Best Practices: Weaving Social Into ESG And Sustainability Strategies

Summary for decision-makers
Firms are struggling to incorporate social concerns into their ESG and sustainability strategies
Addressing social factors is essential for businesses to achieve long-term stability and success
Firms are prioritizing a myriad of social factors through different approaches, as part of their sustainability strategies
Organizations face significant challenges when integrating social concerns in their sustainability strategies
Best practices for firms weaving social factors into ESG and sustainability strategies
An intentional and programmatic approach is essential for firms to translate social performance ambitions into effective actions
Buy-in from stakeholders at all levels drives sustainability performance improvements
Firms should leverage external frameworks, digital tools and consulting expertise for social sustainability

Figure 1. Ambit of social concerns
Figure 2. Snapshot of social regulations across the world
Figure 3. Human rights investigations and litigation: 2022-2024
Figure 4. Cheat sheet for integrating social into sustainability strategies
Figure 5. Questions firms should ask themselves
Figure 6. Examples of corporate social initiatives tied to business concerns