ESG - Greater Niagara Chamber of Commerce

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Greater Niagara Chamber of Commerce

An environmental, social, and governance framework (ESG) is a tool with which companies can assure investors, staff, and stakeholders of their commitment to managing risk and taking opportunities related to environmental, social, and governance issues. It offers a means to take corporate responsibility beyond promises and into practice. Embracing ESG is a means by which an enterprise can not only realize its desire to be a responsible community member, but can help attract investment and talent.


As issues like the climate crisis, income inequality, discrimination and bigotry dominate our headlines and our thoughts, environmental, social, and governance frameworks are increasingly demanded in enterprises.

Investors, consumers, and workers alike are increasingly looking for enterprises that don’t necessarily deliver the best ROI, the lowest price, or the highest wages, but for enterprises that make a difference, have a positive impact, and are governed responsibly with an eye on equity, tolerance, and contributing to the greater social good.

Enterprises can be — and often are — forces for good in society. ESG provides a structure in which they can identify and prioritize the means by which they will do this.


Today’s mobile workforce was empowered by the rise of work-from-home and hybrid-office models and a more ‘footloose’ approach to choosing employers. Committing to ESG is one way to attract talent when raising wages is not always practical.


Workers, especially from the younger generation, want to feel that their work makes a difference and that their employer shares their values. Embracing ESG is a great way to be more competitive in the war for talent and bolster positive company culture.


Companies selling services and products can find it difficult to compete on price, especially with massive international competitors. Consumers are demanding better, though, and a strong ESG profile can drive customer loyalty.


of consumers think that companies should be actively shaping ESG best practices.


of employees prefer to work for or support companies that share their values.


of consumers said they would not do business with companies that treat employees, communities or the environment poorly.
— A 2021 report by PriceWaterhouseCoopers



Why ESG is a priority:


of consumers think companies should be doing more to address environmental issues.


of consumers want to see more progress on social concerns.


of consumers would like better governance from the companies they buy from.

Offering an advantage in these fields is a powerful way to attract customers without having to compromise on quality, service, or the bottom line.


Why you should invest in ESG:


ESG is increasingly attractive to investors. Global ESG-focused investment is projected to hit $33.9 trillion USD in 2026, well ahead of the overall asset investment industry. In the future, ESG will transition from an investment-ready asset to a requirement.


Companies without an ESG framework are exposing themselves to risk. Without firm actions that match commitments, enterprises will be accused of greenwashing or wokewashing, harming sales, recruitment, and investment.


The Canadian Securities Administrators, U.S. Securities and Exchange Commission and European Commission are all working on or have already introduced ESG requirements.


of all assets under management within five years will be ESG-based


of asset managers believe investing in ESG will yield stronger overall returns in the future


of asset managers say they’d be willing to pay higher fees for ESG funds


Why you shouldn’t delay on ESG:


In the 2022 federal budget, the Government of Canada committed to mandating companies to report their climate-related financial risks. Are you readying your reporting tools?


Targets are in place for net-zero emission goals, and as of 2035 consumers will be unable to purchase gas or diesel-powered cars. Will you be ready?


Stakeholders are putting ESG metrics under increasing scrutiny. Do you know what you need to report, and — more importantly — what your community wants to know?


of companies do not have a Task Force on Climate-related Financial Disclosures (TCFD) report, which will present a substantial liability when mandatory reporting requirements under that framework are introduced.


of Canadian firms don’t take steps to obtain external reassurance of their ESG reports

Only 48%

of Canadian companies report their process for identifying, assessing and managing climate risks

Enterprises can make themselves more competitive for customers, clients, talent and investment today by developing and implementing an ESG framework, and future-proof themselves for the time when these requirements become mandatory. These resources and ideas can help you equip your organization for the ESG world.

ESG in the News

Understanding Canada’s Air Quality Index

Canada’s Air Quality Health Index (AQHI) is an important tool for determining when your control measures should kick in. Download… more »

Webinar: Introduction to ESG

To enable Niagara businesses to go the extra mile in social responsibility, the Greater Niagara Chamber of Commerce (GNCC) and… more »

PenFinancial and Greater Niagara Chamber of Commerce launch Environmental, Social and Governance resource site for business

Investors, consumers, and workers alike are increasingly looking for enterprises that make a difference, have a positive impact, and are… more »

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Please note, all information is accurate as of date posted. Policies may have updated or changed since posting date. Please refer to your own company’s policies and procedures in all cases.