Social factors – Time to focus on the “S” of the ESG

There is a fundamental societal shift towards sustainability and responsibility. That is why a company's ability and commitment to include environmental, social and corporate governance (ESG) factors in its strategic mapping is becoming increasingly important to stakeholders.

Environmental and governance aspects have always held significant importance at organizations; however, factors related to the social pillar, such as diversity and inclusion, human rights, occupational health and safety and equal employment opportunities for minorities, are taking on a higher profile and gaining their due importance.

In this article, Dr. Hagen Köckeritz describes how the social criterion can be approached by organizations, correctly including this pillar in sustainability reports.