Revenues and a higher profit margin are no longer enough for the survival of a company, because the constant evolution of the world demands strategies to remain and grow.

Sustainability is a theme that resonates in corporate headquarters worldwide as a commitment that occupies large entrepreneurs, micro, small and medium enterprises (MSMEs).

Many of them are lost on the map, because they tend to consider social commitment such as donations, reforestation and conservation of their community to be “sustainable”, but carried out in isolated initiatives and without a long-term objective. Complying with fiscal obligations, generating jobs and adding to the development of a region are just the tip of the iceberg.

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The ESG criteria (Environmental, Social in Governance, for its acronym in English) cover the elements to return to a truly sustainable company.

Without neglecting the financial aspects, weave the environmental, social, and good corporate governance commitment. Karina Pérez, leading partner of the Governance Insights Center (GIC) Mexico, a program promoted by PwC Mexico that seeks to bring companies closer to adopting ESG criteria and thus face the challenges of today's world, commented on the subject.

One of the main challenges is to create a culture in which all partners manage actions towards a common goal, a task that encompasses the work and participation of the entire circuit: employees, directors, suppliers, market and customers.

Sustainable development is strictly related to innovation. The role played by good Corporate Governance lies in checking that the established strategy works equally in all areas and translates into feasible results, he says.

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According to a study carried out by PwC and Women Action Sustainability of 50 companies and large corporations worldwide, only 26% have a specific sustainability commission, which contrasts with the 48% that do not allocate any such commission.

Most companies are family-owned and have not yet reached the maturity to establish a government or council of experts in different fields, so they delegate these responsibilities to family members. In contrast, large companies listed on the Mexican Stock Exchange tend to establish, manage, and allocate resources to ESG strategies, leading to mutual benefits.

The paradigms are no longer the same, which is why large companies must also update themselves and take into account issues such as: gender diversity, gender perspective, equality, inflation and exchange rate policies, environment and water crisis, among others,

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Original note