A guide to CSR to ESG and back again
A guide to ESG
ESG (environmental, social, governance) is an evolution of what was once known as CSR (corporate, social, responsibility).
Ultimately you could call it ESG / CSR 2.0 / Social value. But the sentiment remains the same – it’s time for businesses to make a genuine social impact.
This guide to ESG is perfect for any non-ESG/ CSR/Social Value specialists looking to make that impact.
What is ESG?
ESG (environmental, social, governance) was originally coined to help ethical investors decide how to invest in companies against these criteria, rather than on purely financial terms. Heavily regulated industries such as financial services and the government are mostly au fait with the term, as the regulating bodies have encouraged embedding ESG within businesses. However, the term is now regularly replacing CSR and has a far greater focus on the impact a business has on its wider world. That said, the legacy link to risk assessment and investment is off-putting to some practitioners.
Why should businesses care about ESG?
In the latest Edelman Trust Barometer Report, themes of ESG reverberate throughout as being important factors when it comes to trust. And people want businesses to engage in such issues more, not less.
52% say that business isn’t doing enough about climate change. Conversely, only 9% say business is overstepping the mark – which could be a nod to the widespread ‘greenwashing’ which is loud, but without tangible impact.
A further 68% want their leaders to step up when it comes to ESG matters, taking action rather than waiting for government mandates or direction.
How can I make ESG work for my business?
Download our guide to ESG to discover:
- The new landscape of evolving CSR which responsible businesses need to navigate
- When and how to bring your people on the journey
- Tips from leading CSR and culture experts
- Case studies of those already taking the new era of CSR seriously
- Our process to create and embed a successful culture to drive authentic social impact