BY ALLARD BOER – CFO TRUST, April 2022
Why does Trust care about ESG?
Trust is bringing Environmental, Social, and Governance (ESG) to the next level. And we’re moving fast. We have now brought ESG to the heart of our strategy and business. We’re making fair digital accessories the new norm – Fair for people. Fair for the planet. At fair prices. And that’s why we are starting this blog – to take you along on our ESG journey and provide you with insight into our developments.
It’s the right thing to do
So, why do we care about ESG at Trust? Because it’s the right thing to do. We operate in the consumer electronics industry, which is fairly ‘dirty’. Many electronics products start in mines, where people often work under harsh – or even dangerous – conditions, sourcing the materials that go into our electronic devices.
One of the problems we face is the lack of transparency and unsustainability of supply chains. Additionally, e-waste is currently the world’s fastest-growing waste stream. When an electronics product reaches the end of its useful life, it often ends up in a landfill, usually in Africa, where piles of electronic waste are burned – the fumes from which are toxic and pose serious health risks.
From a moral perspective, Trust believes we have a role to play in making things better.
Doing good is good business
The benefits of a more sustainable future, however, don’t stop at morality. As businessman and CFO, I strongly believe driving ESG is simply good business. There is increasing evidence that links superior financial performance to ESG. With this in mind, I am convinced that companies embracing ESG will be the winners of tomorrow.
Everybody wants it
Here’s another thing about ESG – everybody wants it!
Customers want it. Consumers want it. Employees want it. Investors want it, banks want it, regulators want it.
The world is rapidly moving in this direction. And we don’t want to miss out. Let’s zoom in on two of our most important stakeholders: our employees and our customers.
Regarding employees, research shows that most millennials would take a pay cut to work at an environmentally responsible company. More importantly, 64% won't work for a company at all if it does not have strong, socially responsible values.
Meanwhile, most of our customers are large, often listed companies that are rapidly changing. Some of them are intrinsically motivated to change. Many are under pressure from regulators, consumers, society, investors – or all of the above! They are keen to list, promote, and sell more sustainable products. The way I see it, ESG is simply another opportunity to create value for all stakeholders!
So, to summarize, why does Trust care about ESG?
- It's the right thing to do
- Doing good is good business
- Our stakeholders want it – and the world is rapidly moving in this direction.
- It’s possible! I will tell your more about what we have already achieved at Trust in our next blog.
- It's fun! Building a company together is exciting. Building an environmentally and socially responsible company? All the more so.
Thank you for taking the time to read this,
Allard