Understanding the advent of ESG vs CSR

The forum discussed the critical differences between Environmental, Social, and Governance (ESG) and Corporate Social Responsibility (CSR), and how universities like BA ISAGO can utilize these frameworks to foster sustainable growth and meet the demands of investors and consumers for responsible business practices. Amagolo Gabasiane, the Business Development Director of BA ISAGO University, highlighted the importance of understanding these differences in the current era of global change. She emphasized that sustainability and social responsibility should not be optional for businesses. Lindiwe Modise, the managing director of Green Loop ESG Consultants, presented a comprehensive overview of ESG and its evolution from traditional CSR. She explained that ESG is a measurable matrix system that helps organizations track their environmental, social, and governance goals, which should be linked to the company strategy with key performance indicators (KPIs). Modise stressed the importance of partnerships and collaborations in achieving sustainability and offered services like Environmental Impact Assessments (EIA), Green Building assessments, and Environmental Management System audits to improve corporate environmental practices. Modise also pointed out the challenges of measuring the success of CSR initiatives, as they are not always quantifiable. She emphasized that CSR initiatives should empower communities to become self-sufficient in the long term, rather than engaging in short-term, unsustainable activities, which she referred to as greenwashing. In conclusion, the forum highlighted the need for businesses, particularly universities, to understand and implement ESG frameworks to remain competitive, sustainable, and aligned with international standards. By doing so, they can enhance their corporate reputation, meet the demands of investors and consumers for responsible business practices, and contribute to a more sustainable future.

Source: mmegi.bw
Published on 2024-09-25

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