Companies must perform well in all areas of ESG; being a laggard in any one of the 12 pillars outlined in GlobalData’s ESG framework will hurt their brand reputation and, ultimately, profits.
It is easy to find examples of lackluster governance in construction but much harder to find exemplary case studies. Companies that perform poorly in environmental and social issues likely do so due to poor governance. Early engagement with all stakeholders, including suppliers, subcontractors, and local communities, is key to helping construction companies excel at ESG. Companies that understand and engage with ESG initiatives now and demonstrate their ability and willingness at the tender stage will win more contracts and turn more profits.