What is ESG?
The acronym ESG, which stands for Environmental, Social and Governance – refers to a set of standards used to measure an organisation’s environmental and social impact and how transparent and accountable it is. This has become the backbone for many reporting frameworks used today to measure how an organisation is run, and what impact it has.
ESG is important because it helps us to:
- Protect the future of Scottish Building Society and its members by promoting sustainable business practices.
- Identify risks early – companies with strong ESG practices are better equipped to handle risks related to environmental regulations, social issues and governance challenges.
- Continue to invest in local communities – companies with a focus on ESG practices can invest time and money where it will make the most impact.
- Look after our colleagues, who are the backbone of our service, and attract the right people to ensure we continue to thrive. We will do this by demonstrating that we are an employer that is doing the right thing by our people and our communities.
Since 1848, Scottish Building Society has been there to provide certainty and security to our savings and mortgage members. Today, that means ensuring that our sustainability agenda is central to how we operate.