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WriteCanvas Joins Forces with GreenFi

WriteCanvas News


WriteCanvas, a Mumbai-based knowledge powerhouse founded in 2018, has partnered with GreenFi, a Singapore-based company specializing in ESG risk analysis.

WriteCanvas will help GreenFi with its strategic communication by producing blog posts and thought leadership articles, among other types of content.

Erica de Wit

Erica de Wit, Co-Founder, GreenFi, sees a natural synergy between the two companies. “Both GreenFi and WriteCanvas share a passion for ESG and sustainability. WriteCanvas’s expertise will be invaluable in establishing GreenFi as a leader in the ESG space,” she said.

Renjini Liza Varghese

Renjini Liza Varghese, CEO, WriteCanvas, expressed her enthusiasm about the collaboration. “The collaboration will raise our profile internationally. We look forward to a fruitful partnership and significant contribution to GreenFi’s building.”

Since its inception in 2018, WriteCanvas has honed its expertise by working with a diverse clientele. The portfolio includes companies from manufacturing, banking, financial services, and insurance (BFSI), green funding, trade finance, and trade associations. This experience positions WriteCanvas as a perfect partner to assist GreenFi’s communication strategy.


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ESG

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Decoding the ESG matrix: Understanding the factors that shape it

Renjini Liza Varghese


I was delighted with the evolution of ESG in the past decade. The subject has garnered global attention and got the attention of regulators who are constantly upgrading the frameworks and introducing new compliances. On the one hand, I am happy that ESG is dominating decision-making at the board level, but on the other, I am also saddened that the enterprises are moving towards more camouflage or greenwashing. It is a double-edged sword.

I have been thinking about this issue as a result of recent news and feature stories in the newspapers on television and other platforms. Globally, the political landscape, protests, the potential to manipulate the numbers, and the practice of “greenwashing” are a few issues dominating the sustainability landscape. The impact of ESG variables is particularly noticeable in funding choices, mergers & acquisitions, and investment strategies.

The moot point is, do these principles apply to India? Since the majority of the occurrences I have noticed are global in nature, it is still too early to draw any conclusions. But trust me, we are not too far behind.

ESG due diligence 

Take, for instance, the most recent KPMG report—a study on ESG Due Diligence. According to the research, more than half (53%) of investors have given up on M&A projects because of significant issues with regard to ESG due diligence. This study surveyed 200 US ESG practitioners, including corporate and financial investors and M&A debt providers.

However, this does not present the entire scenario. According to 42% of respondents, the results of the ESG due diligence led to lower purchasing prices. Over 60% investors stated that they would be willing to pay more if a company showed advanced ESG maturity and a commitment to their values. More than a third of them said that this premium might be higher than 5%.

It is interesting to note that KPMG, in earlier research for the EMEA region, observed a rise in ESG evaluation, with four out of five dealmakers stating that ESG concerns now occupy a significant position on their M&A agendas.

ESG gaining prominence 

Another study conducted by media analytics company Cision reveals the prominence of ESG issues in traditional media and social platforms. Globally, even as ESG reportage in the media and discussion on the topic on social media increased between January 2020 and June 2023, consumers were unwilling to pay more for environmentally friendly products and were uninterested in corporate social responsibility.

The study was focused on Germany. ESG concerns saw a 36 percent upswing in visibility in the first half of 2023 in comparison to the previous three years. Ecological issues increased by 74% during this evaluation period, social issues by 8%, and corporate governance issues by 6%. (No clarity).

While, on the one hand, corporates are embracing transparency to meet increased ESG reporting standards, we also come across instances of greenwashing, and this number, too, is rising. I believe the organizations have been unable to articulate and communicate their ESG strategies and related outcomes.

As a veteran in the communications industry, here are my two bits.

  • Effective communication is the key: Have a communications strategy in place. Identify the key points and the focus areas you want to communicate. Elaborate your ESG initiatives in the form of case studies.
  • Manuela Schreckenbach, Head of Insights Consulting, DACH at Cision, also notes that efforts are being made to combat “greenwashing.” A Dutch court recently granted environmental organizations’ request to move on with legal action against KLM over alleged greenwashing in the airline’s “Fly responsibly” commercials.

Companies of all stripes are increasingly promoting their “GREEN” efforts. Some businesses have resorted to overstating, lying about, or inventing their ESG credentials rather than making genuine adjustments to their operations and goods. How many of these claims will withstand scrutiny from authorities, activist groups, or opportunistic customers remains to be seen.

As per a Reuters report, as part of a concerted effort by international regulators, the UK Advertising Standards Authority (ASA) has recently enforced action against corporate greenwashing. Airlines, banks, fashion retailers and energy giants are among over 20 companies targeted by the ASA for misleading statements and representations about their sustainability and environmental credentials.

Recalling here the UK’s Competition and Markets Authority investigation into retailers ASOS, Boohoo, and Asda’s fashion brand, George.

I leave you with a food for thought —— Sustainable practices should be a habit and not to be forced element. Do you agree?


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