The Environmental, Social, and Governance movement

In 2016, the United Nations’ Sustainable Development Goals (SDGs) were released.

These 17 ‘Global Goals’, together with 169 varying targets, provide a common framework for all sectors of society to work within to achieve a world without extreme poverty, inequality, and climate change by 2030.

The Committee of Parties (COP27) has just finished, with leaders yet again facing a monumental challenge in addressing climate change. Broadly there are two climate change crosscurrents that are confronting public and private institutions: i) decarbonisation and ii) the environmental, social, and governance (ESG) movement.

Businesses have a corporate social responsibility and meeting the ESG goals creates value. We are now seeing change in business models, with customers willing to pay more for sustainable products and services.

Investors and consumers are looking at a wide range of corporations’ actions that are not tied to financial indicators or captured in a company’s asset and liability statement, yet play a large part in the financial performance of the business:

• How companies are contributing to climate change
• How they are reducing energy remission and water usage
• How they are increasing diversity and inclusion within the business
• How they are giving back to the community.

There is not one sector or organisation alone that will be able to implement the scale of change that is needed but as a community of stakeholders, businesses, and individuals we can achieve success.

So how is PKF getting onboard?

PKF has partnered with Parvate Collective to understand what ESG is and embed it into our culture, which can then enable us to get our client base on board.

A group of us from the Sydney office recently attended a Diwali fundraising ball run by The Equanimity Project, a charitable organisation that supports, educates, and assists victims of domestic violence. A great example of the type of organisation PKF enjoys partnering with, The Equanimity Project meets over 50% of the UN’s SDG’s. Each goal, short or long term, has a positive effect on Australian society.

Watch this Space! – PKF has recently undertaken a new engagement to work with a new charity whose mission is to “do good, and help companies do good and do better”. The DuGood Foundation is developing a marketplace matching volunteers, charities, and employers to one off and ongoing volunteer tasks and campaigns.

Organisations such as PKF will be able to partner with DuGood Foundation in supporting the community via donations and staff volunteering, aligning our values, passions, and non-financial KPI’s whilst addressing our corporate social responsibilities.

If you would like to hear more about the community work undertaken by PKF or any of the charities mentioned above visit our website or get in touch with a member of the team.