Excerpt
September 20, 2024, Opinion: "ESG is at an inflection point. It has come to represent a broad and inchoate aspiration for what business should be doing beyond maximizing shareholder value. With ESG advocates on the defensive, business leaders need a new roadmap to determine which factors to incorporate into their business strategies and operations – and their political advocacy – and how they will communicate this to their stakeholders. Leaders should adopt a two-pronged approach: 1) Identify the sustainability issues that have the most potential impact on the bottom line and solve for them; and 2) Identify the most material negative impacts your firm is having on society and solve for them. Both of these require scanning for the biggest opportunities and threats that environmental, social, and governance issues pose to your company’s short- and long-term competitiveness."