CM Labs as mentioned in International Cranes & Specialized Transport Magazine:
How companies are using ESG initiatives to not only create a safe and diverse workplace and reduce the industry’s impact on the environment, but also attract new customers and investor. NIAMH MARRIOTT reports
Environmental, social and governance (ESG) refers to a set of standards that ensure companies work ethically and sustainably with transparent operations. Though not a requirement globally for all sizes of company, the largest in our industry are adopting these intiiatives to promote how a socially conscious and environmentally friendly business can also be profitable.
The environmental part of ESG initiatives includes management of resources to reduce waste and carbon emissions. Given the climate crisis, it is clearly vital that companies urgently adopt policies to lessen the damaging effects of burning fossil fuels and reduce their energy consumption. Having an ESG initiative in place could help track key sustainability metrics and then reducing greenhouse gas emissions and making positive changes to improve energy efficiency.
The social part helps to ensure a business is working in a way that considers matters of equality, diversity and human rights throughout its operations, as well as community outreach initiatives that benefit local communities and infrastructure. It covers issues of labour rights, privacy and data security, and will offer guidance and suppor tfor anti-discrimination, modern day slavery and health and safety policies.
Governance relates to how transparent a company’s operations are and looks at establishing positive board and director practices, as well as corporate governance, behaviour and accounting. Guidance would be offered on anti-bribery and corruption matters and there would be specific guidelines for dealing with decision making and leadership.
[…]Training specialist CM Labs says, “We view ESG initiatives as highly effective tools for driving sustainable development within the construction industry. This industry can be quite resource intensive.
“We think that ESG initiatives are important in the current climate to not only ensure that all businesses are doing their part but also drive innovation on more efficient, more resource-savvy building and operating techniques. Our advice would be to share your best ESG practices within the industry and talk to others about it; even [with] your competitors. Transparency in ESG builds trust with your stakeholders and has the ability to elevate the whole industry if everyone is aware of the latest cutting-edge ESG strategies and technologies.
In its manufacturing facility in Quebec, Canada, 94 per cent of its electricity comes from hydroelectric dams. It is also working on reducing the weight of its hardware and reduce the numbers of computers required to run the simulations, saving emissions with transport of its kit. It is also currently exploring the simulation of electric and hybrid heavy equipment.
Read the full article discussing the ESG initiatives as found in the lifting industry today in International Cranes and Specialized Transport March 2024 Magazine, p13-p17.
