Asset Management Enabling Environment, Social, and Governance Principles

This whitepaper outlines the relationship between asset management (AM) and environment, social, and governance (ESG) principles. It discusses the increasing importance of ESG practices in corporate operations and the necessity for organizations to operationalize these principles effectively. The document emphasizes that successful ESG programs require a comprehensive understanding of how business activities are managed to respect the environment, prioritize health and safety, and engage with the community. It highlights the challenges organizations face in implementing ESG initiatives and the potential benefits of aligning ESG maturity with AM maturity. The whitepaper also details specific AM competencies that can facilitate the achievement of ESG objectives, including maintenance optimization, process optimization, and risk-based decision-making. The document serves as the first in a series aimed at exploring the integration of ESG within AM frameworks, with subsequent papers focusing on the mechanics of designing ESG specifics and mapping the AM journey.