Impact assessment

- According to a report by the World Economic Forum, companies that consider the environmental and social impact of their business decisions are more resilient and better positioned for long-term success. This underscores the importance of impact assessments in the context of ESG. Impact assessments not only inform decision making, but also contribute to the overall sustainability and resilience of the organization. Let's take a look at a few common impact assessments you should be covering. First, a cost benefit analysis. When conducting a cost benefit analysis, identify the direct and indirect costs of implementing ESG initiatives. These include costs related to technology upgrades, employee training, and process changes. Potential benefits might include operational efficiencies, improved brand reputation, and enhance stakeholder relationships. Then try to quantify the financial impacts. What are the monetary values to both costs and benefit? And consider non-financial factors such…