London, UK: Toyota Material Handling Europe has formed an Environmental, Social and Governance committee as part of its commitment to sustainability.
The new team will help shape Toyota’s strategy and decision making as the company continues its progress towards becoming a highly sustainable organisation, the company says.
Tom Schalenbourg, director – sustainable development, Toyota Material Handling Europe, said:“Every sustainability challenge is inherently cross-functional, so it makes sense to put together a team of directors representing each TMH Europe business function. The formation of the ESG Committee will help us to support our management and gain momentum as we continue transitioning to a more sustainable business.”
ESG is a set of standards measuring a business’s impact on society and the environment. The standards cover areas such as how transparent and accountable companies are in terms of their leadership, executive pay, audits, internal controls and shareholder rights.
In the UK, environmental, social and governance is considered an increasingly important component for business growth, according to the CBI, while research by McKinsey found that customers in a range of industries are more willing to buy brands that they perceive to be ethical.
