ESG at Unia Property Group

The board of directors of Umania Property Group (UPG) is preparing to discuss an ESG (environmental, social, governance) strategy and how it should be managed. The third-largest real estate developer in the country (Umania) has been growing fast despite COVID-19 and market turbulence. In the last three years it has undergone organizational and digital transformation, and has entered new market segments and business lines. Its financial and operational performance have radically improved. However, progress in ESG is limited. A consulting company has been engaged to conduct an ESG audit and make recommendations for a potential ESG strategy. On this basis, management has prepared a roadmap to be discussed at the board meeting. The CEO believes that the board should approve ESG strategy and monitor its implementation, leaving the execution to management. The CEO wants to create a new position - ESG Officer - reporting to the chief executive, with responsibility for implementing ESG strategy, creating an ESG management system, educating managers and workers in ESG philosophy, and interacting with external stakeholders. UPG’s directors have different levels of experience and interest in ESG. The upcoming board meeting is the setting for the role-play.