Importance of ESG values and sustainability initiatives on employee wellbeing confirmed by Knight Frank poll in the lead up to R U OK? Day

The importance of workplaces having an ESG framework for employee wellbeing has been confirmed by a recent poll conducted by Knight Frank.

The poll, conducted in the two weeks leading up to R U OK? Day, found that in answer to the question ‘How important is it to you for your workplace to have well defined ESG values and sustainability initiatives in place’, 64% of respondents indicated it was a major consideration.

Just 24% indicated it was not a consideration, while 12% were indifferent.

Knight Frank Chief People Office Kristin Hay said employees had placed greater emphasis on workplaces and employers having an ESG framework for many years, and the trend was here to stay.

“We have known for some time that ESG and sustainability has been of growing importance in many sectors, and this includes for employees,” she said.

“There has been substantial data over the years to show that employees at companies with strong corporate responsibility efforts and a focus on sustainability are significantly more likely to enjoy where they work.

“Not only does it increase their happiness, but it also impacts retention levels, as happy employees are more likely to stay put.

“On a day like R U OK? Day, where the wellbeing of employees will be even more under the microscope, it’s important for businesses to review their commitment to ESG and sustainability initiatives.

“We know that employee wellbeing is improved through these initiatives, so businesses should be putting a framework in place if they don’t have one already, or examining where they can improve if they do.”

Knight Frank Head of ESG Jenine Cranston said there were a range of ESG and sustainability initiatives workplaces and businesses could implement.

“These include actioning a net zero strategy, developing an organisational strategy, embedding circular practices and capturing and reporting on sustainability data.

“At a Knight Frank event this week attendees, including REITs, developers, property managers, investment and asset management firms, and financial institutions, indicated access to sustainability data was the number one focus area for ESG currently.

“Developing an organisational strategy and achieving net zero were also high on the list of priorities.

“Sustainability reporting platforms, including Knight Frank’s Verdig platform, is a great way to get access to sustainability data, and a good place to start for those looking to take action on ESG.”

Verdig is a full data management solution that comes with support from Knight Frank’s ESG specialists.

It is an easy to use, convenient storage of energy, water and waste data , with proven capability to manage data risk and perform at scale.

Verdig includes user-friendly reports, with the software producing audit-ready data suitable for mandatory sustainability reporting.

Knight Frank has its own global ESG framework, which is divided into three areas for action, including:

• Strengthening our communities, by understanding their needs and addressing local challenges through corporate investment and partnerships

• Restoring the natural environment, by reducing carbon emissions, helping restore nature and advocating for climate resilience

• Creating inclusive workplaces, by being an inclusive business where everyone’s potential is unlocked and difference is celebrated and valued