ESG – IMPACT ON SMALL AND MEDIUM SIZED BUSINESSES
ESG stands for environmental, social, and governance. UK ESG regulation in the form of the Companies Act requires companies with more than 500 employees or greater than £500 million in annual turnover to publicly disclose information about their ESG performance.
Great news for small and medium sized businesses in the UK in that they do not need to disclose ESG information. Unless you have clients that fall within the ESG reporting regulations. In which case your client might expect your company to report its carbon footprint under “Scope 3” which encompasses emissions that are not produced by the company itself and are not the result of activities from assets owned or controlled by them, but by those that it’s indirectly responsible for up and down its value chain.
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