Environmental, social, and governance impact metrics, commonly referred to as ESG, are nothing new – the term was coined in 2005 – but their popularity has multiplied in the past several years.
Ninety percent of S&P 500 companies and 70 percent of Russell 1000 companies published ESG reports in 2022, and 84 percent of business leaders say stakeholders have higher expectations for ESG reporting.
This is especially true for manufacturing companies because, as a whole, the industry is responsible for one-fifth of global emissions while consuming 54 percent of the world’s energy. When coupled with the fact that the construction industry accounts for 40 percent of annual CO2 emissions, new manufacturing facility construction and existing facility renovations are obvious places to improve efficiency and elevate ESG outcomes.
