Three parts to this post:
- What is ESG?
- What are those conflicting reports?
- What does this all mean for practitioners?
Part 1
OK, it’s time for me to ‘fess up.
I am confused by “ESG”.
It seems to be the same as corporate social responsibility, (CSR) which was quite the fad only a few years ago. (Read this for an explanation of the difference between CSR and sustainability. I’m not sure there is a practical difference.)
My take is that it’s about organizations, especially for-profit corporations, being told (and complying) that they have a responsibility to the community to contribute to the fight against global warming and other social issues, like slave labor. (I’m not going to get into the debate between those who believe global warming is primarily man-made, and those who dispute that notion. My personal perspective is that it’s here and we need to do something about it!)
People didn’t get on board with CSR, even though there were standards like ISO 26000, “defined as the international standard developed to help organizations effectively assess and address social responsibilities that are relevant and significant to their mission and vision; operations and processes; customers, employees, communities, and other stakeholders; and environmental impact”. This article details…
