ESG: Responsible Business

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ESG: Connect with ui42 and build a sustainable future

ESG, an acronym for Environmental, Social and Governance, is not just a trend or a scare for companies, but a necessity and an opportunity for responsible and prosperous businesses.

By implementing ESG principles into your business, you can improve your reputation, reduce risks, increase profitability, and contribute to building a better and more sustainable future.

Moreover, the manufacturing application, or another component of the ESG process, can actually increase the profitability of the company.

Environmental aspects

Energy efficiency: Reduction of energy consumption and greenhouse gas emissions.

Waste management: Minimization of waste and its responsible recycling.

Environmental protection: Compliance with environmental regulations and pollution prevention.

Sustainable resources: Utilization of renewable energy sources and raw materials.

Social aspects

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Work Safety: Ensuring a safe and healthy working environment for employees.

Working Conditions: Fair wages, benefits and working hours.

Diversity and Inclusion: Creating an inclusive work environment for all employees regardless of race, gender, religion or other factors.

Human Rights Compliance: Adherence to international human rights standards throughout the supply chain.

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Control aspects

Transparency: Open and transparent functioning of the company.

Good governance: Efficient and responsible corporate management.

Fighting corruption: Adherence to ethical principles and prevention of corrupt practices.

Responsibility to shareholders: Considering the interests of shareholders and other stakeholders.

Which companies will the directive apply to?

from 1.1.2024 for large companies with more than 500 employees,
from 1.1.2025 for large companies that meet 2 out of the following 3 criteria: more than 250 employees and/or turnover of 40mil € and/or total assets of 20mil €,
from 1.1.2026 for small and medium-sized enterprises and other companies that have placed their shares on a regulated market

Advantages of Integrating the ESG Directive

Improvement of reputation

A responsible approach to business will strengthen the reputation of your company and increase the trust of customers, investors, and the public.

Access to new markets

Growing demand for sustainable products and services opens up new market opportunities for ESG companies.

Risk Reduction

Implementation of ESG principles can help reduce environmental and social risks, thereby reducing the overall business risk.

Motivated employees

Employees, who work for a responsible company, are usually more motivated and productive.

Increase in profitability

Effective management of environmental and social aspects can lead to cost reduction and increased profitability.

CSR are voluntary activities for the good of the company and community, while ESG is a comprehensive framework for measuring and managing a company's long-term sustainable impact. Although CSR and ESG share common goals in the area of responsible business, there are important differences between them.