ESG stands for Environmental, Social and Governance, and refers to the three key factors used when measuring the sustainability and ethical impact of a business. Wexford Enterprise Association and all of our divisions have demonstrated our commitment to these three areas. We are currently in the process of developing a holistic ESG strategy so overall progress can be better measured in accordance with the targets we set out for ourselves. However throughout our history, WEA has focused on these three central areas of ESG, though in a less formal approach.
The Environment component examines how a business performs to curb the negative impact of our environment, focusing on waste, resource depletion, deforestation and climate change. In addition to the positive effects on the environment as a result of our Datagroup and Recycling 2000 divisions outlined earlier in this report, Wexford Enterprise Centre has waste recycling support for its Resident Companies and has installed energy efficient lighting, heating and solar energy systems throughout the Centre. With the support of the Sustainability Energy Authority of Ireland (SEAI), we have acheived a 90% reduction in lighting energy
usage throughout the common areas of the Centre.
The Social component focuses on how people are treated within an organisation with special attention given to employee relations, diversity in the workplace, working conditions and the funding of local community projects or organisations that serve the marginalised. Wexford Enterprise Association has actively worked to improve the social fabric of our community and this ethos is an integral part of our mission statement. Our initiatives such as Recycling 2000, Datagroup, Youth Mental Health Services and Disability Employment opportunities reflect this. However, this remains a work-in-progress as we strive to improve the social fabric of our community.
The Governance component concentrates on how an organisation regulates itself, focusing on a number of criteria including executive remuneration and board diversity and structure, among other things. From the beginning, our Board of Management has represented a cross-section of the community to ensure that the social, community and economic issues are represented. As a not-for-profit organisation with charitable status, Wexford Enterprise Association complies with all statutory regulations regarding financial disclosures, but in addition, is working to make the operations of the organisation as transparent and accessible as possible and to further strengthen its internal structures and policies.