ESG = Sustainability …

Hi, I’m Jamie Davidoff, founder, and CEO of Spark Success, where we work with leaders who want to make a positive impact for themselves, their teams, their organization, and the world.

Today we are talking about…..

ESG = Sustainability … what does this really mean?

Have you heard of this term? Do you wonder what it means in terms of your impact as a leader? It is a term that is often used by financial specialists and professionals to establish organizational measures of sustainability and by investors to choose sustainably responsible investments.

ESG stands for the words: Environmental, Social, and Governance.

1. Environmental – what kind of environmental impact does the company have?
2. Social – What social impact does the organization have within and outside of itself? How are diversity and equity addressed? What are the hiring practices? What is the culture like?
3. Governance – What ethics does the organization live by? How much do the senior leaders get paid? What is the representation of the leaders?

If you’re like me, ESG is not easily recallable. More and more, I have been reading about how this term is not resonating with people. In addition, it doesn’t speak to people in general but more to the financial world. What else, then, can we refer to for the meaning of sustainability?

An alternative that represents sustainability is what are known as the 5 Ps: People, Planet, Prosperity, Partnership, and Peace. These 5 Ps are 5 categories used to describe the UN 17 Sustainable Development Goals. Here’s a snapshot of what they stand for:

1. People – “end poverty and hunger, ensure all human beings can fulfill their potential in dignity and equality and in a healthy environment”
2. Planet – “protect the planet so it can support the needs of the present and future generations, address and handle climate change and environment protection” .. without which “the trajectory will lead to significant risks to health, livelihoods, food security, water supply, human security, and economic growth”
3. Prosperity – “ensure all human beings can enjoy prosperous and fulfilling lives and that economic, social, and technological progress occurs in harmony with nature”
4. Peace – “There can be no sustainable development without peace and no peace with sustainable development … foster peaceful, just, and inclusive societies”
5. Partnerships – “a spirit of strengthened global solidarity” – collaboration across geographies and sectors”

As an individual, leaders, or business founders, we can look at the 5 Ps and evaluate where we are and would like to make a bigger positive impact.

I’m curious to know how these resonate with you. Is your organization considering or currently working on ESG/5P initiatives? How can you as a positive impact leader bring awareness to your organization and your teams around these initiatives? Let me know your thoughts in the comments.

If you’d like to pursue a more detailed conversation around these important topics and how you can get more deeply involved and how coaching can enhance these initiatives, consider setting up a complimentary exploration call with me, the link is in the comments.

If you have additional contributions to the topic, I’d love to hear your comments! Until next time, keep up the great work!