In the last few years, global conglomerates announced their ESG pledges (environmental, social, governance) as companies around the world strive to become more responsible corporate citizens. But how many of them have fulfilled their promises?
What is ESG?
The United Nations has defined ESG as the supporting framework that contains non-financial elements of its Sustainable Development Goals (SDGs), which include a wide range of environmental, social and governance policies prioritized by national governments.
As of 2023, Forbes reported that only 900 out of more than 2,000 of the world’s largest companies have set forth reliable action plans based on their ESG pledges. If these companies don’t act urgently, according to the same report, the global economy stands to lose around $178 trillion by the year 2070.
Additionally, businesses face challenges that are not limited to incomplete data, inconsistent policies, reduced budgets, internal organizational conflicts and external politico-economic landscape.
Given those challenges, big companies need help to meet their sustainability goals. And that is why Eco BCG was founded in 2009.
“Sustainability is difficult to deploy. Why? Because each business is independent. They have different priorities and goals when it comes to productivity, quality, safety, and sustainability. Corporations have quite a hard time, and that’s where we come in,” Eco BCG President and CEO Sergio Castillo said in an interview with Inc 5000.
His brainchild, currently ranked as the #1 fastest-growing engineering company in the U.S., offers a structured approach to evaluation, opportunity identification, design, engineering, project justification and management.
According to its official website, Eco BCG’s successful implementation can help firms reduce carbon emissions by as much as 40%.
Although some of the largest brands have stepped back from their big climate pledges and softened their climate targets, Eco BGC helps smaller companies, like itself, make their own mark in the global pursuit of a greener future.
