As the fourth and final part of our Green Month series, we want to introduce you to ESG and the role it plays in the work we do here at Altum Technologies.
Let’s start with the basics: What does ESG stand for?
ESG encompasses three broad areas crucial to a business’s resilience and long-term success.
- Environmental factors refer to a company’s role in and approach to climate change, waste management, and conservation efforts.
- Social aspects focus on a company’s treatment of its employees, suppliers, customers, and community.
- Governance emphasizes a company’s leadership structure, executive pay, audits, internal controls, and shareholder rights.
Since climate and environmental sustainability are our focus this month, we will focus on these aspects of ESG. In the face of pressing climate challenges, environmental sustainability governance emerges as a powerful tool for companies to integrate environmental considerations into their operations and align with global climate and sustainability goals.
Utilizing ESG to Reach Climate and Sustainability Goals
Environmental sustainability governance refers to the policies, practices, and strategies companies implement to manage and mitigate their environmental impact. It encompasses many areas, such as reducing carbon emissions, conserving natural resources, adopting clean energy sources, and minimizing waste generation.
By integrating environmental sustainability governance into their operations, companies aim to align their business practices with global climate goals, drive innovation, build resilience, and enhance their reputation as responsible corporate citizens. This has always been a given for Altum since one of our core values is embracing and developing sustainable solutions for the process industry.
Let’s explore how businesses can employ ESG principles to reach their climate and sustainability goals:
- Setting Clear Objectives and Targets
Environmental sustainability governance enables companies to establish clear objectives and targets for reducing their ecological footprint.
2. Integrating Sustainability into Business Strategies
Effective environmental sustainability governance involves integrating sustainability considerations into the core business strategies of companies.
3. Fostering Innovation and Collaboration
Environmental sustainability governance encourages companies to foster innovation and collaborate with stakeholders to develop sustainable solutions.
4. Enhancing Transparency and Accountability
Environmental sustainability governance promotes transparency and accountability by requiring companies to disclose their environmental performance and progress towards sustainability goals.
5. Engaging Employees and Stakeholders
To effectively drive change, environmental sustainability governance emphasizes the importance of engaging employees and stakeholders.
In the face of pressing climate challenges, environmental sustainability governance emerges as a powerful tool for companies to integrate environmental considerations into their operations and align with global climate and sustainability goals.
How does Altum implement an ESG strategy?
Altum has focused on creating and implementing an ESG strategy. We have cooperated with all our stakeholders and made an ESG roadmap for the following years with an aim to build lasting value for our customers and generate returns for stakeholders responsibly. We believe we can create a sustainable future with our stakeholders with concrete steps and actions, and our ESG strategy is in line with the United Nations Sustainable Development Goals.
One of our concrete actions has been creating Altum’s ESG policy.
We are focusing on three main themes:
- Safety, which is our main priority,
- Improving our understanding of our solution’s environmental and climate benefits for our customers and partners, and
- Investing in our best asset, our employees’ well-being and health.
Therefore, our ESG commitments are:
- Altum aims to explore its solution’s potential to reduce the climate and environmental impacts of its customers’ operations with the long-term vision of becoming the number one technical solution in helping industrial actors achieve energy, material, and process efficiency.
- Altum’s goal is to be the best practice example of a fair and attractive workplace among its peer group.
- Altum’s (industrial maintenance) solution paves the path to enable occupational health and safety and secure industrial maintenance.
If you want to know more about Altum’s ESG policy, you can read the policy here.
At this point, we want to thank you for following our Green Month series during July. We hope that we shared some light and attention on more environmentally friendly practices and perhaps even inspired you to explore greener and more sustainable ways!
Remember, no act towards a greener planet is too small!