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Our report, The State of Social in ESG, published in collaboration with Argyle, was featured in the Financial Post on November 17th, 2022. View the excerpt below and read the full coverage here.
Impact of the ‘S’ in ESG found lacking in the real world
New study finds gap between what companies are setting out to do on social issues and what can be measured
Environmental concerns have dominated the conversation when it comes to ESG risks, but the growing focus on the “social” component is prompting a search for ways to better assess corporate performance on issues ranging from diversity to employee mental health to human rights.
A new report called The State of Social in ESG, based on a survey of North American companies and employees, found that there is a gap between what companies are setting out to do and what can be measured in the real world.
For example, the report found that close to half the participating organizations have a human rights policy, but only half within that group extend the policy to their supply chain.
In another instance, while 68 per cent of firms have established a formal diversity, equity and inclusion policy, only 21 per cent are conducting third-party audits on their DEI practices.
There are “gaps in actions that generate tangible outcomes, such as those related to hiring, procurement and supply chain,” said Dustyn Lanz, senior adviser at ESG Global Advisors, which led the survey alongside public relations firm Argyle.