ESG STANDARDS - A NEW TREND IN BUSINESS OPERATIONS
ESG represents a set of 3 essential standards to measure factors related to the sustainable development of businesses. In the recent market, ESG serves as a guideline every business needs to follow, especially in the manufacturing industry.
So, what are ESG standards?
Environment standards: Measure how a business impacts the environment and natural resources throughout its production, operation, and management process.
Social standards: Evaluate factors related to society, such as the company's business relationships with customers and partners, working conditions of employees, employee welfare, etc.
Governance standards: Judgement related to the organization's activities to ensure efficiency, transparency, business ethics and compliance with local regulations
Why are ESG standards necessary?
The ESG criteria reflect a business's impact on the environment, society, and governance performance. The higher the ESG score, the more it shows that the company has an efficient operating process and a positive impact on the community and its employees.
At Factory Village developed by CORE5 Vietnam, 100% of the factories are designed to minimize negative impacts on the environment and enhance sustainability in production. Choosing to rent a factory with CORE5 is a decision that elevates businesses’s operations and expedites qualification for ESG standards.
