ESG (Environmental, Social, and Governance) – Social Factors – Thematic Intelligence
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ESG(Environmental, Social, and Governance)-Social Factor Thematic Intelligence Report Overview
Companies are engaging in social objectives such as human rights, diversity and inclusion, health and safety, and community impact to showcase their responsibilities towards stakeholders. Additionally, Certifications such as B Corp, donation commitments such as the 1% Pledge, and lists such as the Corporate Human Rights Benchmark (CHRB) and the FTSE Diversity and Inclusion Index provide companies with multiple benchmarks against which they can assess their social impact.
ESG (Environmental, Social, and Governance) – Social Factors thematic report provides an overview of social sustainability, one of the most important themes for companies across all industries. It includes GlobalData’s comprehensive ESG framework, covering environment, social, and governance factors. This framework can be used to assess a company’s ESG performance, the factors contributing to negative ESG consequences, and mitigating actions that can improve a company’s ESG performance.
| Major Social Factors in the ESG Theme | · Human Rights
· Diversity and Inclusion · Health and Safety · Community Impact |
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Main Factors Within Social Sustainability
The four main factors within the social segment of GlobalData’s ESG framework are human rights, diversity and inclusion, health and safety, and community impact.
Human Rights: Human rights abuses take many forms, including forced labor, child labor, displacement of indigenous people, data breaches, low wages, lack of citizenship rights, and job insecurity. One systematic assessment of corporate practices in human rights is the annual Corporate Human Rights Benchmark (CHRB), a survey of major companies in five industries: agricultural products, automotive, information and communication technology (ICT) manufacturing, apparel, and extractive industries.
Diversity and Inclusion: Discrimination based on gender, disability, religion, race, age, ethnicity, economic status, or sexual orientation continues to be a worldwide problem and a drag on the economy. Companies are leading by example in diversity and inclusion. For instance, Accenture scored a perfect 100 on the Human Rights Campaign Foundation’s Corporate Equality Index in 2023. It measures a company’s commitment to LGBTQ+ equality across five categories: workforce protections, inclusive benefits, internal training and inclusive culture, corporate social responsibility, and responsible citizenship.
Globaldata ESG Framework: Social Factors
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Scope
- This report provides an overview of social sustainability, one of the most important themes for companies across all industries.
- It includes GlobalData’s comprehensive ESG framework, covering environment, social, and governance factors. This framework can be used to assess a company’s ESG performance, the factors contributing to negative ESG consequences, and mitigating actions that can improve a company’s ESG performance.
- Taking each aspect of social sustainability in turn, this report provides examples of companies that are leading by example, and companies that have room to improve in human rights, diversity and inclusion, health and safety, and community impact.
Key Highlights
- Certifications such as B Corp, donation commitments such as the 1% Pledge, and lists such as the Corporate Human Rights Benchmark (CHRB) and the FTSE Diversity and Inclusion Index provide companies with multiple benchmarks against which they can assess their social impact.
- Companies can no longer do the bare minimum by complying with relevant laws and guidelines regarding social sustainability. They can and will be assessed against their peers by neutral third parties, allowing them to understand their shortcomings and work to improve their practices.
- Social justice movements such as #MeToo and Black Lives Matter have highlighted the consequences of unsustainable societal practices. Younger consumers expect companies to operate in line with society’s progressive stance on social issues, providing the brand’s actions authentically align with its products and values. There is a particular focus on the eradication of abuse and promotion of equity, especially in the case of marginalized and vulnerable groups such as children or ethnic minorities.
Reasons to Buy
- Sustainability used to be just about saving the planet. Today, it has morphed into an umbrella term for environmental, social, and governance (ESG) issues.
- Adopting a holistic approach that encompasses all environmental, social, and governance issues can help company leaders ensure all aspects of sustainability are covered in their ESG strategy. In 2024, companies are under pressure to be more transparent about their ESG credentials. GlobalData designed its ESG framework to help companies build trust with society and set them on a path toward a sustainable future.
- This report will help you understand what social sustainability is, why it is important, and what your business can do to become more socially sustainable.
Accenture
ACCO Brands
Amazon
Apple
BAE Systems (Maritime Services)
Balenciaga
BBC
Ben & Jerry's
Berkshire Hathaway
Boohoo
Channel 4
ClientEarth
Collab Capital
Crisis
Dollar General
Dow Jones
eBay
FedEx
FIFA
Game of Our Lives
GSK
Harlem Capital
HPE
Maggie's
Masbosques
Mastercard
Microsoft
Newmont
Nordstrom
NTUC LearningHub
Patagonia
Progressive
Puma
Repsol
Ruby Canyon Environmental
Saudi Aramco
Sephora
Shein
Shell
SkillsFuture
Tesla
The Body Shop
Unilever
UPS
VamosVentures
Zara
Table of Contents
Frequently asked questions
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How are companies displaying their responsibility towards stakeholders?
Companies are engaging in social objectives such as human rights, diversity and inclusion, health and safety, and community impact to showcase their responsibilities towards stakeholders.
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How are companies accessing their social impact?
Certifications such as B Corp, donation commitments such as the 1% Pledge, and lists such as the Corporate Human Rights Benchmark (CHRB) and the FTSE Diversity and Inclusion Index provide companies with multiple benchmarks against which they can assess their social impact.
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What are the four main factors within the social segment of GlobalData’s ESG framework?
The four main factors within the social segment of GlobalData’s ESG framework are human rights, diversity and inclusion, health and safety, and community impact.
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