Providing greater transparency and progress in ESG for Sport
The $800 billion sports industry is one of the many industries around the world that is starting to take notice of ESG factors.
Sports organisations are increasingly looking at how they can have a positive impact on the environment and society.
By focusing on social, environmental and governance factors, sports organisations can improve their standing with the fans, gain support from new consumers and investors, and help to improve their chances of long-term success.
As Forbes Magazine reports in their Sept 2021 edition:
“The Tokyo Olympics put a major focus on using recycled and recyclable materials: athletes’ beds made from cardboard, podiums made from recycled plastic, and even the medals were made from recycled electronic devices.
These steps forward should certainly be championed and emulated. But as part of a bigger picture, they don’t go far enough in making up for the huge environmental and social impact sporting events have on the world.
Sport has an enormous societal impact, and when organisations set their minds to making change happen, it works – we’ve seen this over the last decade with football’s support for racial equality, through partnerships like Show Racism The Red Card and Kick It Out. So why can’t we do the same with sustainability?
Seeing sports events in siloes – athletes, associations, fans, suppliers – is clouding the ability to assess the full breadth of the problem. That’s why assessing the entire supply chain, from start to finish, is the only solution.”
And this requires new assessment tools that provide transparency across the industry.
The QuantumLeap cloud assessment program enables understanding of ESG readiness and improvement.
Environmental performance measures the energy a company consumes, the waste it generates, the natural resources it uses, and the consequences for ecosystems and habitats.
An overarching factor is climate change, which is increasing the frequency and force of extreme weather events. Climate change and instability also cause uncertainty that, in turn, increases corporate risk and delays investment.
The sports industry is a significant contributor to the climate change. Greenhouse gas (GHG) emissions are produced through vast waste production, electricity consumption, and transportation, as well as the construction of sports venues to host events.
Social performance assesses a company’s engagement with its workers, customers, suppliers, and the local community.
It covers human rights, diversity and inclusion, health & safety, and community impact. Inattention to these factors can damage corporate brands and reputations and bring legal and regulatory penalties.
Sport is driven by community engagement and can be a leader in progression through championing social causes. The industry’s huge platform also lends itself to the role of leader in this field. However, to fulfill this role, there needs to be effective leadership at the top.
Governance assesses how a company uses policies and controls to inform business decisions, comply with the law, and meet obligations to stakeholders.
Governance failures - for example, aggressive tax avoidance, corruption, excessive executive pay, or relentless lobbying - cause reputational harm and loss of trust.
Sports bodies cooperate with public authorities, betting regulators, and law enforcement, both on a national and international level, to tackle issues pertaining to corruption. Some sports federations use in-house regulatory bodies to clamp down on unfair or illegal practices in their respective sports.
Australian Institute of Sport
QLBS has been working with AIS for 6 years to provide transparency on Governance across Sports associations and codes.
Because the platform is in the cloud, all organisations in the community can have access to the Governance tools and obtain visibility of their performance relative to their peers.
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