Tag: ESG and Sustainability

Global Supplier Diversity: A Path to Inclusive Procurement | LinkedIn Live

LINKEDIN LIVE

Global Supplier Diversity: A Path to Inclusive Procurement

View the event on LinkedIn, which was delivered live on Thursday, November 2, 2023.

🌎 As businesses expand globally, diversity in supply chains becomes critical for competitiveness, risk mitigation, and meeting societal demands for inclusion and social responsibility.

Watch this LinkedIn Live as our expert analysts explore the global landscape of supplier diversity initiatives and the challenges and opportunities they present 📊. We’ll discuss the importance of inclusive procurement practices and the cultural considerations and adaptation of supplier diversity strategies in different regions 🤝.

💡 Viewers will gain practical advice on aligning procurement processes with diversity goals on a global scale and hear success stories and innovative approaches from around the world that promote supplier diversity and inclusive procurement 🌐🚀.

What did we discuss?

  • ✅ The global landscape of supplier diversity initiatives and the challenges and opportunities
  • ✅ How inclusive procurement practices can foster diversity and inclusion within the supply chain, and why it’s important
  • ✅ Cultural considerations when adapting supplier diversity strategies in different region

Meet The Presenters

 

Where Sustainability Unites: Climate Week NYC, UNGA, and CGI | Blog

Everest Group proudly participated in three noteworthy global sustainability events in Manhattan this September: Climate Week NYC, the 78th session of the UN General Assembly (UNGA 78), and the Clinton Global Initiative (CGI) annual meeting. These events centered around economic inclusion, climate change, health access, biodiversity, and other critical concerns. Read on for insights from our analyst team, who attended and presented at these pivotal gatherings that fostered collaboration and dialogue with the international community to advance sustainability efforts.

Climate Week NYC

This year’s Climate Week NYC was the largest climate event globally, bringing together 500 events and uniting over 10,000 people with a theme of “We Can. We Will.”

The week-long event from September 17-24 focused on accelerating action to achieve net zero emissions by 2050 and building a more just and equitable society. We are seeing businesses across industries planning their paths to net zero, while also focusing on the “people” aspect of sustainability by actively working toward diverse and inclusive workforces and social and economic equity.

Climate Week NYC presented many opportunities to engage with like-minded individuals and organizations actively working towards a more sustainable and resilient future. Capgemini invited Rita Soni, Everest Group Principal Analyst, Impact Sourcing and Sustainability Research, to speak on a panel about technology companies’ unique role in addressing biodiversity entitled, Data & AI for Climate: Biodiversity Buzz.

Representatives from governments, businesses, and civil society convened to discuss innovative solutions and concrete commitments to reduce carbon emissions, preserve ecosystems, and transition to a low-carbon economy.

Climate Week NYC serves as a powerful reminder that despite the immense challenges of climate change, an incredible amount of collective will and ingenuity dedicated to finding solutions exists.

At Everest Group, we assist enterprises by guiding them toward forward-thinking strategies such as the circular economy. This innovative model of production and consumption focuses on making the most of resources. By adopting frameworks like the circular economy, enterprises can effectively handle material resources, minimize waste, and seamlessly incorporate sustainable principles into their operations.

Additionally, we are helping businesses embrace crucial initiatives like carbon accounting and Environmental, Social, and Governance (ESG) reporting. Companies are increasingly prioritizing ESG reporting to manage risk, enhance their reputation, and comply with regulations.

UNGA 78

During the UNGA meeting, global leaders reaffirmed their commitment to the Sustainable Development Goals (SDGs) adopted by the United Nations in 2015 to work toward creating a more equitable, sustainable, peaceful, and prosperous world.

While leaders are intensifying efforts to reach the SDGs by 2030, global progress has been hindered by multiple critical issues, such as the ongoing pandemic, the war in Ukraine, and the looming climate crisis. However, the imperative to achieve these goals has never been more pronounced.

Our analysts participated in global and domestic discussions, including two particularly impactful events:

  • Delivering Development: Journeys, Directions, and Lighthouses, hosted by the Permanent Mission of India to the UN, highlighted recent development progress and considerable efforts to meet the SDGs.
  • The National Wildlife Federation hosted the premiere of the documentary film, Where it Floods: Planting Hope in Coney Island. The film and panel discussion covered the devastation from Superstorm Sandy in October 2012. It also showcased local non-profit organizations’ work with children to restore the waterfront while raising climate change awareness.

CGI Annual Meeting

Held during UNGA and Climate Week NYC, CGI’s annual meeting focused on the need to “Keep Going.” CGI is a “community of doers taking action on the world’s most pressing challenges, together.”

Everest Group shared the industry’s progress on its 2022 commitment to grow the impact sourcing market to half a million people in three years. Impact sourcing is a growing practice where businesses intentionally train, hire, and nurture people from a wide range of excluded and marginalized groups, such as people with disabilities, the long-term unemployed, individuals from rural/forgotten communities, and veterans.

We proudly announced that in just the first year of the commitment, the global services industry is within striking distance of the three-year target. The number of impact workers has increased from 350,000 to at least 430,000, representing faster growth than traditional hiring, even during this tumultuous year of economic uncertainty.

Everest Group’s pledge to inclusive talent

To uphold our pledge, Everest Group has enlisted support and partnership pledges from more than 50 prominent global employers, service providers, and enabling organizations. Together, we are embarking on a collaborative mission to enhance lives through impact sourcing. With the backing of CGI, this group is poised to expand its reach and ultimately impact more lives by bringing employment opportunities to those affected by discrimination, inequality, or systemic poverty.

Why impact sourcing is good for business

What makes this initiative so remarkable is that Everest Group’s research shows impact sourcing has mutual benefits for workers, employers, and buyers. For impact workers, this endeavor opens doors to newfound opportunities and a sense of purpose. As they engage in meaningful employment, workers not only gain valuable skills and financial independence but also experience personal growth and empowerment.

Companies that employ impact workers are making strides toward achieving their sustainability objectives and witnessing increased sales as consumers seek products with a greater social purpose. Moreover, companies are enhancing their employer brand proposition as potential employees are drawn to organizations that champion causes beyond profits. By prioritizing impact sourcing, businesses not only attract top talent but also inspire existing employees to be more engaged and committed to their work.

How your company can get involved

With the implementation of evolved impact sourcing practices and performance indicators, impact sourcing’s true potential lies in its widespread adoption at scale beyond the initial commitment. To fully harness its power:

  • Buyers must actively demand impact sourcing with timelines for growth
  • Service providers and enterprises need to:
    • Integrate inclusive talent strategies across locations and job roles
    • Establish a growing ecosystem of skilling institutions, recruitment firms, non-government organizations (NGOs), and government agencies to provide the necessary support

As emerging technologies like generative Artificial Intelligence (AI) and other yet-to-be-developed advancements become mainstream, the talent market will face both opportunities that will expand certain roles and reduce others. Impact sourcing can provide a viable workforce solution for the jobs of tomorrow.

Everest Group looks forward to partnering with employers, service providers, and recruitment and sourcing firms to leverage impact sourcing’s many opportunities and promote the benefits of a globally relevant and inclusive talent model. To join the movement and make a difference to individuals, families, communities, and businesses, learn more here.

Check out our 2024 Key Issues webinar, Key Issues 2024: Creating Accelerated Value in a Dynamic World, to learn the major concerns, expectations, and trends for 2024 and hear recommendations on how to drive accelerated value from global services.

Creating a Sustainable Workforce through Employer of Record (EOR) Partnerships | Blog

Step into the realm of responsible business practices and sustainability with an employer of record (EOR). Numerous studies have suggested that organizations with Environmental, Social, and Governance (ESG) initiatives are better equipped to create a positive impact on the world while also driving growth and business success. Read on to discover how EOR partners can guide organizations toward achieving their ESG goals, including architecting a blueprint for a sustainable workforce. 

Contact us to learn more about ESG and sustainability initiatives.

By incorporating ESG principles into an organization’s vision and strategy, businesses can align themselves with broader ethical and sustainable goals. The “E” emphasizes preserving natural resources, “S” nurtures relationships and reputation within communities, and “G” commits to upholding impeccable corporate ethics and governance. In a nutshell, ESG charts a course for businesses to be responsible, well-regarded, and successful all at once.

Enterprises can build a sustainable global employment and mobility strategy by leveraging the services of an EOR, a third-party organization that enables companies to legally engage with workers in a new country or region without needing to set up a legal entity or risking violating local laws. The EOR undertakes the responsibility to pay and manage permanent or temporary employees on behalf of another company.

EOR providers have emerged as key partners in assisting organizations not only to build a resilient and diverse workforce but also to foster a sustainable future that aligns with their ESG commitments. Let’s explore this further.

Cultivating a workforce on ESG principles: the impact of EOR partners

Traditionally, business success has been measured by the bottom line. But what if success was not only about making a profit but also about the difference the organization makes? By balancing the needs of people, the planet, and profit in a sustainable way for all stakeholders, businesses can generate true value. This “triple bottom line” approach has pioneered a new era of business prosperity.

EOR firms act as guiding partners, helping businesses embrace flexibility, inclusivity, and ethical practices. EOR providers can help organizations advance their ESG goals in the following key ways:

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Looking toward a brighter and more sustainable future

EOR providers act as catalysts for change, enabling organizations to cultivate a sustainable workforce that flourishes within today’s dynamic business environment. By promoting environmentally friendly practices, nurturing a socially inclusive work environment, and upholding ethical governance standards, EOR providers empower organizations to realize their ESG commitments and goals.

As the world continues to evolve, EOR providers remain unwavering allies, guiding organizations toward a future where both business success and societal well-being go hand in hand. A workforce characterized by sustainability, diversity, and accountability can materialize through these collaborative efforts. Partnering with EOR providers can help organizations transcend from simply aspiring to have a globally dispersed sustainable workforce to achieving that exciting vision.

Using OKRs for Your Sustainability Goals: It’s Time to Drive Meaningful Change | Webinar

ON-DEMAND WEBINAR

Using OKRs for Your Sustainability Goals: It’s Time to Drive Meaningful Change

As enterprises become more sustainability-driven, traditional approaches to measuring success, such as Key Performance Indicators (KPIs) and Service Level Agreements (SLAs), are no longer practical methods for determining objectives and measurable outcomes for pressing sustainability issues – like climate change and inequity.

Objectives and Key Results (OKRs) are a dynamic framework that offers a fresh perspective on delivering impactful metrics.

Watch as our sustainability experts discuss how enterprises can leverage OKRs for their sustainability initiatives and transition from the conventional KPI and SLA approaches to an OKR-driven methodology.

What questions does the webinar answer for the participants?

  • What are OKRs?
  • How do they differ from and/or complement more traditional KPIs and SLAs?
  • Why use OKRs for sustainability specifically?

Who should attend?

  • Sustainability tech lead
  • Head of sustainability services
  • Head of net zero transformation portfolio
  • Head of decarbonization
  • Head of diversity, equity, inclusion, and belonging (DEIB)
  • Head of accessibility & digital inclusion
  • Principal sustainability advisor
  • Climate change & sustainability director
  • Head sustainability products and platform
  • Head of green tech
Doshi Ronak
Partner
Singh Prateek
Practice Director
Soni Rita B
Principal Analyst

Cracking the Eco-code: How Software Can Be Your Sustainability Superhero | LinkedIn Live

LINKEDIN LIVE

Cracking the Eco-code: How Software Can Be Your Sustainability Superhero

View the event on LinkedIn, which was delivered live on Thursday, September 28, 2023.

📈 Rising regulatory pressures, a continuously evolving reporting ecosystem, and an increasing correlation between sustainability and brand perception in the market have caused enterprises to look to technology to automate environmental, social and governance (ESG) reporting, generate actionable sustainable insights, and unlock business value through operational efficiency.

🌱 However, enterprises must first understand the sustainability enabling software market for effective planning and successful outcomes.

📢📢 Watch this LinkedIn Live session as our expert analysts explore the sustainability enabling software market and the key offerings of the major players in this space. They will cover market segments like ESG reporting platforms, EHS management platforms, Green IT, supply chain traceability platforms, and many other emerging developments.

What questions does the event answer for participants?

  • ✔️ What are the major segments present in the sustainability software ecosystem?
  • ✔️ What are the key value propositions and offerings of the major players?
  • ✔️ What kind of enterprise challenges are these platforms resolving?
  • ✔️ What are the emerging categories of players in the space?

Meet The Presenters

A Message from Everest Group’s CEO and Founder on the Positive Opportunities Within Sustainability | Blog

There’s no question that global services are increasingly important to all types of private and public sector organizations worldwide. Our passion, focus, and vision at Everest Group are helping our clients and the industry at large understand the potential of ever-changing services capabilities and how to most effectively shape and utilize services to drive and consistently improve stakeholder value for optimum impact.

Today there is no more urgent need than to understand how to achieve sustainability goals for our clients. We see an abundance of talent, ingenuity, and innovation across all global services. We are eager to bring this insight to our clients and help them make the most of the sustainability opportunity.

Discover more of Everest Group’s insights on sustainability.

And keep an eye on our new sustainability-focused LinkedIn page, where we deliver valuable sustainability insights that businesses can leverage for their sustainability goals.

Driving Sustainable Change: A Look into the Insurance Industry’s Commitment to Sustainability | Blog

Embracing sustainability in the insurance industry is not just a choice, but a necessity for a resilient future. By integrating Environmental, Social, and Governance considerations into their practices, insurers can mitigate risks and foster long-term value for customers, shareholders, and the planet.

Sustainability has been a pivotal issue for years, but the recent conditions induced by the storm of the COVID-19 pandemic’s economic effects and the escalating climate change impacts across the world have increased pressure on industries across the globe to be aware of their Environmental, Social, and Governance (ESG) footprint. The financial services sector has not been behind in the race to drive the global sustainability agenda, largely driven by the BFS industry in the past. However, over the past few years, the insurance industry, being a key player in this sector, has also recognized the importance and urgency of embracing various practices in its operations to contribute to a sustainable planet. By integrating sustainability into various aspects of their operations, insurers are not only mitigating risks associated with climate change and environmental degradation but also fostering long-term resilience and contributing to a more sustainable future. This blog will explore how the insurance industry is driving the sustainable change through technological investments, product innovation, business processes, and disclosures.

With the increasing pressure from regulatory authorities, customers, employees, shareholders, and other market participants, insurance enterprises are striving to incorporate various aspects of sustainability into their business. Insurance firms are embracing sustainable change in a variety of ways, including through their investments, underwriting choices, and the structure of their insurance products, as well as using their own office buildings and making the vehicle fleet available to executives and staff. By integrating ESG considerations into their risk management, product design, internal operations, long-term strategies, and workforce management, many insurance firms have already started their journey toward becoming purpose-driven organizations and have begun to integrate sustainability with their core businesses.

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Exhibit 1: A look at various internal and external ways to incorporate sustainability

Incorporating sustainability in workforce management and internal processes has been the first step in creating sustainable change for most insurance enterprises. However, with the high awareness and responsibility in the play, insurers are now also increasingly moving toward adding sustainable insurance products in their catalog that address environmental and social challenges to become champions in the maturity continuum [Exhibit 2]. For instance, insurers offer green insurance policies at lower premium rates to incentivize environmentally friendly practices and offer coverage for renewable energy installations, energy-efficient buildings, and sustainable agriculture. Similarly, parametric insurance products provide rapid and efficient payouts in the event of natural disasters, helping communities recover faster and build resilience against climate change impacts. These innovative products not only protect clients against risks but also encourage sustainable change behaviors and contribute to a greener future.

Another impactful way in which insurers can increase their top line while promoting sustainability is by incorporating sustainability criteria into their investment policies, divesting from environmentally harmful industries, and investing in renewable energy projects. These actions not only align with the insurers’ values but also offer potential financial returns while mitigating climate-related risks.

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Exhibit 2: Sustainability maturity continuum for insurance enterprises

Insurers need to prepare for sustainable change with the right technology and data architecture to achieve their sustainability goals, maintain transparency, and stay ahead of the regulatory disclosures requirements.

Insurers have been leveraging consulting partners to help them define their roadmap and strategies to achieve their sustainable agenda. But one of the biggest challenge  insurers face in this pursuit is the lack of robust data architecture to provide an understanding of the current ESG footprint, such as carbon emissions, energy consumption, energy mix, and employee well-being. As more insurer enterprises move toward becoming sustainability champions and provide transparency and disclosures to the regulatory bodies and other stakeholders, there will be increased opportunity for data and analytics providers to partner with the insurers to help them align their insurance portfolios with sustainability goals and manage ESG-related risks.

Additionally, collaboration with technology and IT service providers can help insurers build new products and solutions by leveraging cutting-edge technologies such as data analytics, AI, cloud computing, AR/VR, and blockchain that can boost the sustainability agenda along with unlocking fresh opportunities for generating revenue. Moreover, using technologies such as green/sustainable cloud to minimize operating expenses and carbon footprint while optimizing energy demand, predictive/prescriptive maintenance of equipment using IoT to limit energy and materials waste, and processing claims efficiently and sustainably by uploading photos and videos of damage through an AR/VR interface are some of the ways insurers can leverage technology to achieving their internal sustainability initiatives as well.

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Exhibit 3: Utilizing cutting-edge technology to drive sustainable change

The insurance industry has recognized the urgent need to embrace sustainability and is taking significant steps to drive positive change. By integrating sustainability into investments, leveraging technological innovation, offering sustainable products, adopting environmentally responsible business processes, and promoting transparency through disclosures, insurers are playing a crucial role in addressing global sustainability challenges. As the industry continues to evolve, the integration of sustainability practices will become even more critical, enabling insurers to manage risks effectively, foster resilience, and contribute to a more sustainable future for all.

For more details on how the insurance industry is moving toward driving sustainable change and insuring a sustainable tomorrow, please refer to our report Insuring a Sustainable Tomorrow: How the Insurance Industry is Driving Positive Change.

The Impact of Impact: Effectively Measuring Impact Workers’ Metrics | LinkedIn Live

LINKEDIN LIVE

The Impact of Impact: Effectively Measuring Impact Workers’ Metrics

View the event on LinkedIn, which was delivered live on Thursday, June 8, 2023.

Organizations’ methods of tracking performance metrics of impact workers vary across the board. 📊 Impact measurement can be a powerful tool to inform program creation, assess effectiveness, and drive decision-making. 💡 But when it comes to the measurement of impact workers’ metrics, what is the most effective approach, and how do you use the data for better business outcomes? 🤔

In this LinkedIn Live session, we will explore one of the key aspects of impact sourcing – impact measurement – and the need to track metrics effectively for better business case creation. 🔎

Watch to learn more about this important topic and to gain valuable insights into how to effectively measure the impact of impact sourcing initiatives. 🌟

What questions did the event address?

  • Market standards and general recommendations 📈
  • Key approaches followed by organizations 🤝
  • Learnings from best-in-class peers 🏆
  • Pitfalls to avoid and best practices to follow ⚠️💡

Meet The Presenters

Measuring the Impact of Impact Sourcing | Virtual Roundtable

Virtual Roundtable

Measuring the Impact of Impact Sourcing

May 24, 2023 |
9 AM EDT | 7:30 PM IST

In this forum, Rita will explore one of the key aspects of impact sourcing – impact measurement – and the need to track metrics effectively for strong business case creation. Organizations’ methods of tracking performance metrics of impact workers vary across the board, but what is the most effective approach, and how do you use the data for better business outcomes?

Join this virtual roundtable to discuss impact measurement and share key approaches, learnings, and best practices.

We’ll uncover the key aspects of impact measurement, including:

  • Market standards and general recommendations
  • Key approaches followed by organizations
  • Learnings from best-in-class peers
  • Pitfalls to avoid and best practices to follow

Who should attend?

  • ESG and sustainability leaders
  • Chief diversity officers
  • Sustainability leaders
  • Corporate social responsibility leaders
  • Workforce and talent strategy leaders
  • CHROs and heads of HR
  • Heads of outsourcing
  • Global sourcing managers
  • Service providers

Virtual Roundtable Guidelines

The only price of admission is participation. Attendees should be prepared to share their experiences and be willing to engage in discourse.

Participation is limited to enterprise leaders (no service providers). Everest Group will approve each attendance request to ensure an appropriate group size and mix of participants. The sessions are 90 minutes in duration and include introductions, a short presentation, and a facilitated discussion.

Soni Rita B
Rita Soni
Principal Analyst, Impact Sourcing & Sustainability Research
Paul Steenkamp
Paul Steenkamp
Founder at Jack Frost
Marzanne Collins 1
Marzanne Collins
Executive Advisor at Harambee Youth Employment Accelerator
Evan Jones
Evan Jones
Group Strategy Director at Harambee Youth Employment Accelerator

How can we engage?

Please let us know how we can help you on your journey.

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