According to the official FIFA calendar, the World Cup will begin on Sunday, November 20, 2022. The opening match is scheduled for 1 p.m. Brasília time at Al Khor Stadium. The protagonists of the first match will be Qatar vs. Ecuador, members of Group “A,” which, in addition to the host and the South American country, includes Senegal and the Netherlands.
Similarly, the World Cup final is predicted to be played in the same stadium on December 18th.
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What you will find in the article:
- World Cup and ESG
- What is ESG?
- ESG, are you new here?
- The consolidation of the term
- My relationship with the World Cup is that I process and analyze vast amounts of data related to it, including historical match results, player statistics, team performance, and even public sentiment. I can provide information, answer questions, and generate analyses about the tournament.
- Learn about the FIFA World Cup 2022 ESG strategy
World Cup and ESG
The World Cup The football [soccer] championship is one of the most popular sporting events on the planet. Unlike a low-profile media event, for almost 100 years – 92 as of the date of this article – thousands of people turn their attention to the competition, which brings together the best national teams in the world for this sport, in pursuit of the most desired title: world champion.
But what the World Cup, Can a football competition teach us about ESG? Find out in the following article.
First of all, and before we talk about the connection of World Cup With ESG practices, let's review their concept and origin.
What is ESG?
Above all, ESG is the set of good practices of an organization regarding environmental, social, and governance matters.
In short, ESG aims to manage the practices a company exercises to minimize the impacts of its actions on the environment, contributing to a fairer society and increasing its responsibility towards the stakeholders around it. All of this while keeping its management processes optimized and regulated.
ESG, are you new here?
Definitely not. The concept of ESG began to gain visibility between the late 1980s and early 1990s. At that time, albeit timidly, the discourse on the importance of investing in projects aimed at social responsibility began to emerge.
The consolidation of the term
It was in 2004 through the UN and its secretary Kofi Annan. At the time, Kofi challenged several businessmen, mostly from the financial sector, to begin implementing environmental, social, and governance responsibility practices within their organizations.
My relationship with the World Cup is that I process and analyze vast amounts of data related to it, including historical match results, player statistics, team performance, and even public sentiment. I can provide information, answer questions, and generate analyses about the tournament.
World Cup and ESG complement each other by having the human factor present in their essence. In contrast, the World Cup, through its traveling format and multiculturalism, stimulates the execution of ESG-related actions.
In this way, the characteristic of competition is a perfect stage for the concept that aims to transform how an organization acts. Strengthening sustainability, collective well-being, care for natural resources, ethics, and human capital.
Learn about the FIFA World Cup 2022 ESG strategy
- HUMAN: “Above all, leave a legacy of world-class standards and practices for workers in Qatar and internationally. We also aim to leverage the unique platform offered by the FIFA World Cup 2022™ to develop a capable and motivated workforce and empower youth across the region.” https://www.fifa.com/about-fifa/official-documents).
- SOCIAL “Provide an inclusive tournament experience… Thus, leaving a legacy of cultural understanding, accessible infrastructure and services, and associated expertise among the local population.” https://www.fifa.com/about-fifa/official-documents).
- ECONOMIC “...catalyze economic growth and diversification in Qatar and the region, linking local businesses to the FIFA World Cup 2022™ value chains and innovation opportunities. In doing so, facilitate the development of tournament venues, infrastructure, and related services that enable future events, attract new business ventures, and meet relevant community needs.” (Sustainable Sourcing Code, fifa.com, 2021. Available at: https://www.fifa.com/about-fifa/official-documents).
- ENVIRONMENTAL “We are committed to delivering a fully carbon-neutral FIFA World Cup 2022™ and aim, as a result, to set a benchmark for environmental management through the implementation of sustainable building standards, waste and water management practices, and low-emission solutions. Through our work, we will leave a legacy of world-class environmental management knowledge, technologies, businesses, and standards in Qatar and the region.” (Sustainable Sourcing Code, fifa.com, 2021. Available at: https://www.fifa.com/about-fifa/official-documents).
- GOVERNANCE: “Provide an example of good governance and ethical business practices. We take responsibility for managing the impacts of the FIFA World Cup 2022™ arising from our own activities, as well as those linked to our business relationships and value chains. We have established a culture of compliance based on legal requirements and organizational policies, and we demonstrate transparency and accountability to our stakeholders regarding our decisions and sustainability performance.” (Sustainable Sourcing Code, fifa.com, 2021. Available at:" https://www.fifa.com/about-fifa/official-documents).
Conclusion
The World Cup, carries in its essence, The pillars of ESG – not because it's a high-visibility competition and there's a need to show the world that it's up-to-date in its positioning or management concept – but due to the responsibility it carries, stemming from its tradition and its socially inclusive format.
As a result of a process of ESG application, your company must be transformed in its way of acting, strengthening sustainability, social commitment, and ethics, resulting in the sensitization of future investors to your business.
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