What do I need to open an account?
We will ask you to provide your company name, your name and a main user and contact for the company and your email address.
How much does it cost?
How does it work?
ESG Bay is self-assessment platform. Our standard questionnaire covers a comprehensive set of ESG data points bringing together current legislation, industry standards, leading frameworks and common best practices. At the same time it gives you the flexibility to select which information you assess to be material and what to include in your disclosure We will assess your performance based on universal values and best practices, indicating where is a room for improvement. Your evaluation will be displayed on screen, but should you wish to convert it to a report, you can download it, share externally or internally within the platform.
How do I connect with my suppliers?
We will display you the overall performance and individual information on your suppliers, once they accepted your invitation and share their information with you. You will then also be able to analyse their reports and in the near future invite them to complete a tailor-made questionnaire as per your business needs.
Share your reports instantly. Invite your business partners to assess their performance.
What is an ESG assessment?
ESG assessment is measuring company’s environmental, social, and governance risks and performance. The risks include things such as worker safety, energy efficiency, corporate board composition, staff safety, waste management, and employees’ satisfaction, which might be overlook during the standard financial performance review. A good ESG score is a indicator of a strong performance.
What is an ESG score?
An organisation’s ESG score is a measure of its environmental, social and governance performance. The ESG assessment should be perceived as a process where the score reflects its advancement and identifies areas for the improvement. ESG Bay will score your company’s performance against an universal, comparable and standardised framework, created without technical ESG jargon.
Benefits of Having a Good ESG Score
A strong ESG performance means increased chances of attracting investors, clients, customers and talent; validation of company’s good operational management, improved productivity and staff retention, higher profitability and better preparation for future challenges.
How can Your Company Improve its ESG performance?
Regardless of your current score or performance you can always improve your overall sustainability performance by:
What is a materiality assessment?
A materiality assessment is an analysis conducted by a company with engagement of its stakeholders in order to identify the environmental, social and governance-related impacts that the company has got on its stakeholders and their environment.
What is materiality?
Materiality is identifying which issues are issues are important for a company based on their severity of impact and likelihood of occurrence. A material issue can affect financial, economic, reputational, and legal aspects of a company, its stakeholders and their environment.
What supporting documents can I include?
Supporting documents are essential to provide a context and wider picture when analysing your companys sustainability performance. Small and medium companies might not have a developed sustainability management system with formalised documents at their disposal, hence we advise that enclosing other documents would be beneficial and accepted as supporting evidence. As long as recent and relevant these could include: policies, invoices, excel spreadsheets, internal documents, etc.
How to calculate the total energy consumption?
The total volume of energy (renewable and non-renewable) consumed by the site throughout the reporting period calculated in MWh equivalent. The energy sources might include: electricity, natural gas, fuel oil, propane, butane, coal, biomass, heat, steam and other. This data can be found on energy suppliers, through regular meter reading or stock inventory. *do not include energy sold/purchased, just used.
How to calculate total water consumption?
Water consumption can be calculated from:
How to calculate total GHG emissions for scopes 1-3?
Scope 1 accounts for direct GHG emissions occurring from sources that are owned or controlled by the company: Generation of electricity, heat, or steam - from combustion of fuels in stationary sources, e.g., boilers, furnaces, turbines; Physical or chemical processing (from manufacture or processing of chemicals and materials); Transportation of materials, products, waste, and employees. (emissions from the combustion of fuels in company owned/controlled mobile combustion sources (e.g., trucks, trains, ships, airplanes, buses, and cars)
Scope 2 accounts for GHG emissions from the generation of purchased electricity consumed by the company. Purchased electricity is defined as electricity that is purchased or otherwise brought into the organizational boundary of the company. Scope 2 emissions physically occur at the facility where electricity is generated.
Data to calculate total gross Scope 2 GHG emissions can be collected from GHG emissions factors data provided by energy providers and / or calculations of GHG emissions is through the use of the GHG protocol recommendations for market-based or location-based calculations
Scope 3 (upstream and downstream) accounts for other indirect GHG emissions that are a consequence of the activities of the company, but occur from sources not owned or controlled by the company.
Total gross Scope 3 GHG emissions data can be collected from GHG emissions data provided by supplier databases and may require the engagement with several internal departments, such as procurement, energy, manufacturing, marketing, research and development, product design, logistics, and accounting.
We recommend using:
What should be my target to reduce emissions?
Declaring GHG reduction targets publicly is best practice. 7.6 % emission reduction per year that cover scopes 1, 2, and 3 emissions is a recommended reduction target as UN Environment Programme (UNEP) warned that unless global greenhouse gas emissions fall by 7.6 per cent each year between 2020 and 2030, the world will miss the opportunity to get on track towards the 1.5°C temperature goal of the Paris Agreement.
What is carbon offsetting?
A carbon offset is a reduction or removal of emissions of carbon dioxide or other greenhouse gases made in order to compensate for emissions made elsewhere.
A carbon offset credit is a transferrable instrument certified by governments or independent certification bodies to represent an emission reduction of one metric tonne of CO2, or an equivalent amount of other GHGs.
Four types of carbon offsetting projects: forestry and conservations, renewable energy, community projects, waste to energy
What is net zero?
Carbon neutrality (net zero) - is a state of net-zero carbon dioxide emissions. It refers to the balance between the amount of greenhouse gas produced and the amount removed from the atmosphere. Net zero means cutting greenhouse gas emissions to as close to zero as possible, with any remaining emissions re-absorbed from the atmosphere, by oceans and forests, for instance.
What is energy efficiency?
Energy efficiency is the use of less energy to perform the same task or produce the same result. (For example, change to LED lightbulbs, insulate building)
What is renewable energy?
Renewable energy is energy that is collected from renewable resources that are naturally replenished on a human timescale. It includes sources such as sunlight, wind, the movement of water, and geothermal heat.
How to measure total of waste generated?
The total weight of waste (hazardous and non-hazardous) generated by the company activities. All waste (hazardous and non-hazardous) produced on the site should be considered. Weight of waste data can be collected from: Information directly provided by waste collection providers (public and/or private) on waste manifests and/or invoices;
What is zero waste?
Zero waste is a set of principles focused on waste prevention that encourages redesigning resource life cycles so that all products are reused. The goal is to avoid sending trash to landfills, incinerators or the ocean. Currently, only 9% of plastic is recycled. In a zero waste system, the material will be reused until the optimum level of consumption is reached.
What is recyclable waste?
Under the Waste Regulations 2011, you must segregate paper, cardboard, plastic, metal and glass at source unless it is technically or economically unfeasible. Under the same regulations, you should implement the waste hierarchy; reduce, reuse, recycle, other recovery and disposal. Recyclable waste is: paper including newspapers, magazines, and mixed paper; Cardboard; Glass bottles and jars; Rigid plastic products; metal containers, including tin, aluminium, and steel cans; Electronic Devices; Wood; Clothing and Textile; Bricks and Inert Waste Recycling; Food waste, provided your region has an organics collection program.
What is hazardous waste?
Hazardous waste is waste that has substantial or potential threats to public health or the environment.
What is effluent?
Effluent is sewage that has been treated in a septic tank or sewage treatment plant. It is also referred to as “trade effluent” or “wastewater.” Effluent is waste other than waste from kitchens or toilets, surface water or domestic sewage.
What are non-renewable resources
Non-renewable resources come directly from the earth. A non-renewable source is a natural substance that is not replenished with the speed it is consumed. Examples of Non-renewable Resources are: Coal, Crude Oil, Products Made from Crude Oil, Natural Gas, Nuclear, Wood, Fresh Drinking Water.
What is product’s life cycle?
A life cycle product carbon footprint measures the total greenhouse gas emissions generated by a product, from extraction of raw-materials, to end-of-life. It is measured in carbon dioxide equivalents (CO2e). The product life cycle begins when raw materials are extracted from the earth and ends when the materials from the products are reused, recycled, recovered or discarded.
What is circular economy?
The circular economy is a model of production and consumption, which involves sharing, leasing, reusing, repairing, refurbishing and recycling existing materials and products as long as possible. In this way, the life cycle of products is extended. In practice, it implies reducing waste to a minimum. It is based on three principles: design out waste and pollution; keep products and materials in use; regenerate natural systems.
How to calculate percentage of employees identifying as women?
Percentage of employees identifying as women employed in relation to the whole organization data can be collected from: HR records, employee count registries and/or databases used by HR. The percentage of employees identifying as women can be calculated by dividing the number of employees identifying as women by the total number of employees and multiplying by 100.
How to calculate average hours for training per employee
raining is referred to all types of vocational training and instruction and/or external education which is paid fully or partly by the company. The average hours of training delivered per employee data can be collected from:
The average hours of training per employee can be calculated by dividing the total hours of training provided by the number of employees in the company
Is employees’ representation on the company’s board compulsory?
Although employees still do not have a right to board representation, the 2018 UK Corporate Governance Code – applying to premium listed companies on the London Stock Exchange – introduced new measures which require greater engagement by boards with the workforce. Employee engagement at board level is now expected to be by way of one or more of the: appointment of a director from the workforce; establishment of a formal workforce advisory panel; and/or creation of a designated non-executive director role with focus on the workforce. If a companys directors have not chosen one or more of these methods, directors must explain the alternative arrangements that they have put in place.
What is adjusted and unadjusted pay gap?
Requires reporting on the difference between average gross hourly earnings of male employees and of employees identifying as women as a percentage of average gross hourly earnings of male employees. As opposed to the adjusted gender pay gap, the unadjusted gender pay gap does not factor in any differences in pay due to varying years of experience, position titles, contract types, or roles, among others
What is an exit interview?
Exit interview is a survey or a conversation with an employee about to leave the organisation. The purpose of the interview is to discuss employee’s reasons for leaving the company and to talk about their experience of working for the organisation. Although not a legal requirement conducting an exit interview is a good practice. Wherever possible, meeting face to face can provide the employer with invaluable data about its employment practices working environment.
What is equal opportunity policy?
Equal opportunity policy means that no employee or applicant will be treated less favourably on the grounds of their sex, marital status, race, nationality or ethnic origin, disability, sexual orientation, gender identity, age, religion, working practices or whether they have HIV and/or AIDS.
What is the difference between the disciplinary policy and grievance policy?
A disciplinary procedure is used by an employer to address an employees conduct or performance. A grievance procedure is used to deal with a problem or complaint that an employee raises.
What is a zero hours contract?
A zero-hours contract offers no guarantee of work and is used to address situations when work fluctuates. Many companies and some employees find this to be a suitable working arrangement, however, there has been criticism of their widespread use in the UK.
What is a collective agreement?
An employer may have an agreement with employees representatives (from trade unions or staff associations) that allows negotiations of terms and conditions like pay or working hours.
What is Health and Safety Policy?
According to the UK law every business must have a policy for managing health and safety. A health and safety policy sets out your general approach to health and safety. It explains how you, as an employer, will manage health and safety in your business. The Health and Safety at Work etc. Act (HSWA) 1974 (Section 2) 3 requires every employer to provide whatever information, instruction, training and supervision is necessary to ensure, "so far as is reasonably practicable", the health and safety at work of their employees and others affected by their activities. As a general rule, training should be re-visited on an annual basis.
What is Modern Slavery Act?
The Modern Slavery Act 2015 requires all business entities that carry on a business, or part of a business, in any part of the United Kingdom to prepare and publish a slavery and human trafficking statement.
What is a mission statement?
A mission statement is a clear, concise information elaborating on why your business exists, what are its overall goals are, what products or services it provides, its target market, and where it operates.
What is code of ethics?
A code of ethics is important because it clearly lays out the rules for behaviour and provides the groundwork for a pre-emptive warning. While a code of ethics is often not required, many firms and organizations choose to adopt one, which helps to identify and characterize a business to stakeholders. If your company has got a code of ethics steps should be taken to make sure it is clearly communicated to your employees.
What is ETI Base Code?
What is sustainable procurement?
Sustainable Procurement is a process whereby organisations meet their needs for goods, services and works in a way that achieves value for money on a whole life basis and generates benefits not only to the organisation, but also to society, the economy and the environment.
What is antibribery policy?
You should have an anti-bribery policy if there is a risk that someone who works for you or on your behalf might be exposed to bribery. Your anti-bribery policy should be appropriate to the level of risk your business faces. Your policy should include: your approach to reducing and controlling the risks of bribery.
What is whistleblowing policy?
As an employer it is good practice to create an open transparent and safe working environment where workers feel able to speak up.
Although the law does not require employers to have a whistleblowing policy In place, the existence Of a whistleblowing policy shows an employers commitment to listen to the concerns Of workers.
Training should be provided to all staff on the key arrangements of the policy. Additional training should be provided to those with whistleblowing responsibilities, such as managers or designated contacts, so they are able to provide guidance confidently to workers.
What is risk register?
A risk register is a tool in risk management and project management. It is used to identify potential risks in a project or an organization, sometimes to fulfil regulatory compliance but mostly to stay on top of potential issues that can derail intended outcomes.
What are the risks of climate change on business?
Climate change is affecting businesses directly and indirectly. Direct impacts affect your business directly, such as physical damage from floods or bushfires, or forced closures. Indirect impacts are the flow-on effects of climate change or extreme events, such as a supply chain being disrupted by extreme weather, or income being reduced.
What is lobbying?
Lobbying is understood as an act of attempting to influence business and/or government leaders to create legislation or conduct an activity that will help a particular organisation.
What is tax strategy and who is required to publish it?
You’ll need to publish a tax strategy if you’re a UK group, sub-group, company or partnership, and in your previous financial year you had one or both of: turnover above £200 million or balance sheet over £2 billion. UK companies or groups that are part of a Multi-National Enterprise (MNE) group that meets the Organisation for Economic Co-operation and Development’s (OECD’s) ‘Country-by-Country Reporting’ framework threshold of global turnover over 750 million euros also need to publish a strategy. Tax is considered a social responsibility; Looking for tax opportunities despite large profits is often considered unethical.
Who is required to produce an annual non-financial statement?
The following subjects are currently required to produce a non-financial information statement:
What is an external assurance?
Assurance is external auditing. It adds value because it creates trust in ESG reporting. Verification against a recognized standard will optimize an ESG report’s value.
What is local procurement?
Local procurement means to use your buying power to support local businesses to grow the local economy
Calculating lost time incident rates
The calculation of occupational accidents severity rate requires the report of the total number of days off due to a work-related accident.
A day off is a day lost as a result of an occupational accident resulting in an employees absence from work, in addition to the day on which the accident occurred. The number of days lost is counted in calendar days (including weekends and holidays) starting on the day after the accident, until the day before the return to work date.
Calculating Frequency Rates
To calculate these indicators we need to get the following pieces of information – the number of LTIs (lost time incidents) that happened in the last year, the number of employees and the number of hours worked in the last year
Difference between incident rate and frequency rate
A frequency rate is an expression of how many events happened over a given period of time by a standardised number of hours worked. An incidence rate is the number of events that happened over a given period time by a standardised number of employees.
Lost time incidents rate:
To calculate the LTIR, you will need to multiply the number of LTIs within the reporting period by 200,000 and divide by the total number of hours worked during the reporting period time by all employees.
Lost time frequency rate:
Lost Time Injury Frequency Rate (LTIFR), is the number of Lost Time Injuries (LTI) that occurred over a the reporting period multiplied by 1 000 000 divided by number of hours worked in the reporting period.
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