Although most people think of the urgently needed protection of the climate and the environment when they think of "sustainability”, social concerns – such as the protection of human rights along the entire value chain – and governance concerns – such as appropriate corporate management and ensuring legal and legitimate behavior – are equally important aspects of sustainable action.
Lack of capacities and competences
While these are precisely the reasons why many companies are now willing to anchor ESG criteria in their corporate strategy, they often lack the capacities and competences to be able to create an effective ESG strategy. The sheer number of national and international regulations makes it difficult even for people with legal training to keep track of everything. This is especially true for companies in the finance and insurance sectors. As investors with considerable investment volumes, they not only have to respect their own ESG strategies but also those of their investments. This is because capital investments are also subject to strict regulations due to the EU taxonomy on sustainable investment. This also includes the question of how the sustainability of one's own actions is reported. Because from January 1, 2024, all EU-based companies with more than 250 employees must provide reports for the fiscal year 2023.
Companies must start “doing”
The path is challenging. Together with our partners, we have been accompanying companies, especially from the insurance and financial sectors, every step of the way with our reliable end-to-end support for many years.
"At msg, ecology goes hand to hand with social responsibility"
"Only One Earth" was the motto of the 50th world environment day on June 5, 2022. In the viewpoint interview Christiane Rimat, head of the CSR executive department, explains how the msg group is streghtening sustainability within the company..
