Work Group 11 - Aerospace Industry ESG Engagement

Work Group 11 - Aerospace Industry ESG Engagement

Purpose

To deploy and maintain an enduring aerospace industry voluntary standard, with the support of a proven third-party solution, for assessing Environment, Social and Governance (ESG) practices that enables informed business decisions, duty of care compliance obligations, sustainability reporting, and positive change in environmental & social topics.

ESG Benefits: Currently, Environment, Social and Governance (ESG) obligations are a salient and growing focus requiring Original Equipment Manufacturers and the industry supply base to meet increasingly complex laws, regulations, customers and other stakeholders’ expectations. Many companies have existing contractual terms and conditions that obligate their supply chain to comply with new laws, standards and ESG initiatives so the importance of a sectorial approach, for voluntary and unilateral consideration and use by Aerospace companies, is clearly needed to establish an effective and efficient framework.

Voluntary Standard Benefits: Establishing a voluntary sectorial framework for ESG engagement (e.g. assessment and awareness) would strengthen business resiliency and reduce resources and costs. Failure to identify and mitigate ESG risks can lead to business disruption, claims and legal issues, damage to both economy and reputation of the corporations and of the entire sector.

Objectives

  • Entity ESG assessment that includes risk-based validation of assessment results, for voluntary and unilateral consideration and use by Aerospace companies.
  • Driving continuous improvement of Aerospace industry ESG performance through awareness campaigns.
  • Reducing costs and minimizing administrative burden through a voluntary sectorial aerospace approach.
  • Upskilling industry in ESG Acumen.

 

Events

 

Contact:  Christer Hellstrand