ESG Policy

  • 1. Scope

    1.1. This Policy applies to the operations and strategic direction of the London Business School (“LBS” or the “School”) Student Association (the “SA”), and all LBS club, society and student-led activities that occur within the SA infrastructure.

    1.2. This Policy does not extend to those activities that are the responsibility the School. Such activities fall within the scope of the School’s ESG policy. Where activities fall within the scope of both the School’s ESG policy and this Policy, appropriate action should be taken to comply with both. Where the two policies directly conflict such that it is not possible to comply with both, the School’s ESG policy should be upheld, and appropriate action should be taken to ensure consistency between the two policies.

    1.3. References to “we” refer to the LBS SA, on behalf of the wider student body.

    1.4. References to “stakeholders” or the “community” include all those who interact with the School, including but not limited to: current students, prospective students, alumni, partners, faculty, School staff, individuals and companies invited to recruit from or speak at the School, and the wider communities within which LBS is geographically located.

  • 2. Purpose

    2.1. The purpose of this Policy is to set out the principles and guidelines relating to all matters Environmental, Social and Governance (“ESG”) as are relevant to the activities in scope of the Policy, as per clause 1.

    2.2. Vision

    To become a driving force within the LBS community in advancing sustainable business practices, promoting social justice, and upholding the highest standards of governance, in order to prepare our members to be responsible leaders in the business world and improve our members’ and other stakeholders’ experiences with the School.

    2.3. Mission

    Our mission is to champion environmental sustainability, social responsibility, and good governance within our student community, as well as to inspire future business leaders who prioritise ESG issues. We will actively seek out opportunities to uphold the ESG values as articulated in this Policy, and promote, through advocacy and engagement, initiatives that empower students to become sustainability leaders within their future organisations. Through transparency, accountability, and ethical behaviour, we will ensure that our activities and decisions align with our ESG principles, and hold ourselves and others in the community to the highest standards of conduct.

  • 3. Definitions

    Environmental The environmental aspect of ESG policy refers to the impact of the SA and wider student body on the natural environment, both directly and indirectly (I.e. through advocacy efforts). This includes elements such as carbon footprint, waste generation, energy consumption, and other environmental factors.

    Social The social aspect of ESG policy refers to the impact of the SA and wider student body on people, including its members, stakeholders, and the community at large. This can include issues such as equality of opportunity, diversity, inclusion and belonging (“DIB”), and community engagement.

    Governance The governance aspect of ESG policy refers to the SA and clubs' management and decision-making processes. This can include issues such as transparency, accountability and ethical practices

  • 4. Policy Statement on Environmental Factors

    4.1. Sustainability

    We are committed to minimising our environmental impact across all our activities, including events, travel, and other activities related to student life at the School. We will look to adopt and advocate for sustainable practices that reduce waste, energy usage, and carbon emissions, and promote the use of sustainable materials. We will take measures to understand the environmental impact of student-organised events and encourage organisers to be mindful of, and actively pursue sustainability initiates where possible.

    4.2. Carbon Reduction

    We recognise that carbon emissions are a major contributor to climate change, and we are committed to reducing our carbon footprint. We will advocate for the prioritisation of environmentally friendly travel options, such as public transportation and cycling, and the minimisation of air travel where possible.

    4.3. Advocacy and Engagement

    We recognise that promoting environmental sustainability requires collective action and engagement with stakeholders. We will actively engage with the School, businesses, decision-makers, and the wider community to promote sustainable practices and technologies.

    4.4. Future Sustainable Business Leaders

    We recognise the role of education in shaping the future of environmental sustainability and in developing the next generation of sustainability leaders. We will advocate for more sustainability in the curriculum and research activities of the School, and for the environmental responsibility of companies that recruit from or speak at the School. We will also be mindful of the environmental impact of companies invited to recruit from and speak at the School, and will encourage transparency to facilitate student decision-making that takes into account the sustainability record of those companies.

  • 5. Policy statement on Social Factors

    5.1. Inclusion and Diversity

    We are committed to promoting a culture of inclusion and diversity across all aspects of the School. We believe that diversity drives innovation and creativity, and we will strive to create a welcoming and inclusive environment for all students across all programmes, regardless of their race, ethnicity, gender identity, sexual orientation, religion, or other personal characteristics. We will actively seek to recruit and support diverse candidates for SA executive committees, and take appropriate measures to ensure diversity and inclusion is also incorporated into club Executive Committee (ExCo) recruitment.

    5.2. Anti-discrimination and Harassment

    We believe that all community members have the right to a safe and respectful working and learning environment, free from discrimination, harassment, and retaliation. We will adopt and enforce, and advocate for the School to adopt and enforce, policies and procedures to report, prevent and address discrimination and harassment in a timely and appropriate manner, and will ensure that all community members are aware of their rights and responsibilities.

    5.3. Responsible Business Engagement

    We believe that companies have a responsibility to uphold high standards of social responsibility and ethical conduct. We will seek to engage with companies that share our values and commitment to social responsibility, and will encourage them to adopt and implement responsible business practices. We will also seek to promote awareness of social responsibility among our community, and will advocate for transparency around companies’ performance in related areas to enable students to factor them into decision-making.

    5.4. Community Engagement

    We believe that, as a student association within a business school, we have a responsibility to engage with and give back to the wider community. We encourage the community to seek out and participate in community service and volunteering opportunities that align with our values and goals, and will support such activities, where appropriate. We will aim to foster positive and mutually beneficial relationships amongst all stakeholders.

  • 6. Policy statement on Governance Factors

    6.1. Transparency

    We believe that transparency is a cornerstone of good governance. As such, we will strive to be open and honest in all our dealings, and to keep all students informed about our activities, plans, and decisions. We will maintain clear and accessible records of our finances, operations, and governance processes, and work with student clubs to make the same available in respect of their activities. We will also be transparent about our decision-making processes, and will seek and consider feedback from all stakeholders.

    6.2. Accountability

    We believe that accountability is a critical component of good governance. As such, we will establish clear lines of responsibility and authority, and will ensure that all members of the community are aware of their roles and obligations. We will also seek to establish clear and effective mechanisms for holding members and leaders accountable for their actions, including reporting requirements, complaints procedures and sanctions as appropriate. We will strive to be responsive to the needs and concerns of all stakeholders, and will take action to address any issues that arise.

    6.3. Ethical Practices

    We are committed to upholding the LBS student code of conduct and will ensure that our club ExCos and the wider student community adhere to the highest standards of ethical behaviour. We will hold ourselves accountable and transparently report any violations to the appropriate School authorities.

    6.4. Continuity

    Continuity is a fundamental principle of good governance, as it ensures the retention and transfer of knowledge, experience, and best practices from one year to the next. To promote continuity within our student clubs, we will establish robust procedures for the handover process, which will include clear documentation, communication, and training. We will encourage outgoing leaders to mentor their successors and to provide ongoing support and guidance as needed.

  • 7. Implementation

    7.1. The SA takes responsibility for the implementation and effective operation of this Policy and any initiatives enacted pursuant to it. The SA President shall delegate this responsibility to a specified senior role within the SA, or other appropriate body (the “Responsible Person”).

    7.2. The Responsible Person shall ensure that all reporting requirements pursuant to the Policy and any initiatives enacted thereunder are met in a timely manner, and to an appropriate standard.

    7.3. This Policy shall be accompanied by an ESG Strategy, outlining areas for improvement on environmental, social and governance matters in relation to activities within the scope of this Policy. It is the responsibility of the SA President and Responsible Person to ensure that the Strategy is reviewed and updated at least every five years.

    7.4. The SA may impose appropriate sanctions on clubs or students who are found to be in breach of the requirements of this Policy and any initiatives enacted thereunder. In doing so, the SA shall act transparently, ensuring fair warning and process is followed before imposing such sanctions.

    7.5. Students running for election for the role that is designated the Responsible Person are encouraged to refer to this Policy and the overarching principles and guidelines therein, and the accompanying ESG Strategy, when developing the platform on which they run.

  • 8. Review and amendment

    8.1. This Policy shall be reviewed on an annual basis and any changes shall be approved in accordance with the SA process for approving policies and amendments.