ESG (Environmental, Social, and Governance) initiatives in healthcare allow providers to reduce their carbon footprint, increase social responsibility, and improve governance and compliance.
What does this mean for the industry? Utilizing sustainability policies to create more efficient and environmentally friendly processes. Enabling diverse communities to gain better access to healthcare facilities and programs. Putting together socially responsible programs, and following up on their execution and success. Leveraging technology best practices to stay in compliance and ensure continuous governance.
SOPTICS enables healthcare organizations to continuously manage ESG priorities, so they can stay focused on their daily operations, with an eye towards environmental and social priorities and responsibilities.
Healthcare organizations with a commitment to ESG get better traction for their business. Customers and investors are becoming increasingly
knowledgeable and sophisticated, more attuned to which organizations are aware of their ESG impact and are responsive to those priorities - ESG is not just a "nice to have", it has become an imperative for success!
What do organizations need to prioritize, to be good corporate citizens?
Environmental: How does an organization interact with the environment?
Healthcare institutions and providers can help participate in ESG in multiple ways. They can be more energy-efficient and water-efficient with reduced usage, use recyclable materials, use renewable energy sources such as solar, reduce gas emissions from their fleet and suppliers' fleet to minimize impact throughout their supply chain.
Social: How does an organization interact with society?
Meet diversity, equity, and inclusion goals by putting together target metrics to continuously monitor progress and make changes as required. Completed training and certifications to increase awareness in the organizations to work towards a common society commitment. Supporting the communities that are underserved from all sections of society.
Governance: How does an organization run?
The SEC and other regulatory bodies have signaled that a new framework for corporate climate & ESG-risk related financial disclosures is approaching - indicating governance & monitoring around ESG initiatives is becoming more important than ever! Stay compliant with government regulations, by enabling data collection and reporting on key metrics, and checks and balances for transparency. Engage people at all levels to stay in compliance by regularly monitoring processes, enforcement of policies, and success of the ESG programs, all of which is critical to the overall sustainability impact of the organization!