The Importance of the 'S' Component in ESG

📆 11/9/2023 5:56 PM
📰 mailandguardian

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ESG,'S' Component,World Economic Forum

The World Economic Forum highlights the increasing importance of the 'S' component in ESG, as institutional investors in the US place more emphasis on it. With the impact of the Covid-19 pandemic and economic trends, the focus on the 'S' component continues to rise.

While organisations have been dedicating much needed commitment towards progressing tangible efforts geared at the “E” and “G” components of the ESG (environmental, social and corporate governance) compass, it would be myopic to not dedicate equal commitment to the “S” component because ESG components are systemic and “S” is where much of the focus on the human being lies.

The World Economic Forum in a paper published in 2022, drew attention to the percentage increase in importance placed on the “S” component of ESG by institutional investors in the United States, indicating that it rose by 15 points to 69% from 2019 to 2020. After the Covid-19 pandemic and coupled with key economic trends of the Great Resignation and increasing levels of burnout, the importance of the “S” component continues to ris

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