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How is ESG transforming businesses today?

ESG is a hot topic of discussion with 40% of companies frequently discussing their environmental & social impact with their workforce.

This week we looked at how important is ESG when it comes to organizational priorities and the day-to-day operations of businesses across various industries.

Overall, we see that the importance of ESG is well understood by the company and its employees and to do so the companies are reassessing and changing their priorities and processes.

The actions of these organizations are appreciated by the workforce. There is a general sense of satisfaction with their organization’s ESG efforts with over a third of employees (35%) being very satisfied with their company’s efforts and just under a third (30%) report their company should invest in very high resources to achieve its ESG goals.

Do companies from all industries follow the same pattern or do we see differences among different companies?’ As it turns out Yes, the approaches differ from industry to industry.

Importance of ESG amongst Tech companies

While we see a lower than average level of satisfaction for the Technology companies’ ESG (28%) efforts, they are still likely to discuss ESG all the time (40%). Moreover, Technology companies are less likely to shift their day-to-day operations (46%) and are on par to shift their overall organizational priorities (47%) when compared to other industry companies.

Importance of ESG amongst Healthcare and Pharma companies

When we see the healthcare and Pharma companies one thing we notice is how these companies outperform companies from other industries. Not only do they report the highest level of satisfaction (46%) compared to others but are also 1.4x times to discuss ESG at all times (59%). Moreover, 68% of Healthcare and Pharma are shifting their day-to-day operations and nearly half of the companies (48%) are shifting their organizational priorities due to ESG.

Importance of ESG amongst FSI and Investment companies

The importance of ESG is perceived well among the FSI & Investment companies as well. They are 1.2x to report higher satisfaction (46%) than the average and are 42% likely to discuss ESG all the time. In addition, half of the companies report that ESG has led to shifting their day-to-day operations (50%) and overall organizational priorities (49%) as well.

Importance of ESG amongst Retail and Consumer companies

Only 21% of the Retail and Consumer companies show a high level of satisfaction with their ESG efforts while 17% report that ESG is discussed all the time. While they are least likely to report that ESG is shifting their overall organizational priorities (44%), surprisingly over half of the companies (56%), are shifting their day-to-day operations to focus on ESG.

Stay tuned as we dip deeper and bring new perspective on ESG and its importance!

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