CSR vs ESG: Understanding How You Can Increase Your Social Impact
One of the most welcomed trends in today’s rapidly shifting business landscape has been a greater focus on business purpose. Consumers, investors and workers are increasingly focused on sustainability and social impact, as 70% of Americans believe organizations should implement better practices. As more businesses commit to balancing profit and purpose, sustainability and social responsibility have risen to the top of many organizations’ priorities.
Adapting business values to meet stakeholder needs is now critical for business growth, whether driven by consumer and investor demand or the will of employees and corporate leadership. In fact, 77% of customers are more likely to purchase from an organization with socially-conscious operations.
Knowing what needs to be changed is the first step toward creating values that will help your company grow internally while also attracting new customers and investors. Understanding the differences between corporate social responsibility (CSR) and environmental, social, and governance (ESG) policies can help you boost your social impact and satisfy your stakeholders’ demands.
In this eBook we’ll explore:
- How you can measure and improve your social impact.
- What differentiates CSR and ESG.
- How to easily implement these policies into your business.
Your business values serve as the foundation for all you do. You must continually evaluate your organization’s foundation to keep it strong and ensure it aligns with what matters to you and your customers, adapting and evolving your organizational culture when necessary.
Values are guiding principles or a moral code that influences how your organization works. These beliefs unify the organization to pursue a common objective and attract customers who share the same principles.
Your company’s ESG impact can be measured and informs consumers, investors, and other stakeholders about how your business affects the environment and communities in which it operates.
