Approaching ESG in the Automotive Sector
Environmental, Social, and (Corporate) Governance, also known as ESG, are the three pillars that define standards and practices, that together, indicate an organization’s dedication to operating sustainably. ESG reporting can be a powerful tool for companies to set goals and metrics, measure performance, and manage change in order to make their operations more sustainable and align with the values of their stakeholders. Through sustainability reporting, organizations can understand and communicate the risks and opportunities they face from their corporate activities.
Automotive industry Original Equipment Manufacturers (OEMs) have issued guidance that suppliers must undergo a self-assessment questionnaire pertaining to the corporate social responsibility of their organization. What does this mean for automotive suppliers? What are the next steps? In this article, we will take a deeper dive on the benefits and return on investment for ESG and how the adoption is impacting strategy in the boardroom.
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