Who are the major ESG players within the chemical industry?

ESG players within the chemical industry

BCC's research library is expanding. We have taken all the feedback from our members, and our expert team of analysts is currently working on a series of reports that cover environmental, social, and governance topics. Our ESG category library will be a hub for businesses and investors to gain insights into how better to invest in industries ensuring their social and environmental goals align with their own. Our analysts’ comprehensive reports will look at the trends of a certain industry and assess their overall ESG indicators.

When assessing a company or industry using ESG research, factors relating to each component (environmental, social, governance) must be considered. Some examples of these considerations include:

  • How transparent the company is about its environmental impact.
  • Does the company unethically manufacture its products, if not, do they have a safeguarding strategy?
  • Is the company governed fairly?

BCC’s latest report focuses on the ESG trends in the chemical industry and evaluates the ESG implementation including current and future potential. This enables the reader to understand the industry in general while also providing insight into the inter-relationship between ESG and the sustainable chemical industry.

How is the chemical industry meeting ESG goals currently?

Several major problems are driving transformation in the chemical industry, most notably the growing relevance of environmental, social, and governance ESG challenges.

To succeed in the future economy, chemical businesses must handle ESG demands proactively. The industry is in an unusual situation, caught between increasingly stringent industry standards on the one hand and rising customer aspirations for sustainability on the other. As chemical providers strive to meet ESG goals, demand for more sustainable products is increasing. This influences the purchasing decisions of their customers, considering factors such as emission intensity, end-of-life recyclability, and ecological connectivity.

Who are the key ESG players from a chemical industry perspective?

ESG Professional Organizations:

CFA Institute

The need for experts in the industry has expanded as a result of the rising interest in green investment from ESG investors and venture capital companies. The CF Institute introduced its globally recognized Certificate in ESG Investing, setting a new standard for investors and industry professionals to analyze and incorporate ESG concerns into their day-to-day practices and operations. The certification process and course materials were developed by eminent practitioners and certified by the UN Principles for Responsible Investment (PRI) to provide depth and breadth of the ESG investing scope using both practical and theoretical methods.

IASE - The International Association for Sustainable Economy

A vital step for organizations looking to succeed and develop in the market is to commit to upholding ESG policies to adapt to the world's new sustainable approach. IASE, a nonprofit organization with headquarters in the United Kingdom, promotes sustainability and ESG education and implementation for all professions throughout the world through its standardized certifications.

Key Players Offering ESG Services:

SGS - Société Générale de Surveillance

SGS is the world's leading company for inspection, verification, testing, and certification services. SGS provides ESG certification services for various industries. The certificate is issued after a performance evaluation based on SGS standards and certifications in the environmental, social, and governance categories. SGS's expertise in compliance, verification, and training services is used by the company to develop specialized solutions that are specific to the needs of the client.

Bureau Veritas

This company is a global leader in providing services and cutting-edge solutions to make sure that its clients' assets, products, infrastructure, and business processes comply with quality, environmental protection, health and safety, and social responsibility standards and regulations. A wide variety of assurance and assessment services on governance, social issues, and environment (ESG) are offered by Bureau Veritas. By using this new set of solutions, which is a component of the V Green Line of solutions and services, the company will be able to evaluate the ESG maturity level by turning the audit findings into actionable aggregated ratings that can be viewed on a digital dashboard. It depends on a 4-step method: self-assessment questionnaires or field audits, systematic scoring, digital dashboard, and steering ESG strategy.

Intertek

Intertek offers an end-to-end Environmental, Social, and Governance (ESG) Data and Reporting program, giving you complete peace of mind on all aspects of the ESG journey and the ability to communicate with companies' stakeholders with confidence. This program is powered by a unique combination of sustainability, scientific, engineering, and auditing capabilities.

DEKRA

The company offers a wide range of services, including claims services, safety consultation, industrial and building inspections, testing and certification of products and systems, training programs, and temporary employment, all of which are backed by competent and impartial experts. DEKRA sees an opportunity in integrated approaches to managing the energy transition, for environmental, social, and governance (ESG) guidelines, and for the circular economy in the expanding field of sustainability. Services for analyzing and lowering a company's or a product's carbon footprint are just one example of them.

TÜV SÜD

The company is engaged in providing inspection, testing, and certification solutions globally. In terms of income, network, and the number of professionals it employs. TUV SUD is the biggest Technical Inspection Association in the world. As part of the Enterprise Sustainability Program (ESP), the Sustainability-as-a-Service program by TÜV SÜD PSB will support local companies in meeting customer and regulatory requirements through an online self-assessment, training, and certification approach. It will help raise awareness of new concepts and drive standards to fulfill their sustainability roadmap.

Why is ESG important for companies and investors?

There is a growing awareness that ESG certification and judgment may become mandatory practice in the near future. For companies to stay ahead of regulations, competition and unleash all benefits of ESG, they must integrate this framework throughout their business. From another perspective, organizations that fail to comply with ESG factors may end up struggling to deal with regulatory, legal, or reputation issues at a later stage.

Aside from the reputability of a company when utilizing ESG solutions, working towards a sustainable and ethical practice as a baseline will work towards a brighter, less polluted climate. ESG is a stepping stone towards ensuring industries, such as chemicals, are doing their due diligence in ensuring they are taking every step possible to be a sustainable company and provide a safe work environment.

Find out more about ESG trends in the chemical industry

BCC’s report on ESG trends in the chemical industry not only highlights the overall market outlook but looks at the environmental impact the chemical industry has made and continues to make. To download your complimentary report overview, click here.

Alternatively, you can purchase the single report or become a BCC member today. Whilst our team is busy curating a comprehensive ESG report library, we have a wide variety of related reports within our environment category which you can gain unlimited access to as a member. Get in touch today to discuss the many benefits of a BCC membership.

Become a member

Written by Katie Biddle on Nov 30, 2022 10:00:00 AM

Katie Biddle joined BCC Research as a junior copywriter in 2022 and works within the marketing team. Prior to BCC, she recently graduated with a BA in Creative Writing and English Literature from Westminster University.

Find me on:

Topics: Environment

Popular Posts