The ESG and Sustainability department at BESIX Group level has recently reinforced its team. Sylvie Floor, previously in charge of Talents Development & BESIX Academy, has joined Muriel Sacré to jointly oversee and manage BESIX’s ESG strategy and performance. Environmental, social and governance (ESG) is on everyone's lips, but it can feel overwhelming as it covers an immensely broad set of complex issues. Let’s take it step by step!
What is ESG?
ESG (Environmental, Social, and Governance) is an important topic in corporations because it assesses a company's impact on society and the environment, as well as its management and business practices. It translates into criteria considering how responsibly a company acts and does business. In a nutshell, the way we score on ESG criteria tells the world if we are a responsible company, good citizens and led by accountable leaders.
For instance:
- Environmental criteria consider how BESIX safeguards the environment, including corporate policies addressing climate change, circularity, energy use, etc.;
- Social criteria examine how BESIX manages relationships with employees, suppliers, customers, and the communities where we operate;
- Governance deals with BESIX’s leadership, audits, internal controls, and shareholder rights.
Why is this important?
- Investors have, in recent years, shown interest in putting their money where their values are... As a result, investors scrutinise closely the ESG position of companies they want to do business with and focus their interest on companies that follow positive environmental, social, and governance principles. In the opposite way, companies that have exposure to coal, tobacco, weapons and firearms have more difficulties attracting investors. So do companies involved in major controversies over human rights, animal welfare, environmental concerns, governance issues, or product safety.
- In the same way, legislators in many parts of the world are starting or have started implementing regulations that (re)orient capital flows toward a more sustainable economy. For instance, in the European Union there’s a range of ESG- related regulatory measures that affect the manner in which companies operate within the EU.
- Lastly, not only investors and legislators are putting us under pressure, … our own employees and candidates are too! We all are more and more alert to ethical and sustainability practices. With the war for talent to recruit and retain staff, our ESG approach strategy (and subsequent translation into actions) could rapidly become a differentiator to attract and retain talent.
What does it mean for BESIX?
- Adopting ESG principles means that our corporate strategy must take into account the three ESG pillars, i.e. environmental, social, and governance. This means f.i. taking measures to lower pollution, CO2 output, and reduce waste. It also means having a diverse and inclusive workforce. Our Group can seize this opportunity to unlock new business potential while promoting a social return.
- We at BESIX are aware that we need to invest time, efforts, and resources to not only be compliant, but also frontrunning in these critical matters! Sylvie Floor, Muriel Sacré, under the lead of Geert Aelbrecht as Group Sustainability & ESG Officer will be doing just that! Don’t hesitate to contact them.
Together, let’s make a difference, one action at a time.
#BetterTogether