Telling your ESG story
Introduction
ESG in 2024
In their own right, the three areas of Environmental, Social and Governance (ESG) aren’t new but in 2024 the lines are becoming increasingly blurred.
Environmental
– A company’s sustainability efforts and its overall impact on the environment.
Social
– The ethical impact a company has on its employees, suppliers, customers and the community, and the types of relationships it sustains.
Governance
– Internal and external practices and regulations a company implements to operate effectively and meet the needs of its stakeholders.
For B2B companies that can tell a cohesive and authentic ESG story, there are greater opportunities for success and engagement.
ESG in 2024
A year of shifting challenges and targets
The importance of ESG remains high for businesses this year, despite challenging factors caused by economic uncertainty and global conflict.
Climate change remains a significant concern, but events like the wars in the Ukraine and the Middle East, and supply chain disruptions have led many companies to re-evaluate their ESG strategies. Despite these challenges, many companies still have targets to achieve net zero emissions. Companies are also facing increased scrutiny around their corporate cultures in a post-pandemic world and way of working. The prospects of a recession and rising cost of living adds to the pressure on organisations to make difficult decisions around cost cutting and layoffs. Governments worldwide are also taking action to address ESG issues; introducing regulations to prevent green washing and hold companies accountable for their actions. Now, even if companies are facing economic challenges, they will still need to consider their ESG performance and how to meet stakeholder expectations.
ESG & Storytelling
The secret to successful ESG communication.
Effective storytelling is essential when it comes to promoting ESG initiatives within companies and society as a whole. The right story has the power to inspire people to take action, as well as the ability to prevent negative change from happening.
But before people can act, they need to care, and effective storytelling is a great way to ignite that spark.
However, many B2B organisations struggle to communicate their ESG efforts effectively. Some are just starting their ESG journeys and don’t know where to begin. Others have been working on ESG for some time but are facing difficulties crafting the right messages. And there are still some that shy away from communicating their ESG efforts altogether.
Communicating your ESG activity can be overwhelming, especially in today’s world where misinformation, polarisation, and oversimplification are prevalent. However, it’s important to find a way. A compelling story can help you connect with your audience, build trust, and inspire people to work towards a more sustainable future.
5 top tips to tell your ESG story
1: Find your “ESG North Star”
Before telling your story, you need to define it
When it comes to ESG, it’s not just about checking a box, but actively trying to have a positive impact and create change.
To make ESG truly effective, you need to integrate it into your overall strategy by defining, implementing, and refining a portfolio of initiatives that align with the core of what you do.
It’s important to mobilize your workforce around a strong sense of purpose. Try to focus on one area and do it well. Be authentic, align with your brand and be the solution you wish to see. Ask yourself: what does your company bring to society that others can’t?
By identifying this “ESG North Star”, you can better navigate through the process of making sustainable decisions, impactful changes and telling your story effectively.
Ask yourself: What does your company bring to society that no others can?
2: Lead with the integrity of purpose
Customers and employees can spot inauthentic brands
One way to help connect customers to your ESG activity is by leading with integrity and purpose. Being transparent about your brand’s commitment to doing good and holding yourself accountable is non-negotiable.
Purpose and integrity go hand in hand, they are essential elements that reinforce one another in decision-making and actions. They give people a reason to believe in your brand’s sincerity and efforts.
It’s not just about finding the perfect words to market your brand, it’s about being confident in what you do, why it matters, and how it makes a real difference in people’s lives.
When it comes to telling your brand’s ESG story, be sure to focus on presence rather than performance. It’s all about being authentic and connected to your brand’s purpose.
It’s not just words, it’s about:
- Being confident in what you do
- Why it matters
- How it makes a real difference in people’s lives.
An authentic story that’s driving global change
The use of AI in financial services has caused a problem with algorithmic bias and discrimination against certain demographics.
To address this issue, Finastra, a global fintech solutions company, partnered with Silver to tell this story, raise awareness and find a solution.
The campaign, OPEN by {Default}, engaged with people in the financial industry and inspired them to take action. A multi-channel strategy was implemented, including PR, partner marketing, direct marketing, virtual hackathons and social media.
By leading with integrity and purpose, the campaign was a global success, with over 600 registrations for hackathons from 50+ countries, including Antarctica, and 80% of the projects were led by women.
3: Future-proof your message
Tell a story that has longevity
Having a consistent ESG message that can be recognised and remembered is crucial for building trust and credibility. It gives your customers a clear idea of what you stand for and how you operate which is crucial for building strong, long-lasting relationships.
B2B companies need to recognise the permanency of their ESG campaigns and to be relentless in their efforts to promote them. However, it’s also important to be selective in where and how you promote your messages.
The goal is to reach the right audience and make a lasting impact.
By future-proofing your ESG messages and telling a story that will last, you can establish yourselves as leaders in your industry for years to come.
Be selective in where and how you promote your messages.
4: Get to the point
Make your story crystal clear
It’s essential for B2B businesses to be clear and concise when telling their ESG stories. Getting straight to the point plays a big part in effectively communicating your message and commitment to the cause.
Your audience needs to quickly understand your ESG goals and story without having to second-guess or interpret your message, so make sure you avoid jargon and unnecessary language. Instead, be direct, clear and confident in your communication.
Transparency is also vital when telling your ESG story. It won’t take long for your audience to check to see if what you’re stating is true. Avoid smoke and mirrors. Be upfront and honest about your actions and progress.
Providing data and evidence can help to support your message and demonstrate the progress you’re making towards your ESG goals. Numbers and facts are hard to argue with and make a strong case for the impact of your actions.
5: Embrace creativity
A creative strategy and execution turns heads and activates an audience
Having a creative strategy and execution when telling your ESG story can have a big impact on how your customers engage with it.
The first step is understanding who you’re trying to reach and what action you want them to take as a result of hearing your story. This will help you tailor your message and approach to best resonate with your audience.
You also need to consider the type of story you want to tell. Is it educational? Inspiring? Knowing the purpose of your story will help you identify the most effective ways to tell it.
Being creative in your approach is a key element in engaging your audience and making your story stand out. This can be done through visual storytelling, interactive content, or even a well put-together landing page.
By thinking differently and finding new ways to communicate your ESG story, you can capture the attention of your audience and inspire them to take action.
Define your story
- Is it educational?
- Is it inspiring?
Knowing the purpose of your story will help you identify the most effective ways to tell it.
We’re ready to help tell your ESG story
If there’s one thing Silver is proud to do, it’s drive success for our clients.
If there’s one thing Silver loves to do, it’s to tell our clients’ stories to the world.
Our team has a deep understanding of the challenges and opportunities presented by this ever-evolving B2B landscape. Leveraging clear, data-driven strategies and inspired creative storytelling, we can help you create an engaging digital experience that helps you connect with prospects and sell your brand with a narrative that works with you.