Émilie Coralie Bouchard’s Post

Excellent piece by Robert G. Eccles for the Harvard Business Review. Robert concisely interrogates the controversial 'ESG' debate in business, demonstrating that while both sides may share differing views on the subject, at its core, the conflict comes down to one fundamental question: What does it mean to be a responsible business?   The article provides three actionable strategies companies can use to navigate a clear path towards corporate responsibility: defining purpose with precision, embracing transparency in sustainability reporting to combat greenwashing, and engaging constructively with all stakeholders.   A must-read for organisations seeking practical guidance on approaching sustainability in today's complex business landscape. To read more ESG and sustainability related insights, you can also visit our webpage here: https://lnkd.in/ejhcTRxD #ESG #sustainability #corporateresponsibility

"At the core of the ESG debate is the fundamental question of the role of the corporation in society: What does it mean to be a responsible business?" Robert Eccles put together a thought-provoking article that frames some of the toughest issues in the #ESG discussion. It highlights the crucial need to examine the role of companies in society, the balance between shareholder and stakeholder capitalism, and the approach to managing negative externalities. Robert Eccles pragmatically offers three strategies: 1) Be Clear About Your Purpose 2) Be Candid in Your Sustainability Reporting 3) Be Constructive in Your Shareholder and Stakeholder Engagements #sustainability #responsiblebusiness

What does it mean to be a responsible business in today’s world? In navigating the complexities of ESG, we're defining the role corporations play in addressing broader societal challenges. This requires clarity of purpose and a commitment to transparency, not only in the successes but in acknowledging the limitations of what businesses can achieve. The debates surrounding single vs. double materiality underscore the need for a nuanced approach, one that recognizes both the impact on shareholder value and the broader effects on society. As corporate leaders, we must be proactive in shaping these discussions, moving beyond the noise to create sustainable solutions that serve both our companies and our communities. It’s time to take a step back, reassess our strategies, and ensure that we’re not just talking about ESG, but actively contributing to a fairer, more sustainable future. Actions speak louder than words. #ESG #SustainableFuture #Impact

Interesting and thought provoking article on ESG by Robert Eccles in the HBR. The article proposes 3 core strategies to help companies navigate the politics of ESG, especially in the US: 1) Be Clear About Your Purpose 2) Be Candid in Your Sustainability Reporting 3) Be Constructive in Your Shareholder and Stakeholder Engagement https://lnkd.in/d282DR9i

❔ What does it mean to be a responsible business? What is the role of a corporation in society? The great debate on the topic continues. It seems that we've made a lot of progress, but as it was relevant and contentious almost 54 years ago with well-known Friedman’s article in NYT, it remains to this day. Who is responsible for building a sustainable, better future (and present)? What is the role of the government, business, NGOs, financial institutions and civil society? Is it enough to follow mandatory ESG reporting? Or in today's reality: * Single materiality or double materiality in assessing ESG performance? * Sustainable Investment or Impact Investing? * Pro-ESG or anti-ESG? 👀🔎 Great summary of current situation on the global market in the article from Sep-Oct 2024 issue of Harvard Business Review Magazine. And 3 strategies from Robert Eccles for ensuring that a company is a responsible business: 1) Be clear about your purpose. 2) Be candid in your sustainability reporting. 3) Be constructive in your shareholder and stakeholder engagement. Something to reflect on and choose/confirm your position. However, there is one statement that I like the most (and which can be applied to any modern conflict, problem and confrontation) – 💡 ‘Ignoring them (your opponents), will not make them go away” 💎 Instead, be proactive in your engagement and constructive communication with them, your shareholders, industry associations, politicians, and NGOs. #ResponsibleBusiness #Sustainability #ESG #BeyondESG #PositiveImpact

➡️It’s been a rough few years for #ESG—the popular shorthand for #measuring and #managing a #company’s #environmental, #social, and #governanceperformance. Critics on the political left believe #ESG is #insufficient for #addressing #major #societalissues such as #climatechange; critics on the right say ESG pushes a liberal agenda. The barrage of criticism has caused ESG to lose its luster among many executives. Yet the need for a transparent way to connect a company’s financial performance with its ESG performance remains. ➡️It’s time, says Oxford professor Robert G. Eccles, to take stock of ESG and chart a path forward. He acknowledges the #complexchallenges that still need to be resolved. Chief among them is whether to use single materiality (which focuses on shareholder value) or double materiality (which includes societal impact). ➡️In this article #Eccles recommends a #pragmaticapproach for #corporateleaders: ✔️clearly define corporate purpose, ✔️improve transparency in ESG reporting, and ✔️engage stakeholders constructively. These #strategies will #help #companies manage #ESGpressures by focusing on #materialissues that affect #shareholdervalue while also acknowledging and addressing broader societal impacts. 👉https://lnkd.in/emtjsqhh

This article provides a well balanced perspective on ESG and the challenges impacting both Corporates and society. It also offers a concise summary comparing single versus double materiality. Do you think the acronym ESG will eventually phase out? I do and in its place I believe we will see deeper conversations on sustainability and what it means for the environment and society. https://lnkd.in/d9shpqTv

Very insightful article on ESG. In response to the challenge posed, I wholeheartedly agree that businesses must approach environmental, social, and governance (ESG) issues with a methodical and nonpartisan mindset. It's essential to recognize that the impact of corporate decisions extends beyond profits; it touches the communities, employees, and ecosystems involved. Instead of framing ESG as a divisive issue, we should see it as an opportunity for collaboration. By focusing on shared goals—such as sustainability, social equity, and ethical governance—we can foster an environment where businesses thrive while simultaneously addressing the pressing needs of all stakeholders. Moreover, responsible companies that prioritize both shareholders and stakeholders pave the way for a new standard in corporate behavior. Embracing ESG principles can lead to innovative solutions that benefit everyone involved, rather than being mired in the culture wars. It's crucial that we, as a society, support this shift in focus. By encouraging open dialogue and collaboration between businesses, communities, and regulators, we can move past the polarization of ESG discussions, establishing a future where ethical practices are the norm, not the exception. This is not merely an aspiration but a necessary evolution in how we view the role of businesses in our world today.

A nice overview of the controversies surrounding ESG and some good examples and suggestions by Robert G. Eccles in the Harvard Business Review. My takeaways: -Have a clear purpose. -Assess/manage material risks to value creation. -Assess/manage negative impacts created by your firm regardless of their weighting in ESG frameworks and address them without hurting value. -Provide input to developing a productive regulatory environment. -Use standard frameworks (eg GRI, ISSB) to candidly report your progress. -Proactively reach out to stakeholders to have measurable, fact-based conversations (drop the rhetoric and politics). #esg #sustainability #commercialrealestate #sustainable #future https://lnkd.in/gFyVzuzT

For those of us that have been in the EHS (Environmental, Health and Safety) space, we have seen tides of interest in ESG come and go. This excellent article is written by the Cofounder of Sustainability Accounting Standards Board (SASB) which summarizes the changing World of ESG and the evolving World of Sustainability. At the heart of all this lies the important question What does it mean to be a responsible business? Responsibility could mean many things to businesses, under the lens of Sustainability, we can assign it to the three Pillars: People, Planet and Profit. #ESG #NetZero #People #Planet #Profit https://lnkd.in/gF86B2Kv