The recording for the recent webinar from our ESG committee is now available in the Members Resources Section.

A Few Takeaways:

1. Mandatory ESG Reporting: Organizations globally are increasingly required to report on their ESG activities, aligned with the 17 UN Sustainable Development Goals and various global reporting standards like GRI and ISSB. The EU mandates such reporting, with APAC following soon.
2. Greenhouse Gas Emission Targets: Many multinational companies are setting ambitious greenhouse gas emission targets according to the Science-Based Targets Initiative, with net-zero goals by 2050 and some aiming for 2030.
3. Impact on Global Mobility: ESG criteria significantly impact global mobility, focusing on gender equality, climate action, and energy and water consumption. Environmental criteria emphasize greenhouse gas emissions social criteria cover aspects like gender pay ratio and diversity, and governance criteria include incentivized pay and anti-corruption measures.
4. Scopes of Emissions: Companies must understand and report on three scopes of greenhouse gas emissions:
   • Scope 1: Direct emissions from company-controlled sources.
   • Scope 2: Indirect emissions from purchased energy.
   • Scope 3: Other indirect emissions, including supply chain and business travel.
5. Growing Focus on Scope 3 Emissions: There is an increasing requirement to report Scope 3 emissions, necessitating preparedness in internal processes and vendor collaboration.
6. Carbon Offsets: These play a significant role in achieving net-zero targets, with costs expected to rise significantly. Companies should integrate carbon offset costs into relocation budgets.
7. Sustainable Mobility Practices: Virtual assignments, discard and donate programs, and using low-emission vehicles can reduce the carbon footprint of relocations. Companies are encouraged to set carbon limits and choose sustainable vendors.
8. Local Talent Sourcing: It is more sustainable to source talent locally or regionally rather than relocating individuals, reducing the carbon impact of frequent travel.
9. Equity and Compliance: Ensuring roles are accessible to diverse talent populations, providing necessary cultural training, and complying with local labor laws and right-to-work regulations are essential.
10. Social Development: Global mobility can support social development by hiring displaced talent or building local teams in developing regions.
11. Stakeholder Engagement: Engaging stakeholders, measuring data, and setting realistic targets are crucial for achieving sustainability goals.
12. Leadership and Accountability: A sustainability champion should lead ESG initiatives, develop a roadmap, and communicate the strategy effectively.
13. Policy Review and Quick Wins: Reviewing and revising existing policies, such as developing a green move policy and implementing quick policy wins, can make a significant impact.
14. Educational and Incentive Programs: Providing CO2 data education, green services, public transport allowances, and incentivizing sustainable decisions among employees are important.
15. Comprehensive Data Collection: Collecting and analyzing data from vendors and stakeholders helps set baselines and measure progress toward sustainability targets.