Environmental, Social and Governance (ESG)
The sport industry can deliver significant improvements across a wide range of societal, environmental and economic measures. The most powerful framework for evaluating and improving the impacts of sports technology companies and sporting event organisers is ESG (environment, social, governance). Investors, government and regulators have recognised that ESG is the key framework used to understand how an organisation manages risks and opportunities around sustainability issues – taking a holistic view that sustainability extends beyond just environmental impact. When sporting events, organisations and facility providers specifically target the needs of a wide range of stakeholders including society at large and the environment, many mutual benefits can be achieved.
Accordingly, ASTN expects an increased requirement for a simple self-assessment and more comprehensive ESG implementation across all levels of sport in the future.
The evidence is that organisations are responding to heightened interest in ESG issues, which must go beyond a simple checklist. Consumers want organisations to do more on ESG to drive for environmental and social gains, and to have strong governance. Commercial sponsors expect that the recipient of funding has good management processes in place and will not damage the sponsor’s brand reputation. Potential investors in sportstech startups, like to understand what governance regimes are in place that warrant responsible deployment of their investment.
ASTN has teamed up Professor Danny Samson who specializes in operations and supply chain management at the University of Melbourne. Having previously worked as an engineer and academic in multinational companies and universities in Australia and the USA, Professor Samson has published 150 articles and a dozen books on aspects of management, leadership and innovation.
ASTN will present ESG Sports at the Money in Sport Conference 2023.
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