What is environmental, social and governance (ESG)? 谁是这个谜题的关键参与者，他们是如何结合在一起的，为什么他们很重要?

When building something from the ground up, each piece matters. For the better part of the past quarter-century, the business community has been constructing the framework for ESG, piece by piece.

Some pieces of the framework remain more nascent than others, 但在描述和量化我们的ESG活动的影响方面已经取得了很大进展. 这项工作使社区能够确定最环保的材料, social and governance issues and prioritize them accordingly.

ESG Defined – What Exactly Does it Mean in the Business Community?

ESG is a stakeholder-centric approach to the consideration of environmental, social and governance factors. 这些因素代表了一个实体的商业战略的风险和机会, governance, and control framework. More frequently than ever before, 在财务分析中，许多市场参与者使用对这些因素的检查, investment decisions, and lending processes.

ESG Stakeholders – Key Responsibilities and Impact

So, who are they key participants and stakeholders in the ESG puzzle? How do they fit together and why do they matter? Download the infographic or continue reading below to learn more.

Stakeholders

• 关键的ESG责任:利益相关者是要求公司采取主动ESG行动的实体和人员. 他们是客户、员工、管理层和当地社区，仅举几例.
• Impact: Stakeholders directly influence companies and regulators. 他们传达对他们来说重要的东西，并提出内部和外部的观点. 公司需要与利益相关者进行公开对话，从他们的角度确定最紧迫的问题.

Companies

• 主要ESG责任:公司是一个更可持续发展的世界的变革推动者，考虑其运营的重大影响，并报告指标以评估实现既定目标的进展.
• 影响:与内部和外部利益相关者合作可以有效地确定ESG影响和要求. Companies can then determine which of those impacts are the most material and within which framework to report; this identification of material impacts allows for the creation of strategic goals, targets and metrics. Lastly, 公司可以制定必要的治理和监督框架，以确保ESG项目得到适当控制.

Regulators

• 关键的ESG责任:监管机构推动自愿性和强制性的合规法规，以供商业社区遵守. 征求利益相关者的反馈将确保消费者和投资者在关键的ESG议题上得到保护.
• 影响:监管机构通过规定投资者投资的公司和产品披露他们对ESG风险和机遇的看法来保护投资者, how they’re progressing towards their goals, and how they ensure that proper governance is in place.

Asset and Wealth Managers

• 关键的ESG责任:资产和财富管理公司在决定是否配置资本之前，会考虑公司如何将ESG因素嵌入到业务战略和治理功能中.
• 影响:资产和财富管理公司投资于ESG整合程度不同的公司, including ESG products. 这些产品是消费者表达他们对ESG偏好的主要结果之一.

Lenders

• Key ESG Responsibilities: Through the underwriting process, lenders evaluate how companies are considering and integrating key ESG factors, such as climate change metrics, good governance practices, and loss of biodiversity, into their existing business frameworks.
• Impact: Lenders evaluate companies relative to different ESG standards. 这些评估纳入了融资条款，以确保公司在其框架中捕捉到适当的ESG风险和机会.

Rating Agencies

• 主要的ESG职责:评级机构负责研究和分配几个ESG领域的公司评级.
• 影响:评级机构评估公司和政府的关键ESG风险和机会，为利益相关者提供更加一致和透明的信息, asset and wealth managers, and regulators.

Audit and Assurance

• 主要的ESG责任:审计和鉴证机构是公共会计师事务所，由于他们在ESG方面的专业知识，他们为公司公开披露的报表和指标提供证明.
• 影响:审计和保证机构负责验证组织是否有适当的流程和控制来实施其ESG战略. Furthermore, they ensure the data underpinning the disclosed metrics is properly sourced, vetted, and governed. Lastly, 他们的意见有助于验证公司或产品对ESG的方法和实施.

Governments

• 主要职责:政府机构提供激励措施，以加速向可持续和循环经济的过渡.
• 影响:政府机构决定管辖范围内的战略，并为利益相关者提供激励, asset and wealth managers, and companies to transition to a more circular and sustainable economy.

Industry Bodies

• 主要职责:行业机构开发框架，通过该框架，公司和产品可以向最终消费者报告ESG叙述和数据. They also validate assumptions, calculations, and progress by companies.
• Impact: Industry bodies provide pragmatic guidance to companies, lenders, and assurers on how to implement voluntary and mandatory guidelines.

About the Author

Matt Hartman 是高级环境、社会及管治(ESG)及可持续发展经理 Schneider Downs Risk Advisory Practice.

Matt在企业可持续发展和报告方面拥有超过10年的经验, 开发ESG项目和ESG数据来源和治理，并曾根据气候相关财务披露工作组(TCFD)提出倡议。, the Global Reporting Initiative (GRI), and the Sustainable Finance Disclosure Regulation (SFDR), amongst others.