PrimeGlobal Wins IAB Award for ESG/Sustainability Initiative of the…

PrimeGlobal has been awarded the 2024 IAB Award for ESG/Sustainability Initiative of the Year, showcasing its dedication to environmental, social, and governance (ESG) principles. We were also proud to have been marked as Highly Commended in the IAB Award for Association of the year.

To access more sustainability resources, visit our dedicated Sustainability hub, including thought leadership, videos on demand, and partner resources.

PrimeGlobal continues an unwavering commitment to Sustainability, engaging member firms and clients with impactful communication and adoption across the profession and underscored by winning this award for the second consecutive year.

This recognition is bolstered by PrimeGlobal's partnership with Sumthing, an Impact Partner committed to investing in nature-positive initiatives and environmental management at live events.

To learn more about our recent initiatives and discover why we won the ESG/Sustainability Initiative of the Year Award at the 2024 International Accounting Bulletin (IAB) Awards, read our award submission below.

Partnership with Sumthing: Elevating ESG Commitment

Sumthing, PrimeGlobal's new Impact Partner, brings a fresh level of responsibility to the association's ESG efforts. By investing in nature-positive initiatives and managing environmental impacts at live events, including energy, water, and waste management, the partnership delivers tangible results. The impact of these initiatives is visualized through satellite imagery, creating a personal connection and compelling narrative for stakeholders.

Six ESG Principles of Action

PrimeGlobal and its members adhere to six ESG Principles of Action that guide their impact:

Awareness: Fostering understanding of ESG issues.
Adoption: Integrating ESG practices into operations and decision-making.
Organizing: Structuring efforts to address sustainability challenges effectively.
Trying: Taking proactive steps to implement sustainable practices.
Growing: Continuously improving and expanding sustainability efforts.
Learning: Remaining open to new insights to enhance impact.

Strategic Integration and Initiatives

Strategy 2025

PrimeGlobal has integrated ESG insights into its Strategy 2025, emphasizing the importance of building a sustainable and inclusive future.

ESG Speaker Series and Workshops

Following training workshops, PrimeGlobal launched a 5-part ESG speaker series as a roadmap to ESG implementation. This series features experts from various sectors, providing valuable insights into ESG practices.

Paperless Conferences

Celebrating a decade of paperless conferences, PrimeGlobal uses a custom mobile app for attendees, significantly reducing paper waste and promoting sustainability.

ESG Hub Page

A dedicated Sustainability Insights Hub on the My PrimeGlobal member platform features sustainability insights and thought leadership, including ESG topics, sustainable economies, responsible practices, and governance.

PrimeGlobal Planet Initiative

The PrimeGlobal Planet initiative pledges to host green events, reducing environmental footprints and positively impacting communities and host cities. Recent projects include team bike building events that donated over 25 bikes to local charities.

Member Firm Involvement

PrimeGlobal’s commitment to ESG is reflected in annual member survey responses, with 20% of firms planning to expand services to educate clients on reducing environmental impact.

Sustainability Award

PrimeGlobal bestows the Sustainability Award upon member firms demonstrating extraordinary progress in ESG practices and client service development.

ESG Journey and Stakeholder Engagement

Facilitated by member firms, the ESG Journey discusses the Principles of Action, engaging stakeholders and communicating sustainability efforts through the Sustainability Community of Practice (COP).

ESG Training Workshops

Member firm Sikich hosted a robust 2-day ESG training workshop featuring industry experts and distributing B-Corp criteria, guiding firms on achieving B-Corp status.

B Corp Certification

Over 10 PrimeGlobal firms have launched the B Corp certification process, involving a rigorous assessment of social and environmental performance and integrating stakeholder commitments into company governing documents.

First Mover ESG Group

Anticipating regulatory changes, the First Mover ESG group provides advice and leadership across global firms.

Benchmark Creation and Market-Wide Impact

PrimeGlobal annually publishes the only global association Impact Report, styled in an ESG format and publicly available on the association website. This report holds PrimeGlobal and its firms accountable by reporting ESG benchmarks and highlighting firms that champion responsible practices.

Trace Partnership

Partnering with Trace, PrimeGlobal helps firms understand their footprint and decarbonization opportunities, driving credible carbon reporting and climate action with seamless Xero integration.

Sustainability Reports and Podcasts

PrimeGlobal’s commitment to transparency is evident through widely published sustainability reports and comprehensive management approaches. The CEO's participation in the LumiQ podcast series educates listeners on the journey to B Corp certification.

Prestigious Invitations

PrimeGlobal’s ESG leadership has earned it a speaking invitation for the 2024 "B for Good Leaders" Summit and a coveted spot at the annual AICPA ESG workshop.

Global Commitment and Future Directions

PrimeGlobal’s Environmental Social Responsibility strategy aligns with the United Nations Sustainable Development Goals (SDGs), advocating for sustainable development, improved human lives, and environmental protection. By embedding ESG initiatives into its strategy, PrimeGlobal and its member firms actively contribute to an environmentally sustainable and socially inclusive future, using business as a force for good.

PrimeGlobal’s ESG initiatives have not only elevated support and thought leadership but also equipped firms with the education and expertise needed to measure and improve their impact on staff, communities, the environment, clients, and firm infrastructure. Through continuous improvement and a commitment to sustainability, PrimeGlobal sets a high standard for the accounting profession.