ESG is a term that is bandied about by many, but what exactly is it?
And what is its relevance to your company, your workforce, and your investors?
ESG is an acronym for Environmental, Social, and Governance.
In its more formal context, it’s a criterion by which socially conscious investors evaluate the responsibility of a company when it comes to its stewardship of the environment.
Also measured are how it manages relationships with employees, customers, and communities, and how a company governs itself in terms of leadership responsibility, compensation, and shareholder rights.
Simply put, ESG measures the intentions and conscience of a company.
- Do they care about the environment and protect it through their policies, practices, products and trading partner selections?
- Do they care about people and doing the right thing in every interaction with others?
- Does the leadership of the company treat employees fairly, and do they govern the affairs of the company to comply with regulations and laws ethically?
Environmental Social Governance In Action
Many companies are beginning to understand the concept of ESG, but don’t know how to put it into practice.
If you’ve seen or read about WaterFleet’s The Water Rig, then you’ve witnessed ESG put into practice as it should be. Companies that utilize The Water Rig service put their commitment to ESG values in action in a real way.
The Water Rig is a mobile water service solution that exemplifies all three components of ESG being successfully implemented. Let’s look briefly at how this is accomplished.
Environmental
During a trip to an industrial worksite, you’ll likely see plastic water bottles filling trash bins or scattered about.
Workers are in need of staying hydrated throughout a long day on the job site, and dozens of workers drinking bottled water produces dozens of plastic bottles being discarded.
The Water Rig serves as a mobile utility that tackles this environmental hazard by providing people with a potable water supply that meets EPA drinking water standards.
Workers can bring their drinking water container to The Water Rig or their water kiosk called The Refresh’R and fill it, reducing plastic bottle water usage and the trash resulting from it.
WaterFleet has successfully served many man camps and work sites, helping companies manage the environmental impact of a project.
The company takes great pride in their success in this area.
“We’re protecting the environment one sliver at a time,”
– Allison Pyle, Co-Founder and CFO of WaterFleet.
Social
Clean, safe water at construction sites, oil drilling sites, or areas hit by a natural disaster is imperative.
People in these environments often are reliant solely on the water they have provided themselves, or limited supplies brought in for the larger group.
Getting each individual an ample supply is obligatory for organizations that wish to meet the needs of those under their watch.
For example, WaterFleet has provided clean water to thousands of job sites throughout the Southern U.S.
For those living in man camps, taking a shower in safe water is a huge benefit.
During a long hot summer, maintaining proper hydration is critical to worker safety and well-being.
WaterFleet prides itself on meeting these and other human water needs through the deployment of The Water Rig.
Another example of meeting social criteria, wastewater treatment is provided on-site through The Reclaimer Rig and adds climate-controlled restrooms with flushing toilets and hand-washing stations with The Reliever Rig.
These services all increase the comfort, safety, and wellness of workers on-site, while at the same time eliminating literally tons of pollution and millions of truck miles.
Governance
Responsible organizations understand and follow all community, local, state and federal regulations in which they operate.
Their management team shows they are committed to doing things the right way by respecting these regulations for the safety of employees and customers, as well as acting responsibly for the protection of the environment and the communities in which they work.
Environmental Social & Governance is more than just a term investors use when evaluating a company. It’s a way of life for companies that are committed to living out their core values every day and in every interaction. It is an added benefit if they also help their customers honor ESG initiatives.
Worksite managers can find all the ESG criteria they need in WaterFleet services. Compliance with investor standards is met, the environment is respected, and the wellness and quality of life is raised for the people served. It’s the WaterFleet way.