环境, 社会, and governance (环境、社会和治理) policies and practices are a continuously growing aspect of business in today’s world, with impact across industries. The retail sector is on the forefront of the 环境、社会和治理 movement—as consumers, stakeholders and regulators look for retail companies that are making efforts to improve 环境、社会和治理 practices.
环境、社会和治理 policies address environmental and 社会 injustice issues that might arise due to the actions of a company, including effects on climate change; and where human rights might be in jeopardy due to manufacturing processes. Robust 环境、社会和治理 initiatives have been linked to access to funding at lower rates, with higher volumes of investments in companies which have solidified 环境、社会和治理 principles.
Another driver of 环境、社会和治理 in retail and other sectors is the risk implications that come with 环境、社会和治理-related regulations and reporting. A goal of more transparency is created by 环境、社会和治理, as people are questioning methods used by large retail corporations more than ever. While the reasoning behind this questioning might be caused by changing attitudes or realizations, the fact is that regulation of the industry is increasing. Regulatory scrutiny has increased among regulators including the EU Emissions Trading System. The cost of future noncompliance with 环境、社会和治理 regulation will likely be higher than proactive action now.
The standards set forth for 环境、社会和治理 in the retail industry are created by high-profile companies with large representation. Examples include The Home Depot (U.S.), Rewe (Germany), and Carrefour (France), which are helping set standards across the globe. The emphasis for these companies includes utilizing renewable energy sources, creating sustainable products and having full transparency in emissions released. A major goal of large retailers is to attract ethical consumers, alongside the positive global effects of increasing 环境、社会和治理 compliance efforts.
Key risks within retail companies implementing 环境、社会和治理 practices involve supply chain methods, greenwashing and shareholder activism.
- When it comes to supply chain, forced labor and human trafficking are key items to prevent. 通过新的努力, including regulations demanding responsibility among businesses for their practices, businesses must implement greater monitoring to ensure that sustainable methods and humane working practices are used throughout manufacturing and distribution of products for retail.
- Greenwashing (misleading claims on environmentally sound products/services) has been an issue for companies looking to falsely improve their image. In 2023, companies risk legal action over such false claims, 因此, must be even more conscious of their transparency.
- 分享holder activism campaigns related to 环境、社会和治理 have substantially increased in the past few years; which again, can lead to legal action against companies who are seen as having bad practices or behavior when it comes to 环境、社会和治理.
环境、社会和治理 has a large upside for retailers who choose to invest in sustainable and transparent business practices. 然而, with the risks involved with the process of 环境、社会和治理 implementation, retailers are wary of going about the process “correctly,” to ensure that their efforts create positive impacts for themselves as well as the world around them. When moving towards more sustainable practices that support the 环境、社会和治理 movement, retail companies have a lot to keep in mind.
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