribution to three key factors:
1) Environmental
Encompassing the carbon footprint and emissions data the business produces annually, and the overall consideration for environmentally sustainable processes. For example, our core environmental targets at Creed Foodservice are to achieve Carbon Neutral status by 2030, and Net Zero emissions by 2040!
2) Social
Taking into account the treatment of people by a company, be that within human rights, diversity and inclusion, or even philanthropy and contribution to local communities. Within our report we recall detail about the opportunities and care provided internally for all Creed employees, as well as our consistent keen effort to support our 6 chosen charities.
3) Governance
This third factor refers to the practices and processes by which companies are operated and managed, highlighting corporate clarity and accountability, as well as ethical standards and compliance. By producing a report on these components within a business, we can build trust amongst our customers and other stakeholders, that care and responsibility is transparent from the inside, out.
Now, having gained a deeper understanding into the nuances of this new term, hopefully it is clear to see why we have favoured the transition to a more holistic way of reporting on our company operations at Creed. The term ‘sustainability’ refers specifically to the environmental responsibilities we hold, and we believe there is merit to sharing so much more across our business, beyond just this one factor.
If you’d like to read through our latest report and review all the efforts we are making as a business to contribute positively towards all our people, products and our planet, click the button below!
