Policy, Program and Procedures

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  • 1.  ESG - What is your company doing?

    This message was posted by a user wishing to remain anonymous
    Posted 09-10-2021 03:13 PM
    This message was posted by a user wishing to remain anonymous

    Our audit group has officially introduced our Executive Leadership team to ESG and we're now being tasked with trying to figure out how to start developing a framework. Has anybody else started approaching this and if you are, can you share what you're doing? Even potentially beyond just TPRM?

    Thanks!


  • 2.  RE: ESG - What is your company doing?

    Posted 09-16-2021 10:51 AM

    Since ESG is new for so many organizations, it might be challenging to get any feedback on this topic yet. Let me share some practical advice for getting started.

    First, ESG must always start with the organization's internal plan for disclosure and reporting before determining your TPRM ESG plan. After all, you want to apply those standards to your vendors. But depending on your organization, what products and services you provide, if it is regulated, if it operates domestically only or has an international footprint, all will come into play as that ESG framework design evolves.

    It sounds as though your organization is just getting started and could use some extra information. Since this is a new topic for so many, I would also like to know how our other members develop their ESG frameworks. Let us know what works, what resources are helpful, and any bumps to avoid.

    While we wait for other members to respond, I would like to share our recently released ESG toolkit that includes an ESG and Third-Party Risk whitepaper, a sample vendor ESG questionnaire, a modern slavery template, and a checklist to help extend your ESG program to your third parties. The ESG toolkit is available through the Third-Party Think Tank Library (ESG Tool Kit - Third Party ThinkTank)

    Good Luck, and let us know how it goes




  • 3.  RE: ESG - What is your company doing?

    This message was posted by a user wishing to remain anonymous
    Posted 09-20-2021 09:13 AM
    This message was posted by a user wishing to remain anonymous

    I have also recently introduced ESG to our organization and am currently looking at tailoring a framework based on following
    GRI- Global reporting Initiative
    TCFD -Task Force on on climate financial development
    SASB- Sustainability Accounting Standards Board
     
    At the moment my  main focus is on building awareness amongst leadership and managers and demonstrating to them how much of what they do today fits within  ESG  and the potential benefits that will accrue over time.