Sustainability and ESG strategies
Corporate sustainability efforts are fast transitioning from voluntary to mandatory and are now under even greater scrutiny.
At Ricardo, our aim is to support your organisation’s long-term success and value creation by providing expertise to help you plan, implement and report against robust and credible ESG and sustainability strategies.
Expert advice that creates value and avoids risks
Expert ESG and sustainability advice to support your business in creating long-term value and business resilience no matter where you are on your ESG and sustainability journey.
Ricardo’s ESG diagnostic tool provides a snapshot of where your company currently stands based on your environmental, social and governance (ESG) practices. During the diagnostic session, we will take your organisation through a series of questions to identify current practices that impact your ESG credentials.
This useful discovery session will help you to understand your business’s position with regard to ESG. It will help you to identify high-level potential risk ‘hot spots’ and improvement opportunities as well as understand where you are already implementing good or best practice.
Stakeholder mapping is the process of identifying all relevant individuals or groups with a vested interest in your business or project. By creating a stakeholder map, we will help you to clearly visualise all your stakeholders and prioritise who you need to engage with. A stakeholder map is a key part of your ESG strategy because it helps to clarify stakeholder interests which form the basis of a materiality assessment and ultimately identify opportunities and/or any risks at an early stage.
Materiality assessments are a key method to enable prioritisation and reporting on the environmental, social and governance topics which are most important to your business operations as well as your peers and stakeholders.
Ricardo offers both singular and double materiality assessments in line with the reporting frameworks of GRI, SASB, TCFD and the CSRD EFRAG for double materiality. Singular materiality assessments consider ESG factors that influence the financial value of a business whereas double materiality assessments also consider how an organisation impacts the environment and society.
Through workshops and stakeholder engagement, Ricardo will work with you to determine where your business can and should aim with regard to your sustainability and ESG strategies.
Based on your organisation's overall vision, Ricardo’s experts will explore with you the ambitions required to back up that vision. After deciding on ambitions, Ricardo will work with you to determine which targets your organisation can set to best achieve this and achieve your overall vision. Ricardo will also work with you to determine which KPIs you should use to measure progress against targets.
Through a strong understanding of ESG business opportunities and gaps (identified through the ESG diagnostic tool and materiality assessments), Ricardo can help you to develop a unique and tailored strategic roadmap. The roadmap is an action-orientated plan for businesses and organisations to achieve their ESG goals as they begin or continue their sustainability journey.
Beyond transparency and reporting, a truly sustainable organisation is one that can demonstrate how they have integrated ESG into their business strategies to enhance performance and build resilience across their full value chain. Ricardo’s broad technical expertise will support your push towards operational excellence, integrating sustainability risks and opportunities into enterprise risk management processes, and/or the process for the selection of suppliers.
Our team will work with you as a trusted partner to incorporate environmental and social aspects into your innovation and commerical portfolio through Sustainable Portfolio Assessment (SPA). Our experts can provide insight and analysis on the complex and ever-changing sustainability-related regulatory, technology and market developments through short-, medium- or long-term scenario analysis and competitive research.
The reporting landscape is complex and constantly changing but Ricardo’s team of ESG experts can guide organisations through the ESG reporting process helping to minimise risk and maximise opportunities. We can support you to understand changes in legislation and regulations that could affect your business operations.
Our experts can provide expert advice on voluntary ESG reporting frameworks such as the Global Reporting Initiative (GRI) or the Sustainability Accounting Standards Board (SASB) and which approaches would best suit your organisation. Our team can also support you to integrate ESG reporting into your annual report or to create a standalone sustainability or ESG report demonstrating your overall vision, goals and progress to investors, suppliers, customers, employees and other stakeholders.
This service is offered within the following sectors.
Sustainability and ESG strategies Resources
How to develop an effective sustainability strategy – 7 recommendations from leading practitionersRead blog
Why is environmental, social and corporate governance (ESG) reporting important?Read blog
How to maximise opportunities (and avoid risk) in the ever-changing ESG reporting landscapeRead blog
Doubling up: why materiality matters and double materiality is the essential next stepRead blog
Start the conversation
No matter where you are on your sustainability journey, we can help you to assess how far you've come, which direction you should take and what your next steps should be. Get in touch to organise an ESG diagnostic call or to find out more about how Ricardo can support your organisation.