Menzies Unveils ESG Consulting Offering
Menzies, a reputable professional services firm, has broadened its range of business advisory services to include the development of environmental, social, and governance (ESG) strategies. This newly introduced service aims to support organisations in enhancing their resilience and sustainability.
In today's economic and societal landscape, ESG considerations are playing an increasingly crucial role, and consumers are actively favouring companies with vital ESG track records. In light of this trend, the global ESG consulting market is expected to experience robust growth, with a projected double-digit compound annual growth rate leading to estimated revenues of $16 billion by 2027.
Taking advantage of this burgeoning market, consulting and accounting firms are rapidly establishing their own sustainability divisions. Menzies is the latest firm to join this movement, launching its ESG consulting service. Spearheaded by Richard Singleton, this mid-tier professional services company offering aims to empower clients in their journey towards greater resilience and sustainability.
Commenting as Head of Finance and Sustainability at Menzies, Singleton stressed the growing significance of a well-crafted ESG strategy for business success, noting its influence on a company's reputation and identity. With ESG performance now a standard consideration in various business interactions, such as pitching for new opportunities or attracting talent, organisations must respond effectively and confidently to such inquiries.
Menzies, headquartered in Surrey, is a long-established professional services firm founded in 1912. As one of the UK's largest regional firms specialising in accounting and advisory services for privately owned businesses, Menzies operates across eight offices in London and the South of England. Its expertise spans sectors including healthcare, hospitality, manufacturing, property, retail, transport, and technology.
Menzies' new ESG services team offers comprehensive support to businesses, ranging from developing and implementing new ESG strategies to evaluating and optimising existing approaches. One notable service gaining popularity is 'carbon footprinting,' which assesses an organisation's environmental impact to identify emission reduction opportunities. The team also explores social value creation, highlighting the positive impact on employee engagement and company culture to attract and retain talent.
Singleton further emphasised that businesses need not navigate the complexities of ESG alone, and taking proactive steps to adopt an ESG strategy can futureproof their operations. By setting attainable short- and long-term goals and demonstrating progress, companies can bolster their growth plans while fostering a content and committed workforce.
Menzies' announcement follows a recent trend of consulting firms bolstering their ESG offerings. For example, the sustainability group Anthesis introduced the Anthesis Impact Tracker to assist local authorities in accelerating climate action through advanced monitoring, reporting, and decision-making. Additionally, experienced professional Trevor Hutchings joined international consultancy BIP as a Partner, working to enhance clients' ESG performance.
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