Companies are organizations with tremendous power and responsibility, not only expected to be profitable but to listen and share their success with their stakeholders.
In the past, stakeholders were owners and employees; nowadays, also customers suppliers: communities, investors, media, trade unions, or government agencies are within this circle.
An example of how this is not just ethical but also economically efficient is when customers make their decisions based on their supplier philosophy and values. Financial institutions are also more and more taking into consideration transparency practices as a metric to analyze creditworthiness. And it has been demonstrated that talent is attracted to organizations with inclusive practices and respect for the personal sphere of the employee.
To strategize about your ESG practices is moving towards a more positive impact space and a way to contribute to society and to be regarded as a forward-thinking leader.