Newsletter

Manufacturing eNews | July 2023

Manufacturing Businesses and ESG

It is no surprise that the manufacturing sector is a driving force when it comes to effecting industry change, considering the supply chains and processes involved. In the current climate (pardon the pun!), manufacturing businesses are finding themselves subject to closer inspection than ever before, as more businesses seek to find suppliers who align to their values on Environmental, Social and Governance (ESG) principles.

What is ESG?

ESG is the term used to measure the impact a business has against set environmental and social standards. ESG reporting is now required for major UK companies (being those companies which are "listed" or "quoted", have an annual turnover of £500m or more or where there are over 500 employees). Whilst many businesses are not yet required to report on ESG, many are doing so as a matter of best practice.

How can employers ensure they get their stance on sustainability in the workplace correct?

Sustainability is an increasingly important topic on the agenda for employers. Employees expect more from their employers in their approach to sustainability, beyond simply policies that are not followed in practice. When considering the challenges of the current recruitment market, it is clear Environmental Social and Governance factors (ESG) are key considerations when assessing employee benefits packages.

Placing sustainability at the heart of manufacturing

The manufacturing sector is no stranger to dealing with challenges. Over the past few years the industry has dealt with challenges surrounding increasing costs, issues with supply chains and now sustainability. There has been a monumental shift in attitudes around sustainability over the past few years and corporate sustainability has moved from being an afterthought, to becoming a part of everyday corporate conversation. Businesses will now be looking to take significant new steps to take responsibility for the social and environmental impacts of their operations.

The challenges that sustainability brings to the manufacturing sector

The challenges that sustainability brings to the manufacturing sector are well known. Whether that be manufacturing a product that is more energy efficient or simply reducing the carbon footprint of the whole manufacturing process. Part of that discussion moving forward must also include the commercial premises from which manufacturers operate. The issue of sustainability will be particularly pertinent to those manufacturers that rent their commercial premises.

Business immigration - sustainability of manufacturing from a business immigration perspective

Over the past decades immigration and globalisation have had an increasing impact on businesses globally. Migration of highly skilled individuals provides a means of productivity, adaptability, innovation and labour which allow for the maximisation of profit sustaining a growing UK economy.

Brexit and then a global pandemic has had a negative impact on the UK's economy in relation to businesses and manufacturing. This has increased the dependence on overseas workforce to run a smooth and vibrant economy.

You are receiving this email because you recently requested to receive our updates by email.
If you no longer wish to receive these updates from us please click here to unsubscribe. GDPR

The content of this e-alert is merely informative and should not be relied upon as a substitute for legal advice.

Main Office: Rutherford House, 4 Wellington Street (St. Johns), Blackburn, BB1 8DD where a list of partners is open to inspection

t: 01254 222399 | f: 01254 52347 | 2021 Forbes Solicitors is the trading name of Forbes Solicitors LLP.
This firm is authorised and regulated by the Solicitors Regulation Authority (SRA No. 816356)

Authorised and regulated by the Financial Conduct Authority | VAT No. 174 394 344 | Terms & Conditions