‘ESG’ refers to the environment, society, and governance, which are non-financial elements of a company. You could say it’s about progress. The process by which something is maintained at a certain level or the ability to maintain a state. Here, something means maintaining ecological balance without compromising the quality of life today. It began in 1987 with a report by the World Commission on Environment and Development (WCED), which aimed to pass on an unspoiled earth to future generations while meeting the needs of the present. Sustainable management, a management paradigm that pursues sustainable development by reflecting economic, social, and environmental philosophies, has emerged and is becoming the standard of living.

In the past, if each value such as eco-friendliness, organic farming, good company, animal welfare, and local community were considered, now all these concepts can be seen as integrated within the word ‘sustainability.’ At the 2015 UN General Assembly, starting from the Sustainable Development Goals (SDGs), an agenda set to be achieved, the world is striving to achieve sustainable goals in five areas: people, earth, prosperity, peace, and partnership. In the future, we will bring sustainable change and positive impact from the world to governments, from governments to companies, and from companies to individuals.

Why ESG Management is Important

Environment (Climate Crisis)

The word ESG, coined in 2006, has become an issue in the last 1-2 years. Why? The biggest reason is the climate crisis. Now, the term climate crisis is more appropriate than climate change. As the average temperature of the earth gradually rises, various disasters are occurring. Greenhouse gases such as carbon dioxide and methane cover the earth, causing global warming in which solar energy cannot escape. Glaciers are melting, countries are submerged in sea water, and large typhoons often come differently from previous routes. Tsunamis, heavy rain, desertification, frequent fires, etc. have already risen by 1 degree, so we have to try not to rise any more. That’s why Net Zero is working hard for carbon neutrality.

One of the largest asset management companies in the world is called BLACKROCK. Its CEO, Larry Pink sent a letter to several CEOs in 2020. He said, ‘The climate crisis is an investment crisis’ and ‘we will make sustainability our top priority when investing in the future.’ In 2021, he asked them to announce a business plan to achieve carbon neutrality by 2050. President Biden of the United States pledged to make the country carbon neutral by 2050. That’s why companies are moving more quickly in line with it.

Society

It is to create a corporate environment where diversity is not discriminated against, such as human rights issues, protection for the socially underprivileged, safety and health issues of workers, race, origin, and gender.

Governance

Check whether the board of directors makes decisions independently, whether the remuneration of executives is appropriate, and whether there are any bribery or corruption issues. For companies with problems, they withdraw their investments and make the list public.

ESG, as mentioned earlier, stands for environmental, social, and governance. These are non-financial factors that are becoming increasingly important for businesses and industries to consider in order to achieve long-term sustainability.

In the wedding photography industry, there are several ways in which ESG principles can be applied.

For example:

Environmental: As a wedding photographer, we can take steps to reduce our environmental impact by using sustainable and eco-friendly products and practices. This might include using digital rather than film photography, minimizing waste by printing only what is necessary, using recycled paper products, and avoiding single-use plastics.

Social: Wedding photography is inherently social, as it involves working with people to capture one of the most important days of their lives. As such, it is important to ensure that our business practices are socially responsible. This might include treating our clients with respect and dignity, promoting diversity and inclusivity in our marketing and hiring practices, and supporting charitable causes that align with our values.

Governance: Good governance practices are essential for any business to succeed, and wedding photography is no exception. This might include having clear policies and procedures in place for client contracts, invoicing, and project management, as well as adhering to ethical and legal standards in all aspects of our business operations.

Wedding photography can play an important role in capturing and preserving those memories. By adopting ESG principles in our business practices, we can help ensure that those memories are captured in a way that is sustainable and socially responsible.

Angel Project – Long Island Wedding Photographers.