JUMBO-Textil pursues ambitious sustainability goals
ESG stands for Environment, Social and Governance. The abbreviation is closely related to what is known as the EU taxonomy. This is because the EU Directive classifies economic activities in terms of their sustainability, applying environmental, social and governance criteria. The standards are designed to facilitate investments in economic activities that promote environmental protection, social justice and good corporate governance.
Standards for the environment, social matters and governance
Environment relates to the company’s impact on climate and biodiversity, on the use of energy and resources, etc. Social relates to the relationship to the workforce, customers, suppliers, residents, etc., that is, it investigates working conditions, human rights, inclusion and a company’s social commitment. Ethical principles, compliance issues, transparency, leadership topics, and others, are considered under the heading of Governance.