Responsibility.

Responsibility can take on many different names and meanings. In the context of business, it refers to a company’s commitment to do more than just make a profit. It can involve businesses actively striving to contribute positively to the environment or even to social causes. Ultimately it defines how they conduct themselves responsibly. The name often associated with this commitment is Environmental, Social and Corporate Governance (ESG), which can be broken down into:

  • Environmental – how businesses treat the planet
  • Social – how businesses treat people
  • Corporate Governance – how businesses are being run
Although the case for a strong ESG proposition becomes more compelling when looking to combat issues such as climate change and the gender pay gap, it also makes sense from a commercial standpoint. A recent study from PWC found that 66% of respondents cited value creation as their main driver for ESG activity.

Responsibility is no longer considered a nice-to-have, it is now key in judging the value of businesses and will continue to be a core factor long into the future.

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