Aligning ESG Strategy with Broader Environmental, Economic, and Social Goals

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Hitting the Reset Button on ESG

Aligning ESG Strategy with Broader Environmental, Economic, and Social Goals

15 July 2024 / Quick Take

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Developing an effective corporate ESG strategy requires balancing financial goals with broader environmental and social aims while meeting the evolving needs of stakeholders. Our recent poll shows that 54% of executives believe their ESG strategy aligns very or extremely well with broader environmental goals such as reducing greenhouse gas emissions. However, fewer see strong alignment with economic (41%) and social objectives (33%). This likely reflects the greater clarity and international consensus around environmental targets.

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This finding highlights the complex nature of integrating ESG considerations that both align with business operations and contribute to wider societal benefits. Companies can make progress in all areas by identifying relevant environmental, economic, and social issues that are material to their industry, geography, and business strategy. Then, firms can address these issues through core activities in the workplace (workforce and operations), marketplace (products, services, supply chains), and public space (philanthropy, government relations).

Most companies have more effectively tied their ESG strategy to broader environmental goals than economic and social objectives

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