Global Sustainable Enterprise System (GSES) Introduces Holistic ESG Framework with Third-Party Verification
Karin Hagen-Gierer, Head of Global Procurement, Sandoz shared insights on the progression ESG in Times of Risk and Inflation. In a move to enhance transparency and credibility in assessing the sustainability and societal impact of investments, the Global Sustainable Enterprise System (GSES) has unveiled its latest definition of Environmental, Social, and Governance (ESG) factors.
According to GSES, ESG now refers to “the three central factors in measuring the sustainability and societal impact of an investment in a company or business.” These factors encompass the environmental impact and stewardship of the company (E), its role in society and relationships with employees, suppliers, customers, and communities where it operates (S), and the quality of its governance practices, including leadership, executive pay, audits, internal controls, and shareholder rights (G).
Recognizing the multifaceted nature of ESG and the challenges in validating data, GSES has introduced a holistic and globally recognized standard. This framework serves as a useful starting point for organizations seeking to ensure their ESG data is comprehensive, relevant, and credible.
Effectively embedding ESG principles into procurement and the wider organizational framework is a dynamic process that demands precise strategizing and execution. At the outset, finding the right definition of ESG—tailored to the unique needs and context of your industry and products—is a crucial determinant of your ESG journey. This understanding underpins all subsequent steps and decisions.
GSES is not only a platform for businesses but also includes a global network of independent auditors dedicated to verifying the sustainability data and performance claims of these companies. Through this third-party verification process, GSES aims to bolster trust among stakeholders by ensuring the credibility and reliability of ESG data.
With the increasing focus on sustainability and responsible investing, alignment with recognized ESG frameworks like the one proposed by GSES becomes crucial for organizations looking to meet investor demands and enhance their reputation in the market.
By adopting GSES’s comprehensive ESG standards and engaging in third-party verification, companies can strengthen their commitment to sustainability and social responsibility, creating a positive impact on the global community and reinforcing investor confidence.
Investors, businesses, and communities are encouraged to explore GSES’s holistic approach to ESG and leverage the platform’s resources to contribute to a more sustainable and equitable future.
The Global Sustainable Enterprise System (GSES) is a leading organization providing a comprehensive framework for measuring and promoting sustainability and societal impact in businesses worldwide. With a network of independent auditors and a robust verification process, GSES ensures the credibility and reliability of ESG data, promoting responsible investing and sustainable practices across industries.