Sixteen percent of companies indicate having strategies for greenhouse gas reduction in place, and nearly 18% are calculating and reporting both Scope 1 and 2 Emissions data, according to ISN.
“Amid mounting regulatory requirements and pressure from investors, industry peers and consumers, companies are increasingly turning to data to help identify strengths and weaknesses in their current ESG management processes,” says Rick Dorsett, VP of health, safety, environmental, sustainability, insurance and risk management at ISN. “Through our ESG white paper and many other ESG education initiatives, we are proud to play an integral role in providing data-driven insights and best practice sharing across industries. With a 60% increase in hiring client usage of our ESG Assure offering in 2023, it’s clear the demand for greater value chain transparency remains strong, with organizations around the globe working to make their operations as sustainable as possible.”
Key takeaways:
● On average, 45% of companies reported implementing an EMS, with companies in mining, oil and gas extraction, utilities and transportation and warehousing being more likely to have a management system in place.
● 35% of companies indicate policies condemning Forced Labor Practices are in place, with over half (53%) providing general training on labor rights for their workforces. These policies are most likely to be implemented in utilities, manufacturing and wholesale trade industries.
● 40% of companies have a human rights policy in place, with 34% indicating training is provided. Human rights policies are more commonly implemented in the utilities, mining, oil and gas extraction, and transportation and warehousing industries.
● 35% of companies indicate they include social criteria during the prequalification and screening process for subcontractors and suppliers, while 42% have a vendor code of conduct in place.
● Nearly 70% of companies indicate an anti-corruption policy is in place and 50% provide training on anti-corruption.
● 81% indicate they have a Company Code of Conduct in place.
“Working with diverse and small businesses is an effective way to add value to companies and communities, furthering an organization’s commitment to social responsibility,” says Dorsett. “Diversifying a supply chain also increases opportunities for businesses to expand their markets. Many of ISN’s contractors and suppliers reported a diverse owned status, defined as being at least 51% owned, operated and controlled by a minority designation.”
