Top 3 metrics for ESG reporting in energy sector

By Julia Zakhari
Julia Zakhari, Global Vice President of Marketing and ESG at Dialight, outlines the key metrics for ESG reporting

This year has already established itself as the one for ESG initiatives as companies everywhere evaluate how to incorporate sustainability into their business models. What many fail to realise is the transparency and accountability needed to do it correctly.

With heightened intensity around Net Zero, many business leaders are focused on reducing carbon emissions and other environmental impacts, but to really implement ESG properly is to look beyond simple measures of “greenness”, by including critical Social and Governance components, such as ethical labour relations, health and safety policies and overall corporate social responsibility.

As companies continue to adopt more sustainable standards, it is imperative they include these parameters in order to comprehensively demonstrate the impact of their organisation. 

Ethical Labour Relations 

The first step is evaluating internal structures with a view towards diversity, equity and inclusion at all levels of the organisation and then identifying steps in pursuit of a more balanced workforce across age, gender, and ethnicity. It has been proven that having a broad range of perspectives helps organisations innovate more frequently and solve complex issues as they arise. Next is to consider training and enrichment programs as tools to help inspire and empower your staff.

Health and Safety Policies

Historically, health and safety policies focused on preventing physical workplace injuries, but now more companies are being tasked with assessing the mental health of their employees and being held accountable for the level of support/resources they provide. For C-suite and HR leaders who want to invest in their company’s resiliency, they must first invest in their company’s health, by regularly assessing their employees’ work life balance and providing actionable steps for those in need of additional resources. 

Corporate Social Responsibility

Stakeholders and regulators are demanding proof from companies and their boards that ethical governance practices are in place. A company that is putting ESG at the forefront will dedicate board and executive resources in the form of committees to review these initiatives on an ongoing basis, develop policies and publicly disclose progress in external reporting.

Having leadership that is committed to developing and monitoring progress regarding ESG strategies ensures a company isn't just providing lip-service but is actively working to improve business conduct on all levels.

ESG is the foundation of a company’s long-term value and resiliency. Without a comprehensive approach to ESG reporting, one cannot have a full picture of potential business risks and opportunities for growth.

Julia Zakhari is Global Vice President of Marketing and ESG at Dialight, which specialises in LED industrial lighting technology


Featured Articles

5 minutes with Stuart Broadley, Energy Industries Council

EIC CEO Stuart Broadley reveals the challenges that lie ahead for oil and gas firms now net zero is becoming an increasingly important goal for businesses

SAP: Is 'complex' wind energy supply chain slowing adoption?

SAP digital supply chain and manufacturing expert Darcy MacClaren warns complex logistics and complicated regulations are limiting wind energy adoption

Decentralised energy key to circumventing grid delays

Aggreko is advising the sector to consider short to mid-term decentralised energy solutions as an effective means of maintaining business continuity.

Renewable energy to become top source of electricity by 2025

Renewable Energy

Nuclear energy — the unsung hero of the climate challenge

Renewable Energy

UK and US announce energy partnership

Oil & Gas