What is an ESG Strategy?
An ESG (Environmental, Social, and Governance) Strategy outlines an organization's commitment to sustainability and responsibility in these three areas. It helps organizations integrate ESG considerations into their business operations and decision-making processes, and communicates this commitment to stakeholders.
What's included in this ESG Strategy Template?
- 3x Focus Areas
- 9x Objectives
- 9x Projects
- 18x KPIs
Who is this ESG Strategy Template for?
This ESG Strategy Template is suitable for leaders and teams from organizations of all sizes and sectors. It provides a structure and guidance for developing an ESG strategy that is tailored to the specific needs and goals of the organization.
How is this ESG Strategy Template relevant to your organization?
An ESG strategy is relevant for all organizations that want to make a positive impact on the environment, society, and the economy. It can help organizations manage risks and opportunities related to ESG issues, and demonstrate their commitment to sustainability and responsibility to stakeholders. By following this ESG Strategy Template, organizations can create a comprehensive and actionable plan to drive positive change in their operations and communities.
1. Define clear examples of your focus areas
A focus area is a particular viewpoint that groups certain requirements set out by an organization. A recommendation from the Cascade team would be to create 4-5 key focus area which you feel are most important to address when creating your ESG Strategy. The next step would be to ask yourself: Why is this focus area important to me? What is the benefit of focusing on this viewpoint from a customer's perspective? And, of course, What is the monetary benefit of investing in such a focus area? This process is useful in identifying the key area which needs prioritization which in turn can become focus areas of the strategy.
For example, the focus areas in this ESG Strategy Template are: Environmental sustainability; Social responsibility; and Governance.
2. Think about the objectives that could fall under that focus area
A strategic objective usually has to be specific and measurable to cause enough impact and effectively explain what you want to achieve.
An example objective that could fall under the focus area of Environmental sustainability could be: Reduce carbon emissions.
3. Set yourself measurable targets (KPIs) to tackle the objective
A KPI is a key performance indicator that is measurable and evaluates the success rate of an organization in relation to the task at hand. KPIs can be very industry-specific or broad and applicable across multiple industries.
An example of a KPI in this ESG Strategy Template associated to the objective Reduce carbon emissions could be: Reduce energy consumption by 10% per unit produced (kJ/unit).
4. Implement related projects to achieve the set KPIs
Projects are ways in which the objective can be achieved, but more so, closely tie in with ways in which organizations can make sure they are working towards their KPIs.
A project example for the objective Reduce carbon emissions could be: Implement energy-efficient practices in manufacturing and logistics.
5. Utilize Cascade Strategy Execution Platform to see faster results from your strategy
Make sure your strategy is front and center with Cascade. You can plan, execute, measure and adapt your strategy in one easy-to-use platform and make sure your strategic plan is connected to on-the-ground execution.
Use this ESG Strategy Template and launch your strategy in Cascade; it's $0 forever.