Corporate sustainability (also known as ESG) is becoming the new norm. Increasingly companies are identifying ways how to become more sustainable within their own organisations and throughout their supply chains.
ESG is no longer confined to conference rooms as companies are increasingly incorporating ESG risk management strategies into their day-to-day activities, as demonstrated through the latest AmCham Estonia’s workshop.
On the 19th of May, AmCham Estonia in cooperation with COBALT law firm hosted a morning workshop to bring more clarity to what these three letters – E, S and G– really mean in practice.
Mervet Kägu, the Head of ESG at Cobalt, introduced the concept of ESG from a legal perspective by going through the key due diligence and reporting requirements.
‘’ESG is not just another marketing buzzword. It is a strategy to ensure corporate resilience, which is directly linked to the financial performance of an entity. European Union has undoubtedly taken a global lead on this topic, demonstrated by the numerous legal requirements that companies should start preparing already today’’,- stated Mervet..
Chris Ellermaa, the Communication and Public Partnership Lead at Roche, gave a whirlwind overview of Roche’s ESG journey and how they are cultivating the ‘think global and act local‘ mentality in every country Roche operates in.
‘’Sustainability is one of the cornerstones of the Roche Group’s strategy, Roche’s activities are guided in accordance with the United Nations Sustainable Development Goals. As a partner in the healthcare sector Roche Estonia provides innovative diagnostics and treatment solutions to help patients’ live longer and better. Our biggest impact in ESG is related to society and the social environment. Roche Estonia contributes with activities to Estonia’s National Health Plan 2020-30 by public-private partnership projects, evidence-based innovative approaches, reducing health inequalities, increasing human centricity and health literacy.’’, comments Chris.
The representatives of PERH, Terje Peetso, Member of the Management Board, and Andra Migur, Head of Risk, talked about how they are measuring their carbon footprint. Which was 34 453 t CO2 during 2021. Including measuring and managing scope 1 and 2 emissions, PERH is the very first hospital in the world that has measured its scope 3 emissions. Additionally, they are actively looking into sustainable procurement practices.
“Directly and indirectly we all contribute to achieving the sustainable development goals. In the North Estonia Medical Centre Strategy Plan 2022-2032, the sustainable development strategy is one of the six strategies which at the same time has an impact on other five, but equally gets an input from the rest. We are happy to share our experience and learn from others as it is a good example of a shared task.’’ – comments Terje.
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Did you know that?
- With reducing screensaver run-times to 15 minutes on Windows, Roche managed to save almost 1 Mio KWh per year, which is equal to powering around 411 Swiss households?
- PERH is the first hospital in the world to measure and manage its scope 3 emissions?
- According to London School of Economics and Columbia Law School, there have been 1, 957 registered cases of climate change litigation brought globally between 1986 and today.
- Studies show that the number of ESG reporting provisions issued by governmental bodies has grown 74% over the last four years.
- PERH, Roche Estonia and Cobalt have all undergone the Responsible Business Index ESG audits.
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We sincerely thank COBALT Law Firm for hosting the event and driving the discussion. Our special THANK YOU also goes to Roche, PERH and all workshop participants for their active position and involvement. Also, a special shout out to Coca-Cola HBC and Darja Saar for the idea and for the drinks provided for the event!