The King is dead. Long live the King
Let us change these immortal words.
ESG is dead. Long live Impact.
When a king dies, a new King who is in line becomes King. This new King is younger and brings fresh ideas and approaches.
It is clear that Elon Musk has shaken things up.
I wrote an interesting thought piece that clearly sees Musk driving the agenda of upgrading ESG into Impact. https://www.persofi.com/post/the-tesla-s-p-esg-500-index-controversy
Similar, to in the children's book “the emperor has no clothes”, Musk and together with the stupidity of the S&P has exposed the shortcomings of ESG and ESG ratings.
This is further fuelled by the actions of Black Rock, and even our beloved Berkshire Hathaway by their continued investment in the enemy - Fossil Fuels.
Do not get me wrong I am an ESG enthusiastic. It is the best thing to happen to business since sliced bread.
I am promoting ESG and as a CFO - ESG measurement or ESG accounting.
My big spark for embracing ESG is Sir Ronald Cohen, the father of Impact. His calling is - You can not change what you do not measure.
And that is why ESG Measurement or ESG Accounting is so important.
Sir Ronald gave extremely high scores to the 2021 Tesla impact Report.
I urge you to read that Report or at least my blog on this.
This report is the best ESG report I have read. Brutally honest. It does not shy away from the failings, and challenges of ESG.
It is a cry for our beloved country. Our beloved world.
So, what is going on here?
If the report is so good, why the outcry and controversy?
These are birth pains. ESG is an earthquake for Capitalism and the way we have done business since antiquity.
ESG contradicts business and demands an Accounting not only for profits but Impact.
It is hard for the leopard to change its spots.
Our friend Elon Musk is trying to do this.
Firstly, saying that ESG, as it is today, is not perfect.
Secondly, by calling the establishment to trial. No more hypocrisy, Greenwashing, false ratings.
As a fellow South African, we share a trait to be real. What we Jews call a mensch. Do the right thing - do good - be good.
It is now time to do good. And that is to upgrade ESG into Impact and create value and prosperity for a fairer world.
ESG3.0 provides an opportunity for your company to upgrade ESG to Impact.
1. ESG support for CFOs and Directors
2. Provision on Non-Executive ESG Director service
3. ESG3.0 - Digital ESG Tool Kit
4. Impact Strategies for sustainable finance/Investment
ESG3.0 is a breakthrough approach to ESG that incorporates a digital data-driven approach to data collection, management, and reporting, and Energy Reduction. The approach is both a Digital and Consultancy offering for companies providing a holistic next generation, strategy, data-driven, tech-based ESG solution, with lower costs and more practical than the larger consulting firms. It is provided together with leading ESG service providers who have decades of subject matter experience – resulting in ESG Accounting, ESG Measurement, ESG reporting and improved accuracy and transparency of your company's ESG rating.
We invite you to find out how we can help you in your sustainability and impact journey.
ESG Accounting | Carbon Accounting | ESG Measurement | ESG Rating |Net Zero | CO2 Reduction | ESG Reporting I Sustainable Finance |Upgrade ESG to Impact