Is ESG an Acronym that people fear?

Is ESG an Acronym that people fear?

A recent article in Forbes Magazine has focussed on the relevance of ESG (Economic, Social & Governance) in todays marketplace. The Associate Professor of Strategy, Ioannis Ioannou at the London Business School is challenging the concept of how relevant it is in todays shifting marketplace. Whilst some may argue that it is and has always been a bottom line exercise, others believe that it is a necessary exercise for the betterment of the planet. In summary, it is something that we must engage in as part of our overall strategy, yet, know that it doesn’t always have to be a justifiable bottom line exercise.

A Sustainable System

A sustainable healthcare system improves overall public health by minimising pollution, improving air quality, and reducing exposure to hazardous materials. Air pollution and toxic waste contribute to respiratory and cardiovascular diseases. By adopting sustainable practices, Ireland can address health challenges linked to environmental degradation, improving population health and reducing the strain on services. Ireland, as a member of the European Union, has committed to sustainability goals, including the European Green Deal. The healthcare sector plays a crucial role in helping Ireland achieve these targets, by reducing GHGs and promoting the circular economy. Healthcare can demonstrate leadership in circularity lifecycle by reviewing products and services as a system for reusability. Extend producer responsibility and challenge suppliers to take it back, so we can reuse, recycle.

Carbon Reduction

As a link between the manufacturers of medical products and the end users, we must integrate climate resilience into our business strategies, conducting risk assessments and planning for the future to safeguard against disruptions that may effect our supply chains and infrastructure. By prioritising proactive resilience planning, we can mitigate risks and enhance our capacity to withstand future storms. The time for action is now. Building a climate-resilient business is essential not only for our survival but for ensuring long-term success in an increasingly unpredictable world. To this end we are adopting a forward thinking strategy that will focus on our approach to reducing our own carbon footprint.

Achieving Net Zero

It is undeniable that climate change is happening and creating dire consequences for the planet. The risks associated with climate change have direct and indirect impacts on the environment, human populations, society and global security. To help mitigate against this risk from an Irish perspective and play a role in reducing national carbon emissions, the Irish government released the National Climate Action Plan. This report sets out a roadmap to guide the country to a more sustainable future and to make an attempt to tackle global warming. One main goal is to halve greenhouse gas emissions by 2030 and to reach zero emissions by 2050. The Climate Action Plan not only aims to play a role in protecting the planet but simultaneously creating economic opportunities. A greener economy and society is one in which benefits all and will secure a future for generations to come.

At Irish Hospital Supplies, we always endeavor to champion the benefits of sustainability practices within the organisation and in each and every supplier and customer engagement.