Entrepreneurship Panel & Social Value Leadership Group – Growth Tech Event
17th October 2023 from 5:30pm — 6:30pm • Virtual (Zoom)
The Criticality of a Robust Environmental Social Governance (ESG) Strategy
The Entrepreneurship Panel is delighted to present a unique virtual event in collaboration with the Social Value Leadership Group, a presentation on the critical necessity for strong ESG credentials enabling every business to be successful via Social Value Capability Improvement Model (SVCIM) from the WCIT.
The most relevant consideration for choosing an ESG framework should be consistent, readily available, and easily interpreted ESG metrics that measure the impact of capital allocation choices on the natural and social ecosystem. “ESG” and “Social Value” are broader catalysts for social transformation. Many leading social values also consider community health, well-being, resilience, and regeneration.
The emergence of covid-19 introduces new dimensions to what ESG and Social Values mean in the context of new priorities. ESG frameworks are utilised to define and describe the non-financial outcomes that a firm aims to achieve. For firms to demonstrate their other objectives beyond profit, they must reconsider the kinds of impact they want to have on their employees, customers, suppliers, and the wider community. A framework that measures and reports these Social Values to serve its purpose must measure these social values against the pledges and actions of the firm to do good.
For technology companies, stakeholders will likely start evaluating their Post Covid-19 reaction and performance using ESG criteria. The Worshipful Company of Information Technologists (WCIT), through its Social Value Leadership Group, developed the WCIT SVCIM to allow firms to qualitatively assess their current `Social Value’ capabilities and where they want to be in the future to deliver net positive social value. SVCIM is particularly suitable for the small and medium enterprises (SMEs) and it requires less resource to use the model. This is a self-assessment tool and will help SMEs to assess their current capabilities and identify actions to improve their social value contributions in the future.
The model captures a firm’s capability using eight dimensions: Environment, Employment, Community, Education, Governance, Supply chain, Well-being, and Diversity. These dimensions are measured using metrics with examples of activities suitable to satisfy each specific metric in each dimension. SVCIM comes with a five-step process to apply the model within a firm or within a large project.
As an Entrepreneur leading your business, we believe this is an opportunity for you to consider how to maximise your businesses ESG credentials
The online forum will allow you the opportunity to take part in the open discussion following the presentation and consider how you may be able to utilise the approach being proposed.
Professor Rajkumar Roy, Chair Social Value Leadership Group
Freeman of WCIT and is the Executive Dean for the School of Science & Technology at City, University of London. He is working with industry to develop social value measurement techniques. He started his career as an engineer at Tata Motors; pioneered research in Through-life Engineering Services (TES) with Rolls-Royce, BAE Systems, Bombardier Transportation, the Ministry of Defence and Babcock International; and established an internationally known TES Centre. Professor Roy’s cost engineering and obsolescence research has transformed contemporary understanding of the engineering effort required to design, make, and support high-value products, resulting in tools used by BAE Systems, Airbus, the Ministry of Defence, Rolls-Royce, and Ford Motor Company. He is a Founding Editor-in-Chief of the Elsevier Applied Soft Computing journal and a Fellow of the CIRP (International Academy for Production Engineers), the Institute of Engineering Designers (IED), and the Higher Education Academy (HEA). He promotes co-creation of wealth & social value through technology
The Zoom link will be sent closer to the date.