Stand Up & Be Counted
The COVID pandemic has accelerated the growing groundswell of consumer pressure on corporates to take a more proactively caring approach to the way they do business. To maximise appeal to potential investors and customers, organisations now need to be clearly and, more importantly, measurably improving the world around them.
ESG reporting, although having been established for some time, has, in the past struggled to define and measure the 'S' or Social aspect of corporations' impact. However, the early days of the global pandemic brought 'S' into sharp focus with UK companies such as JD Wetherspoon and Sports Direct receiving widespread criticism for their policies regarding staff welfare. Across the world, there has been a widespread increase in consumer and investor pressure on corporates to do more than just talk about social impact. Scrutiny is now firmly on the evidence of what companies are DOING rather than SAYING.
Businesses need to be open about their ESG pedigree in order to win investment.
Alva Group blog 2021
The importance of creating a good, corporate culture was set out by the Financial Reporting Council (FRC) within their 2018 update: "To succeed in the long-term, directors and the companies they lead need to build and maintain successful relationships with a wide range of stakeholders. These relationships will be successful and enduring if they are based on respect, trust and mutual benefit."
With over 15 years of experience in creating award-winning projects dealing with toxic social issues, we can help organisations of all sizes maximise their 'S' Factor. The document below outlines three key principles to adopt in creating successful social impact initiatives. If you'd like to find out how we can help you get the most from your 'S' Factor contact us@ashaandco.uk
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