Building a Better Future for Waste Management: The Adoption of New ESG Standards
In a world increasingly attuned to the impact of business on society and the environment, ESG has become a focal point. Environmental, Social and Governance represents a framework that evaluates a company’s commitment to sustainable and responsible practices.
According to KPMG’s 2023 Global CEO Outlook, 68% indicate that their current ESG progress is not strong enough to withstand potential scrutiny from stakeholders or shareholders. With this, 24% believe that, over the next three years, ESG will have the greatest impact on their customer relationships, and a further 16% believe it will help build their brand reputation.
Looking at the Road Ahead
In August, the UK government announced the creation of new sustainability reporting rules that will highly correlate with the standards developed by the International Sustainability Standards Board (ISSB)
The UK Sustainability Disclosure Standards (SDS) will ‘form the basis of any future requirements’ related to corporate disclosure of sustainability issues, including climate change, according to a government statement.
The government’s aim is to create the UK SDS by July 2024. After this, the Financial Conduct Authority, the UK’s financial regulator, will be able to set rules for listed companies based on the new standards.
The adoption of the new sustainability standards will build on the existing requirement for large UK companies to report in line with the TCFD recommendations.
How Can Waste Management Support an ESG Strategy?
With the announcement of new ESG standards, here are some of the actions that businesses can take with their waste management.
|Understand ESG standards
|Appoint an individual to be responsible for the waste management
|Train your wider team for improved waste segregation
|More effort wins
|Engage with your waste collector for advice
|Conduct regular sustainability assessments
|Explore green grants
|Invest in efficient software tool to help monitor waste data (we can help!)
How Zest Recycle Can Help
Whatever your goals are, we help our clients to join the “DOTS”. Our unique step-by-step process ensures we get to the core of our clients’ existing challenges, so we are best suited to advise and deliver a fully tailored solution.
Discovery – We look to understand your goals and challenges by carrying out a desk top analysis of your current situation, getting to the core of your business.
Opportunity – We then audit your estate by reviewing waste streams, processes and procedures to identify opportunities to improve efficiency.
Transform – From the results of our audit, we can build a bespoke, best practice solution delivering on your sustainable goals.
Sustainable – We manage the implementation of the new programme, helping to train staff and providing educational materials.
Our “DOTS” process is supported by our intelligent sustainability platform, helping clients in three areas: Engage, Governance and Analyse.
We aid clients by alleviating some of the challenges of ESG data gathering, performance tracking and reporting for ESG factors so organisations can move towards global sustainability and Net Zero.
With our ESG reporting software, pre-configured utility and resource reports can be built to help users easily visualise performance year over year, compare KPI to absolute and intensity targets, and forecast into the future.
Talk to the Zest Recycle Team
As experts in recycling and waste management, you can trust our team to effectively manage your waste streams and support with ESG reporting so you stay compliant.
StartFresh and talk to us today about your ESG requirements.
If you need our support or advice on any recycling and waste management initiatives, we’re just a phone call away. Contact us here.
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