Blog by Roy Snell, Image “chat bot typing an article” generated by picfinder.ai
I asked ChatGPT for a paragraph on what an ESG program is. It gave me 3 paragraphs which means ChatGPT is more humanlike than we thought. However, what it said was brilliant. If you asked ESG experts what an ESG program is, I bet 50% of the experts would start by saying it’s all about investing. This is a very serious problem. How is it that ESG experts aren’t talking about ways to improve your company’s ESG effectiveness by implementing an ESG program that includes auditing, monitoring, tracking ESG data, developing policies, etc. I believe that ChatGPT is more effective than most ESG experts at answering some questions. Everything in this post that was generated in ChatGPT is in italics. As I read the answer that it generated, I actually felt a twinge of inadequacy.
An ESG (Environmental, Social, and Governance) program is a framework for evaluating and managing the non-financial risks and opportunities that can impact the long-term performance and sustainability of a company. An effective ESG program typically includes policies, procedures, and reporting mechanisms that address a range of environmental, social, and governance factors, such as climate change, human rights, diversity and inclusion, supply chain management, and corporate governance.
An ESG program can help a company to identify and mitigate risks, enhance its reputation and brand, attract and retain investors, and improve overall performance. By taking a proactive approach to managing ESG factors, companies can demonstrate their commitment to sustainability and social responsibility, which can help to build trust with stakeholders and contribute to long-term success.
An ESG program may include a variety of activities, such as conducting environmental impact assessments, establishing diversity and inclusion policies, tracking supply chain performance, and implementing robust corporate governance mechanisms. The specific components of an ESG program will depend on the nature of the business, the industry, and the company’s goals and priorities. The overall goal of an ESG program is to promote sustainable business practices and generate positive social and environmental outcomes, while also creating value for shareholders and other stakeholders.
If you haven’t tried ChatGPT I would check it out at chat.openai.com. I haven’t seen anything like this since the spreadsheet was invented