We all look at sustainability slightly differently. I guess akin to an inkblot test. While most of us associate it with environmental issues, as the debate matures at different scales, in companies, sectors, and regions of the world, so does our understanding of the action we need to take. Perhaps one of the reasons I find the role I play, as do we all, so compelling. Allowing us all to discover and explore how we can all play a part in economic development and social responsibility. But one thing is for sure, from the many conversations that I have on a day-to-day basis, the pace of change has quickened from a business perspective, rising to the challenge of becoming more sustainable. Making me reflect on how the topic has evolved over the past few decades and where the focus was once on the Environment alone; we see a much more rounded view. The term Environment, Social, Governance (ESG) easily trips off the tongue, and how even this is evolving and refined by some to Environment, Social and Justice (ESJ). One thing is for sure the topic of sustainability is not standing still. As our awareness grows, this allows and creates space for more individuals, organisations, and brands to demonstrate their commitment, and with this, momentum increases. This pincer movement between Business and society has grown as people will no longer tolerate worthy statements followed by futile gestures, i.e. speaking green but not acting is no longer an option.
Which made me reflect on the rise of social value, an area which is an essential ingredient as we see sustainability maturing but which isn’t regularly talked about, so worthy of some attention. Let’s start by looking at some of the terminologies. CSR, social impact, and social value tend wrongly to be interchangeable. But while their meanings do overlap, they will all mean something slightly different to different Businesses and businesses at various stages of their journey and where they need to focus.
Read more https://www.bsigroup.com/en-ZA/blog/Environmental-Blog/the-rise-in-social-value/
