Institutions have understood that governance is not enough to maintain itself. Healthy and responsible practices are needed, especially for medium and long-term growth.
That is how the Environmental, Social and Corporate Governance nomenclature appears — the ESGs, from English Environmental, Social and Corporate Governance. This concept stems from a management focused not only on financial results and endless quantitative target spreadsheets, but also on generating social value.
The term was first published in 2004 in the Global Compact and the World Bank, with the Who Cares Wins (“Who Cares Wins”) report, a turn-of-the-millennium initiative spearheaded by Kofi Annan, then UN secretary general (United Nations Organization).
Although fundamental, the proposed question is the balance between the ESG concept and profit generation.
In health, we can say that the concepts are already interconnected. There is no way to talk about health without relating it to the generation of social value, especially in public health.
More than hitting targets for care, patients and beds, it exists to offer the best care, with the best resources, costs and efficiency. This is an account that we are always doing at the Hospital das Clínicas at FMUSP. No wonder the complex has consolidated itself as the largest in Latin America and was one of the 50 best hospitals in the world, according to an annual survey by The World’s Best Specialized Hospitals 2022, by the American magazine Newsweek.
The case of the hospital allows us to conclude that having solid values and acting with transparency towards the stakeholders linked to the institution come together with day-to-day management.
Other aspects that deserve attention are related to diversity in the team, employee engagement with social causes, in addition to ethical principles and solid governance strategies, always seeking responsibility with internal data.
Also necessary in this process is environmental governance, which can be applied in the search for energy efficiency and waste management, with the use of packaging that decomposes faster and can be recycled.
The Global Agenda for Green and Healthy Hospitals stands out in the environmental aspect, which has ten objectives: leadership, chemical substances, waste, energy, water, transport, food, pharmaceutical products, buildings and purchases.
For this, the institutions involved must choose at least two objectives and develop concrete actions, with a case study to be presented in a maximum of one year.
In the wake of COP26 (UN Climate Conference, held in Glasgow, Scotland, between October and November this year), companies have already understood that applying ESG is the correct path for efficient management, especially in the social pillar, since 2020, according to the Health Research Institute, pharmaceutical and life science companies have prioritized this aspect. Management based on ESG will lead several healthcare institutions to levels of assertiveness and excellence.
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