Introduction
Creating an ESG policy within the KEY ESG platform allows your organisation to formalise and communicate its approach to environmental, social, and governance (ESG) matters. This process helps align internal stakeholders and demonstrates your commitment to long-term sustainability and governance goals to external audiences, including ESG ratings organisations.
This guide outlines the steps required to create an ESG policy within the KEY ESG platform and provides additional context to help you make the most of this tool.
Steps to Create an ESG Policy
Navigate to the “Policies” section
On the lefthand menu under the "IMPROVE" section, select "Policies."
Add Policy Details
Enter a policy name that is descriptive of the policy’s purpose or focus area.
In the description field, provide a summary of the policy's key objectives, priorities, and intended impact on the organisation.
Upload the policy document to formalise your ESG commitments.
Assign Policy Owner and Details
Assign an owner: Designate a person responsible for the policy’s upkeep and implementation.
Select a category: Choose the appropriate category that best reflects the scope of the ESG policy.
Assign the responsible person/role/department: Identify the role or department that will oversee the policy.
Optionally, set a policy end date to define when this policy will be reviewed or expire.
Finalise and Save
Once all fields are completed, click "Create policy" to save the details in the platform.
Key Aspects to Understand When Creating an ESG Policy
Purpose and Value
An ESG policy serves as a communication tool for both internal and external stakeholders. It creates a shared language and clarity of purpose within the organisation. Externally, it signals a thoughtful and strategic approach to long-term value creation, which is important for stakeholders such as ESG ratings organisations.Tailoring to Your Organisation
Your ESG policy should be reflective of your organisation’s unique culture and values. Clarity and precision in your commitments and targets will enhance the credibility and impact of the policy. It is important to base the policy on the results of your materiality assessment.
Example
Here is a worked example using the KEY ESG platform:
Policy Name: "Sustainable Resource Management"
Description: This policy outlines the organisation's commitment to managing resources sustainably, minimising waste, and reducing carbon emissions in line with global environmental standards.
Category: "Environmental"
Policy Owner: "John Doe (Head of Sustainability)"
Responsible Department: "Operations"
End Date: 31/12/2025
Once this information is entered, simply click "Create policy" to formalise and save the ESG policy.
By following these steps, your organisation will be able to clearly articulate its ESG priorities, creating a robust foundation for sustainable decision-making and external reporting.
Conclusion
Creating a well-structured ESG policy is an essential step towards aligning your organisation's strategy with long-term sustainability goals. By using the KEY ESG platform, you can easily establish and formalise these commitments, ensuring they are clear to both internal and external stakeholders.
To get started, follow the steps outlined above to create your ESG policy. This will not only streamline your ESG efforts but also demonstrate your organisation’s commitment to responsible governance, environmental stewardship, and social responsibility.
If you need further assistance or have any questions, our team is here to help. Feel free to reach out via the in-platform chat function or send an email to support@keyesg.com.
Take action now to build a policy that supports your organisation’s sustainable future!