ESG in 2024: What is the current state of ESG reporting in companies?
When the Finance Ministers (G7) announced on 7 June 2021 that ESG reporting would become mandatory, ...
The importance of ESG*
in the value chain
*Environmental, Social & Governance
ESG is playing an increasingly significant role in establishing and maintaining business relationships. When considering two potential suppliers with the same solvency, the one with a better ESG score is more likely to close the deal. Although mandatory reporting for SMEs is not there yet, they too are already in the sustainable pool.
Curious about the ESG insights that Trends Business Information offers?
Via various ESG indicators, you can see to what extent a company engages in ESG.
Detailed ESG insights from official and exclusive sources give you a picture of sustainability efforts:
- Ratios based on social balance
- Vehicle fleet electrification
- Installation of solar panels
- Sustainability labels
- etc.
3 ratios from Roularta Media Group to illustrate:
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Number of hours worked per full-time equivalent employee
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Number of hours worked per full-time equivalent employee:
This indicator gives an average of the number of hours worked per year per full-time equivalent employee in the company.
Although there may be considerable sectoral and individual differences, an average of 1 650 hours worked per year per person can be taken as the maximum benchmark.
The number of hours, combined with changes over time, gives a good indication of the pressure that can be put on workers in the company.
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Share of trained workers in the average workforce during the year:
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Share of trained workers in the average workforce during the year:
Continuous employee training ensures that the company’s workforce is as employable as possible.
It is therefore important that as many people as possible can benefit from it. A ratio of 25% is considered a minimum.
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Exit rate in full-time equivalents
compared with the average number of full-time equivalents over the year
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Exit rate in full-time equivalents compared with the average number of full-time equivalents over the year:
The exit rate is the proportion of employees, in full-time equivalents, who left the company during the year, relative to the average number of full-time equivalents.
All types of departure are included: layoffs, voluntary departures, retirements, etc.
A percentage of more than 10% is considered problematic. A percentage of more than 25% may jeopardise the continuity of the company.
Partial or full replacement of employees who have left entails additional recruitment, training and integration costs. It can also increase the pressure on the remaining employees, who have to ensure continuity until the new workers reach the required productivity.
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Since the beginning of 2024, larger companies have to be transparent about the impact their activities have on the environment and society.
- Environment
To what extent does the company play a role in addressing challenges concerning waste, pollution, greenhouse gases, deforestation, and climate change?
- Society
How does a company treat its people in terms of diversity, equal opportunities, remuneration, training, working conditions, etc.?
- Good governance
Is the company governed effectively in terms of e.g. stakeholder remuneration, structure, fraud prevention, etc.
Companies naturally highlight their positive initiatives through their own communications. Just as with the financial assessment of potential business partners, we also advise you here to check the sometimes biased information against objective data from other reliable sources.
For whom?
There is an evolution from the fear of greenwashing to the accusation of greenhushing. Where companies no longer dare to communicate about their ESG effort as a precaution to avoid negative backlash.
However, it is important as a company to communicate about these efforts in a motivating and inspiring way and to be transparent about them. After all, this communication contributes to the importance of ESG in the value chain.
Transparent ESG reporting is now a new reality for all companies. Roularta Media Group, of which Trends Business Information is a part, includes its commitment to various Sustainable Development Goals (SDGs) and the results of its sustainability efforts in its annual report.
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Further information and documentation on ESG:
European Green Deal
European Commission (europa.eu)
Corporate sustainability reporting
European Commission (europa.eu)
Sustainable development
Belgium (belgium.be)