Economies around the world are changing their approach towards the environment and the society, ensuring that those operating within them are managing and reducing their impact on the environment and societies.

​

This includes those who import goods to these economies, where certain economic instruments such as taxes and tariffs will be imposed on goods considered to have an impact on the environment and the society. In many places, the governance practices of businesses are also considered, with a high intolerance towards corruption and bribery.

Given these new requirements, businesses must comply with them to ensure they can continue doing business.

​

Among the steps a business may take towards compliance are:

• Identify their baseline in terms of their impact on the environment and the society they operate in and their governance practices. This provides businesses with a snapshot of where they are at

​​

• Identify priority areas to focus on and develop feasible targets for each of those areas. This is the area that is more of an art than science. Nevertheless, it is important to set science-based targets as these are the information that stakeholders would need to evaluate a business’s initiatives. Those areas where a quantitative target was not set, a qualitative one can be set

​​

• Develop and execute programs to meet those targets. The results of those programs are then measured, analysed and reported

Objectives