Esg Pulse Check: Getting The Basics Right For Startups And Venture Capital Firms
March 21, 2023
- 68% of startups surveyed by the World Economic Forum in 2022 integrated ESG into their business strategy since the genesis of their company, even before they had a viable product or office space.
- 32% of startups identified “customers” as the key driver to implementing ESG in their business practices, followed by employees –27%, investors – 23%, regulators – 7% and others – 11%.
- Tracking product-level carbon emissions, offsetting aeroplane carbon emissions or incentivising lower-carbon emitting transport options, monitoring and reducing resource wastages in the office spaces, energy efficiency in the building, parental leave beyond governmental regulation, conducting annual pay equality, wage reviews, sharing diversity and inclusion metrics, ensuring fair treatment and pay for employees, and training on anti-corruption and ethical behaviour are the practical efforts for startups towards ESG.
- 64% of startups said that the sustainability expertise of investors is a factor when they decide on fundraising.
Access article: World Economic Forum