ESG Unlocked: A 2025 guide for businesses

Guiding Businesses Towards ESG Goals in 2025

As part of our ESG Unlocked series, we’re excited to welcome Stephanie Norrell, VP Global Growth and Executive Director of ITL Biomedical—a global leader in medical technology, specialising in innovative devices for blood management and clinical procedures. BayNel has been proud to support ITL on their ESG journey over the past several months.

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Question 1: How is ESG impacting your business strategy for 2025 and beyond?

Our business has always been mindful of the environmental and social impacts of our operations. Over the past 12 months, we’ve seen a significant shift in how ESG influences our strategy. While we are not yet required to comply with new ESG regulations due to our size, we recognise their importance and the impact they have on our clients.

Many of our clients have set ambitious environmental and social targets, requiring more data and transparency from their supply chains—including us. To meet these expectations, we’ve formalized our carbon footprint, addressed EcoVadis requirements, and developed a strategic plan for 2025 and beyond. These steps have helped us better understand our performance and establish clear goals for improvement."

Question 2: What is the biggest ESG challenge for your business this year?

Decarbonisation is our biggest challenge this year, but we are also deeply focused on addressing social impacts. Our clients are under pressure to cut emissions to meet Net Zero targets while balancing rising operational costs and competitiveness. For us, this means ensuring our own decarbonisation efforts are actionable and credible, not just aspirational.

Equally important are social issues like health and wellbeing, labor standards, and safety—especially for our team at our manufacturing facility in Malaysia. Balancing environmental and social priorities is essential for our business to thrive, and we are committed to achieving both."

Question 3: What is the biggest ESG opportunity for your business this year?

ESG presents a powerful opportunity to rethink our business model, enhancing both sustainability and resilience. For ITL and SMEs like us, this means taking proactive steps to reduce emissions and build robust environmental and social programs.

By demonstrating our commitments, we strengthen client relationships and unlock new opportunities in a marketplace that increasingly values ESG leadership. It’s a win-win for everyone involved."

Question 4: What one piece of advice would you give other SME businesses in 2025 who may be thinking about their sustainability/ESG strategy?

My advice to SMEs is simple: start now. Sustainability and ESG are essential for long-term success, customer trust, and regulatory readiness.

Focus on what matters most to your business and your customers. With limited resources, we prioritized understanding our impact by calculating our carbon footprint, benchmarking through EcoVadis, and engaging with customers about their ESG expectations. By starting small and building incrementally, you can create a strategy that aligns with your business goals and sets you up for sustainable growth.