Transparency, a Growing Key Concern

In 2017, Blackrock’s Larry Fink – CEO to one of the largest investment companies in the world – sent ripples across the financial world when in his annual letter, he addressed the CEOs of their shareholdings as follows: “Environmental, social and governance (ESG) factors relevant to a company’s business can provide essential insights into management effectiveness and thus a company’s long-term prospects. We look to see that a company is attuned to the key factors that contribute to long-term growth: sustainability of the business model and its operations, attention to external and environmental factors that could impact the company, and recognition of the company’s role as a member of the communities in which it operates.”

As the financial world begins shifting into this new paradigm, it needs new toolsets for evaluating investments and measuring companies around the world operate in terms of these “ESG factors.”

The more colloquial term for ESG, “Transparency,” is arguably as accurate in describing these same factors. Yet it is also a term that gets thrown around far too often. Indeed, so often that we can quickly forget what it is actually referring to. Transparency is first and foremost about insight, clarity and honesty. Insight into what is happening within a business, clarity regarding its challenges and its strengths, and honesty towards stakeholders at large, to whom these insights matter most. Such stakeholders are not only limited to shareholders and executive management, but also staff, supply chain workers, government, civil society and many more.

How is the outdoor industry performing in comparison to other industries? Judge for yourself. At ISPO Munich, you will have the opportunity to meet pioneering companies who have taken a leap in good faith by choosing to be transparent and invite the public “into their home.” Go and pay them a visit– you are one of the stakeholders as well.

Pamela Ravasio, Head of CSR & Sustainability
European Outdoor Group

Pamela Ravasio
melanie.haas@norragency.com


More Stories

Time to substantiate green claims has come

2022 is the year when guidelines around communication of products sold in Europe are becoming a reality based on targets of the EU Green Deal. What does this actually mean?

By Anna Rodewald & Cira Riedel

Thinking Circular This Summer

Climate, pollution and biodiversity – the outdoor industry already has a lot to think about. Do we have time to focus on Circular Economy? Sustainability specialist Joel Svedlund makes the case that there’s simply no good reason not to.

By Joel Svedlund

Why You Should Be A Policy Maker

EOG’s Katy Stevens explains that while the world of policy making may seem like an impenetrable fortress, it is an incredibly important part of the outdoor industry.

By Katy Stevenes

One Label to Rule Them All?

RWS, RDS, GRS, GOTS, FWF, C2Ccertified, Oeko-tex, Bluesign and Climate Neutral? It’s a label jungle out there. Why not use just one eco-label?

By Joel Svedlund

More News