Uplift Lifts & Bits - December 2022
Advice and Quick Takes on Social Impact, Sustainability and ESG
In This Issue:
Meeting ESG Head on in 2023: 10 Things to Consider with Flat Budgets and Growing Expectations
Don't Leave Your Workers in the Cold: Climate Risks & Planning for Equitable Adaptation
Zero Tolerance for Greenwashing Net Zero
New EU Carbon Tax on Imports
Human Rights Abuse in Supply Chain
How Can You Prioritize Your Giving?
Uplift x Optimy Webinar: 6 Social Impact Trends to Watch in 2023
Lifts & Bits
In this edition, we delve deeper into some of the growing trends in the environmental, social and governance (ESG) space for the upcoming year and how you and your leadership team can prepare.
Investors, employees, consumers, and regulators are all looking to companies to make meaningful strides on ESG issues in 2023. And the new “money magnet” for companies looking to raise capital going into the new year is ESG.
While engaging in ESG practices and action is the right thing to do as a responsible business, there is also an important link between ESG and profitability.
As recent reports have shown, companies investing in ESG have seen higher revenues, stronger growth of profits, and greater access to finance. The link between ESG and profitability is clear and we’re only really at the beginning of this transformation.
Aligning your business to forthcoming ESG standards, creating and implementing a successful strategy to meet these standards, understanding changing regulations and policies, navigating these issues in your operations, products and supply chain, and determining how to implement and communicate your actions is not an easy feat.
But by addressing these head on, you will satisfy the increasing demands and advance people, our planet and profits at the same time.
I want to wish all of the members of the Uplift community a happy and healthy New Year and hope you have a productive, sustainable, and just 2023!
Corinne Graper, CEO Uplift
Meeting ESG Head on in 2023: Key Trends to Consider
The ESG space has changed substantially in 2022, and 2023 is expected to usher in additional areas companies will need to pay attention to. ⬇️
Companies that are early adopters of ESG initiatives can do so knowing it’s not only possible to do the right thing for your community and the world, but it can be done while being profitable and reducing business risks.
During a time when many corporate budgets are flat and ESG and sustainability expectations are increasing, what actions should you prioritize?
And what ESG trends should your company be on the lookout for in 2023?
Read the article: Here
Don't Leave Your Workers in the Cold: Climate Risks & Planning for Equitable Adaptation
7 Ways to Make a Just Transition for Climate Adaptation ⤵️
Incorporating strategies to mitigate climate risks and creating resilient supply chains should be brought to the core of business strategy.
By integrating justice into your climate strategy and aligning with the UN Global Compact's recommendations, companies will help lead the way towards a more sustainable business environment.
Here are 7 recommendations from the UN Global Compact on how your business can make a just transition for climate adaptation: ⤵️
Read the article: Here
Zero Tolerance for Greenwashing Net Zero
Will there be zero tolerance 🚫 for greenwashing 🍃 net-zero initiatives?
Why are companies making strong commitments but not delivering on them? In many cases, these companies have made commitments for the optics but skipped the most important step: setting a detailed, feasible strategy and dedicating a budget to achieve that strategy.
In early November, to help companies set net-zero commitments based on concrete strategies, the UN brought together a group of high-level experts who came up with ten recommendations for credible net-zero pledges.
The report provides a roadmap for private sector entities to transition to carbon-free operations under four key areas:
✅ Environmental Integrity
✅ Credibility
✅ Accountability
✅ Role of Governments
Of the recommendations that came out of this process, here’s what you need to know ⤵️
Read the article: Here
EU Carbon Border Tax on Imports
Will your company be impacted by the new EU Carbon Tax 💰on Imports? Find out ⬇️
The EU Council wants to equalize the price paid for carbon by European vs. non-European producers by implementing a carbon tax on imported goods, referred to as the EU Carbon Border Adjustment Mechanism (CBAM).
This action aims to reduce the risk to the EU’s climate goals due to emissions linked to imports from countries lacking robust climate policies by pushing those countries to decarbonize their manufacturing industries.
Learn more about the new tax and what your company can do now: Here
Human Rights Abuse in Your Supply Chain
Do you think human rights abuse exists in your supply chain? 👀
Globally, there are more people in forced marriage, labor, and migration than there are people in the state of California, according to the Global Estimates of Modern Slavery report by the ILO.
❌10 million more people were in modern slavery in 2021 compared to 2016 global estimates.
Forced labor and human trafficking are a part of most corporate supply chains.
This means business has a critical role to play in reducing it. How?
3 questions to prompt your thinking ⤵️
✅ Does your company know who all of its tier 1 suppliers are and is it implementing a human rights due diligence process to identify where human rights abuses could be happening in its supply chain?
✅ When the worst abuses come to light, are you quick to address this with your supplier? Are you willing to play a role in finding a solution?
✅ Does your company have a strategy to address human rights issues?
Forced labor and human trafficking are prevalent in corporate supply chains and businesses have a critical role to play to uncover and reduce human rights abuses.
How Can You Prioritize Your Giving?
When planning your year-round giving and #employeevolunteerism strategy, try to prioritize days that fall before or after significant holidays, heritage days or other historically significant days of the year.
How do you do this?
Here’s 1️⃣ way: “Create a ‘giving’ calendar that centers your corporate volunteerism engagements around your nonprofit partners' greatest times of need. Try to identify three to four opportunities throughout the year if possible,” said Uplift’s Jerome Tennille, MSL, CVA.
Check out this article for more considerations around how to plan your year-round giving and volunteerism ➡️ Here
Uplifting News:
Uplift x Optimy Webinar: 6 Social Impact Trends to Watch in 2023
🔊How can you amplify your social impact even more in 2️⃣0️⃣2️⃣3️⃣?
Join Optimy and our Director of Social Impact & ESG, Jerome Tennille, MSL, CVA, for this 45-minute webinar on the top 6 social impact trends you need to consider for your 2023 strategy.
From applying equity in grant-making practices to developing a bullet-proof data-collection and reporting strategy, this webinar will cover key topics you will need as you plan your activities for the year ahead.
Reserve your seat today to secure the knowledge you need to plan, build and successfully roll out your social impact initiatives: Here
