Environmental, social, and governance (ESG) has been on everyone’s lips and is a pressing priority for every business. But amid greenwashing concerns, how can you walk the talk and work towards ESG/sustainability?
What is ESG?
ESG covers environmental protection, social responsibility, and corporate governance. As we grapple with the impacts of climate change, and other social and ethical issues, it’s all the more important to make sustainable business decisions.
While ESG may mean different things to different industries, Norton Rose Fulbright has rounded up the key issues and pillars that are relevant to you and your consumers:
- Establishing targets to reduce carbon emissions
- Managing climate change risks
- Adopting resource and waste management practices
- Developing sustainable product ranges
- Conducting supply chain due diligence
- Embracing diversity, equity and inclusion
- Managing customer data responsibly
- Maintaining ethical corporate governance
Why is ESG/sustainability important?
ESG and sustainability are vital for businesses. They promote sustainable development, environmental protection, and being an eco-friendly company. Prioritizing aspects like indoor air quality, reducing carbon emissions, waste management, greenery, and office lighting creates a healthier and more sustainable workspace. Embracing sustainability is both ethical and strategic for long-term success.
To your business
By embracing and championing ESG/sustainability, you can not only foster a better image for your business but also thrive in a world that values ESG sustainability and equity.
It is through making our business eco-friendly, socially responsible, and governance-compliant that we can prosper and flourish the right way, and the better way.
ESG investing is the key to long-term success, enabling us to do business in a manner that aligns with our values and creates a positive impact on the planet and society.
To your employees
ESG and DEI (diversity, equity and inclusion) present a new opportunity for engaging and retaining talent, as workers increasingly prioritise flexible work, employee wellbeing and sustainable development.
By moving the ESG needle forward, you can create a better and greenery place for your employees, and that will contribute a big part to your business success.
To your customers
Simply put, your customers care about ESG. As Kantar and dentsu put it, “sustainability is overwhelmingly driving consumer choice.” Bain & Company also puts forward that APAC consumers are as aware of ESG/sustainability as their counterparts in Europe and the US.
Consumers are now assessing ESG credentials of brands when making choices through ESG investing, so companies should in turn respond to the demand by becoming more ESG-conscious.
To the community
You can also give back to the community by driving a change and making an impact for society and the environment at large.
When we make ESG-compliant decisions, we are essentially placing our current – and future – generations at the heart of sustainable development.
ESG in action at WeWork
WeWork Hong Kong believes that through making a positive impact, we can work together to create a better future of ESG Hong Kong. That’s why ESG has been at the core of what we do, to create the best coworking experience possible. Our ESG efforts include:
Indoor air quality
For our members’ productivity, health and comfort, our spaces are designed to deliver abundant fresh air, and to prevent the buildup of common pollutants. Across our Hong Kong locations, we are monitoring our indoor air quality proactively and regularly.
We have also developed an HVAC strategy to mitigate the spread of the virus, based on the guidance from ASHRAE, REHVA and CDC. This protocol has been accredited by Bureau Veritas, demonstrating our commitment to providing a greenery place that prioritizes both indoor air quality and the overall well-being of our members.
Health and wellbeing
At every WeWork coworking space, office lighting is a signature element of spatial design to achieve a greenery place. We use low flicker LED office lighting to optimise the visual experience for our members, while at the same time ensuring energy efficiency. For energy-saving purposes, there are also automatic lighting controls to keep lights off in vacant spaces and at night.
To promote wellness among our members, we have also incorporated indoor plants as part of our Building Design Standards. Biophilic design helps create a cosy and comfy environment to inspire creativity and productivity for our members to do their best work.
We also fit out our spaces for a wellbeing-focused environment by offering wellness classes and Mother’s Room, so members can not just work hard, but also play hard, and achieve a better work-life balance.
Waste management
When it comes to environmental protection, WeWork has a waste reduction strategy in place, which is also in line with tackling ocean plastic pollution.
Apart from cutting back on single-use plastic, we have also increased waste streams and office recycling, as part of our commitment to reducing waste to 10 kg/member/year.
Energy use
As a sustainable social enterprise, we are committed to reducing carbon emissions and creating an eco-friendly working environment. We prioritize energy efficiency by implementing Smart Building Management Systems and conducting regular energy audits to track the use of energy in our spaces.
Additionally, we have made significant strides in transitioning to renewable electricity. As proud members of RE100, we collaborate with landlords and suppliers to achieve our ambitious target of becoming 100% renewable by 2035. Through these initiatives, we aim to create a greenery place where office lighting and sustainable business go hand in hand.
WeWork Hong Kong is committed to creating green working spaces as an eco-friendly company. Come join us in creating a more sustainable and responsible future for our community.