To spread ESG within companies, resilience, commitment, and – above all – the example of the C-Level are necessary so that the culture is embraced by the entire company. This is the main point made by Fabio Coimbra, partner at PwC, and echoes the words of Roberto Andrade, Business Leader at CBRE GWS, and Renata Ribeiro, CFO of Wacker Chemie, who participated in the first day of Expo ESG, one of the main events on the subject in Brazil.
During a panel discussion on business strategy and ESG, experts spoke about the importance of culture in implementing ESG strategies within companies. They argued that when the example comes from the top, it is much easier for ideas to be internalized and absorbed throughout the corporation.
“The C-Level is fundamental for these changes to be implemented in companies. Organizational culture needs to change for ESG to be truly implemented,” stated Roberto Andrade. According to him, in recent years, organizations have needed to rethink and update their culture so that ESG practices are adopted, impacting them financially as well, since investors are selective with their resources, prioritizing companies with ESG practices.
Another assessment they made is that ethics and business must go hand in hand to generate the desired social and financial results, just as the adoption of sustainable business models and risk management, focusing on governance and the environment, is essential. “It is necessary to have responsibility and strong governance in the management of companies. Leaders have an important role in this and must be attentive, because at some point everyone will be impacted by ESG,” said Renata Ribeiro.
For Fabio Coimbra, concern for stakeholders should be constant and aligned with corporations' ESG strategy. According to the PwC partner, regulatory bodies and public authorities have an important role to play in strengthening the ESG agenda in companies.
