Outside Publication

Getting the Deal Through – Labour & Employment 2022 – Environmental, Social and Governance Considerations for Responsible Global Employers: Focusing on the ‘S’

2022

The priorities and concerns of global employers have started to significantly shift with the rapidly-changing landscape brought on by the advent of social movements such as #MeToo and Black Lives Matter and the impact of the COVID-19 pandemic. These morphing priorities are clearly visible in the growing emphasis now placed by many global businesses on environmental, social and governance (ESG) issues. Global employers have become aware that abiding by robust ethical business standards is beneficial on many levels, not least because research shows that businesses that adopt and prioritise ESG standards financially outperform their competitors over time. In recent months, a growing focus has been placed on the ‘social’ element of ESG, which concerns a business’s impact on its employees, workers, contractors and the wider community. Although measuring and reporting on the ‘S’ in ESG is, in many ways still in its nascent stages, there was considerable growth and development in this area in 2021.

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