Is there an 'S' in your ESG strategy?
Social Traders
Unlocking business for good To create a fairer, more equitable and sustainable Australia
Tara Anderson , Social Traders CEO, unpacks the missed opportunity that the 'S' plays in ESG.
You’re probably familiar with the ‘E’ & ‘G’ elements of ESG (environment and governance). But what about the ‘S’ (social)? This is where real competitive advantage lies.??
The question is, how are you going to capitalise on the opportunity??
You might not know it, but there’s an entire sector that’s road-tested the ‘S’ in business globally, for decades. They’re social enterprises, and we can show you how to replicate their successful ‘S’ business models.?
Social enterprises are businesses that exist specifically to create positive impact. There are over 12,000 across Australia. They contribute $21.3 billion to the economy and employ over 206,000 people. They offer a ready made solution to a values-driven economy (read more about my thoughts on that here).? ??
Big companies are already making the switch to social enterprise models;?
The ‘S’ in ESG is the next frontier. And doing nothing is no longer an option if you want to remain competitive in the long run. The leaders in your industry will already be ahead.???
Or think of it this way.
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You could come home at the end of the week and tell your partner/kids/friends that you made some sound business decisions to increase profit for shareholders. Or, you could tell them you helped remove plastic from the ocean, helped women escaping domestic violence to recover their sense of self-worth, and helped people with disabilities find jobs.??
Either way, 2023 is the year to develop your ESG strategy. And your ‘S’ strategy is the best place to start if you want to be one of the frontrunners in better business.??
Now is the time – don’t get left behind.?Get a glimpse into how you can embed ESG best practice via the free resource at the bottom of this article.
Social Traders is Australia's leader in social enterprise procurement and we work with businesses on ESG. We specialise in ‘S’ through our social enterprise community. Social Traders is the partner that can create market-leading ‘S’ outcomes that are the right fit for your business, based on deep global knowledge of what works.
Tara has worked with hundreds of social enterprises and for-purpose businesses across Australia, the UK and Europe. She researched social enterprise business models around the world through her MBA in the UK. She has a deep understanding of how business can create social outcomes. She’s passionate about seeing more businesses take up the opportunity – to create a more equitable world, for all of us.?? ??
Download the ’13 ways you can build the ‘S’ into your ESG strategy, from the article here and learn how you too can lead the charge in business for good.
Industry Engagement Manager | MBA, Solution Sales
2 年I have seen some companies that do address “s as in social” but their initiatives are limited to People & Culture and Human Rights in supply chain but they do not have any social procurement or social impact programs. Perhaps there needs to be more education with suppliers of corporations that have ESG mandates. It’s interesting that government tenders don’t lend much response space for social enterprises to demonstrate the social impact value to the community as a whole. It is now possible to quantify the extra value that a social enterprise is adding in educating disengaged youth or empowering young women. If there’s a siloed approach to value to a specific service then they are not getting full benefit for every dollar spent
CEO ,Founder and social entrepreneur
2 年It is indeed. Cultivating Community is well placed to support the E the S and we can help you with the reporting in the G. As an organisation working in green and food system space that also is investing in CALD, public and social housing communities with robust reporting and evaluation we would love to hear from the corporate and government members of social traders. We are fit for purpose and fit to go.
Marketing and Communications Coordinator, Senior Associate
2 年Such a critical piece ??
Head of Social Impact & Engagement | Storyteller for social change | Inclusion ally | Thought leader
2 年I think you will find this one a good read Andy Li ??