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Integration between ESG and GRC

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November 3, 2023
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by Luthfi Mardiansyah
WhatsApp Image 2023-11-01 at 15.39.59_f1d0b164

For the second time, the Chairman of Chapters Indonesia, Luthfi Mardiansyah participated in the annual GRC Summit. “It was always pleasure and I learnt a lot of new knowledge besides the opportunity for strengthening connection with experts and practitioners in the field of GRC”.

Last year, the theme of the GRC Summit was Sailing in The Multiverse of Uncertainly, while for 2023, the discussion during the summit was themed Building Resilient Future Through GRC and ESG.  

GRC is a capability that enables an organization to (G) reliably achieve objectives, (R) address uncertainty and (C) act with integrity. GRC is about Culture, Actions and Activities of organizations, it is not about Technology.

The integration between Environmental, Social and Governance (ESG) and Governance, Risk and Compliance (GRC) is becoming increasingly important for business continuity, especially in the complex and sustainable era. 

Combining ESG and GRC is an important step towards building a sustainable future business. ESG integration within the GRC framework helps businesses define social and environmental responsibility as an integral part of corporate governance.

ESG and GRC integration also impacts access to capital and investment. Companies can increase their attractiveness to investors concerned with environmental and social issues.

The integration of ESG and GRC also provides a competitive advantage in an increasingly ESG conscious market. Companies that adopt this holistic approach are able to deal with increasingly high consumer demands and expectations for corporate social and environmental responsibility. Through this holistic approach, companies can manage risk, take advantage of opportunities, build strong reputation and gain competitive advantage.

It is important for companies to prioritize the integration of ESG and GRC in their business strategy to ensure continuity and sustainable growth in the future.

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