How ESG Consultants Can Help Your Organization

January 27, 2023
| In Insights
| By BY FAIZA ALI

ESG refers to a set of standards that deals with the implementation and reporting of a company’s Environmental, Social, and Governance aspects. More than ever, companies worldwide are investing resources to improve their ESG, driven by climate change concerns and client demand.

With the United Nations Climate Change Conference of Parties (COP28) set to take place in Dubai in 2023, government and private business institutions in the UAE are also prioritizing ESG. For more details about ESG, what it is, and how it is implemented, check out our article on ESG and its contribution to businesses and investors. 

In this article, we look at the specific value ESG-specialized consultants can bring to your business ESG strategy and implementation.

Generally, consultants increase your return on investment in construction projects. ESG consultants are no different, but first, we will distinguish ESG from other business standards, such as CSR. 

How is ESG different from CSR?

With many different sustainability-related terms being used in the business world, it can be confusing to understand how ESG differs.  Corporate Social Responsibility (CSR) and ESG are different ways businesses can achieve sustainability goals. 

CSR is the first or broader step that ESG can follow to allow businesses to quantify their impact on the environment and society.  While CSR tends to be more qualitative and internally regulated, ESG is more specific, quantitative, and externally regulated, which requires constant monitoring and precision. 

This is where ESG consultants provide value.

What do ESG Consultants do?

  • Assess your business: Once you appoint an ESG Consultant, they thoroughly study your business and the industry it operates in to assess any environmental, social, and governance issues that stand to affect the company and its investors. This assessment uses several tools, including a materiality assessment matrix, baseline identification, goal setting, gap analysis, ESG roadmap, and KPI identification.
  • Provide feasible recommendations: Following a complete analysis, an ESG Consultant creates a list of relevant and achievable recommendations on how your business can improve its environmental, social, and governance aspects. These recommendations are tailored to work around company priorities while still abiding by external regulations.
  • Create an ESG strategy report: The ESG Consultant puts together a summary of all findings, concerns, objectives, recommendations, and tactics to map out the entire process of how your business can achieve its ESG goals. These reports can be used to monitor ESG-related progress and communicate the business value to key stakeholders such as customers, investors, and regulators.

How do ESG Consultants bring value to your business?

  • Pursuing ESG already has multiple benefits for businesses, and the expertise of an ESG Consultant helps you make the best of these benefits. When it comes to building a sustainable foundation for business growth, increasing savings, improving reputation, increasing business value to investors, and adhering to regulations, ESG Consultants have qualifications and years of experience to help you attain the most ideal outcomes.
  • You get to leave all the hard work to the experts. ESG Consultants already have extensive knowledge in environmental, social, and financial sustainability, as well as ESG as a specific standard. They know exactly where to start with strategizing, where to look for information, how to pinpoint areas of improvement, and what tactics to complete to achieve positive results. 
  • ESG Consultants provide an external point-of-view that is fresh, unbiased, and knowledgeable to ensure you take advantage of every opportunity to improve your ESG.

What should you look for in an ESG Consultant?

Say you have decided to seek advice from an ESG Consultant. What are some of the qualities they should possess to bring you the best project outcomes? 

  • Experience in the field of sustainability – including years of ESG project expertise and official certifications and qualifications in ESG
  • Knowledge of ESG regulations – including relevant global regulations as well as specific regional ones (e.g., Ministry guidelines) so that the company’s ESG strategy can be in compliance
  • An eye for detail – for pinpointing areas for improvement, monitoring company behavior and industry activities and providing feasible recommendations
  • Expert research capability – needed to consult varying sources of information, both internal and external to the company
  • Excellent written and verbal communication – required for building and maintaining client relationships and creating clear and comprehensive ESG reports
  • Strong ethics – to develop an ESG strategy that has the best interests of the environment, society, and the company’s priorities and finances in mind while maintaining transparency throughout
  • Holistic thinking – to use the ability to look at the bigger picture and from multiple points of view to develop a truly viable and sustainable ESG strategy

ESG Consulting at Alpin

With a decade of experience in the sustainability industry, Alpin’s experts felt that offering ESG Consultancy was a natural step forward. 

Our ESG services align with the UN Sustainable Development Goals, including general advisory services, impact assessments, and alignment with relevant international disclosure standards and frameworks.

Case study: MOEI ESG Policy Advisory

The Alpin team is currently developing a complete CSR Policy implementation guideline to help strengthen the sustainability commitments and ESG goals of the UAE’s Ministry of Energy and Infrastructure (MOEI).

While providing broad CSR advisory, our ESG experts also map out specific and actionable goals and tactics for achieving environmental, social, and governance goals. 

The strategy being developed closely aligns with the UN SDGs and covers everything from societal development to risk management, environmental conservation, and resource management.

So, now you know what ESG Consultants do, how appointing them can increase your business’ value, endurance, and positive impact, and what qualities make them great at their roles.

Want to know more about ESG or how Alpin’s ESG Consultants can help your business specifically? 

Reach out to us at contact@alpinme.com or give us a call at +971-2-234-6198