Lake City, Colo., Aug. 08, 2023 (GLOBE NEWSWIRE) -- Green Builder Media has chosen 10 companies to hold up as shining examples of ESG Excellence for its annual Eco-Leaders issue.
“ESG, which stands for Environmental, Social, and Governance, is a framework that is increasingly being adopted by various industries, including building,” explains Green Builder magazine’s Editor-in-Chief Matt Power. “It’s a set of standards for a company’s operations that socially conscious investors use to screen potential investments.”
ESG is becoming a business imperative to minimize risk, enhance long-term performance, and improve resiliency against market volatility and idiosyncratic events.
In the building industry, builders and manufacturers are beginning to take notice of ESG for many reasons:
• Investor and stakeholder demand for ESG initiatives is on the rise.
• This demand is causing a shift towards sustainable green building products.
• Companies adopting ESG principles are more attractive to investors.
• ESG adoption can unlock higher investment potential.
• The building industry is responsible for 39 percent of global greenhouse gas emissions.
• Adoption of green building practices and ESG principles is a response to reduce these emissions.
• The industry is aiming to decarbonize and move towards net zero emissions.
According to COGNITION Smart Data, Green Builder Media’s market intelligence division, consumer demand is also pulling ESG into the mainstream. A recent COGNITION survey of over 2,600 consumers across the U.S. shows that there is little doubt in the mind of respondents that ESG yields financial benefit:
- 70 percent believe that companies with a strong ESG focus are more likely to achieve long-term financial success than those without.
- 85 percent are more likely to do business with a company that has a strong ESG focus compared to one that does not.
- 50 percent believe that a company’s ESG practices has a significant impact on the quality of its products and services.
“The motivation behind adopting ESG principles is a mix of altruistic and profit-driven incentives,” Power says. “On one hand, there’s a stated desire to reduce environmental impact and improve social equity. On the other hand, companies see the business benefits of ESG adoption, such as increased investment opportunities and positive brand sentiment. Our Eco-Leaders this year embrace both of these philosophies.”
You can read about these pioneering ESG adopters on page 12 of the July-August issue of Green Builder magazine, which can be downloaded for free.
This year’s Eco-Leaders program was made possible by the generous support of LG/SKS, Sunnova, Rheem, and Trane Technologies.
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Cati O'Keefe Green Builder Media 513-532-0185 cati.okeefe@greenbuildermedia.com
