In this video, Bill Remy, CEO of TBM Consulting Group, finalizes his “Five Ways Manufacturers Can Bolster Agility” video series focusing on strategy #5, finding hidden growth opportunities in Environmental, Social, and Governance (ESG).
Joining him is Gary Hoover, the Vice President of the Global Private Equity Practice at TBM Consulting Group. They talk about how to balance the right short, medium, and long-term investments that will bring ROI and a positive impact on the environmental and cultural aspects of the business.
Read the summary below or view the video above to discover a pragmatic approach to ESG that will bring financial and environmental ROI as well as improve culture, productivity and safety.
In the final installment of our video series on enhancing productivity and agility in manufacturing businesses, CEO Bill Remy and Vice President of Global Private Equity, Gary Hoover, discuss the role of Environmental, Social, and Governance (ESG) strategies in manufacturing in the short, medium and long-term. Together they explore how these strategies can drive growth and productivity in manufacturing firms.
How are manufacturers thinking about ESG today as a priority to the business?
Bill opens the discussion by introducing the topic of ESG in the manufacturing sector. Gary provides an in-depth analysis, suggesting that the initial fervor for ambitious ESG targets has moderated to a more pragmatic approach due to the substantial investments required. He highlights that many companies now pursue ESG goals with a balanced approach, aiming for shorter-term returns on investments rather than solely focusing on long-term outcomes.
Manufacturers approach ESG for the best ROI and environmental impact.
The conversation shifts towards tactical ESG implementations that offer immediate and medium-term financial returns. Gary emphasizes the value of engaging frontline employees in developing ESG solutions, particularly in reducing environmental impacts and enhancing workplace safety and employee engagement. This engagement not only improves company culture but also boosts productivity by aligning improvements with the direct experiences and insights of employees.
Examples of short, medium and long-term initiatives
They further discuss the importance of incorporating ESG into routine business operations to ensure sustainable practices that benefit both the environment and the company's bottom line. Gary points out practical examples like optimizing energy use and reducing waste through targeted initiatives like compressed air leak reductions and route optimization for vehicles.
Bill and Gary conclude by stressing the significance of community involvement in ESG efforts, which fosters a sense of ownership among employees and leads to more effective and sustainable practices. They encourage listeners to consider these strategies to enhance productivity and growth under the ESG framework in their businesses.
Thank you for following our, “Five Ways Manufacturers Can Bolster Agility” video series. If you missed any of the episodes, please visit the pages below to tune in.
Strategy #1: Labor Strategies Reimagined for a More Productive Workforce
Strategy #2: Level Up Productivity In Manufacturing
Strategy #3: Avoid Technology FOMO
Strategy #4: Supply Chain Risk and Mitigation Strategies in Manufacturing
