Part 3) ESG Frameworks
ESG transformation needs some kind of framework to able to measure progress. In this we will zoom into the possible frameworks that can be used to measure ESG maturity and performance.
The Sustainable Development Goals (SDGs) are a universal call to action, adopted by all United Nations Member States in 2015. They consist of 17 interconnected goals designed to address global challenges such as poverty, inequality, climate change, environmental degradation, peace, and justice.
The ESG framework in general has 3 main parts and each part zooms in on many subparts. Below you will find the main topics that are discussed in each main part.
The European Sustainability Reporting Standards (ESRS) framework is a pivotal compliance tool designed to enhance transparency in sustainability reporting. Introduced as part of the European Union’s broader agenda to foster sustainable finance.
In chapter 3.3 ESRS, the CSRD compliance framework, shows to what extend ESG reporting can help to get an understanding of the importance of sustainable development in business. ESG transformation however goes beyond compliance and reporting.
The Framework for ESG Strategy & Transformation (FEST) which can be used for business transformation has four levels of measurement of itself. But in practice there are a lot of specialists in the market that focus on a particular level of a particular part of the ESG framework.
