Welcome to our first 2024 edition of The Goods! We’re kicking off the year by diving into one of our favorite topics: environmental, social, and governance issues (ESG).
As we type this newsletter, organizations across sectors are analyzing their 2023 metrics and planning for future ESG-related reporting requirements. In this installment, we’ve compiled some of the latest news and emerging ESG trends and share a case study that highlights our own experience crafting a robust impact report geared towards stakeholders.
The Goods is a newsletter that helps social impact communicators keep track of the latest updates, trends, and industry best practices. This content is compiled and curated monthly by Jade Floyd, Victoria Dellacava, and Nancy Hine.
2024 ESG Trend Forecasting
Despite many vocal opponents, ESG remains an integral and necessary corporate strategy in 2024. As we all know, ESG-related issues and risks are complex. Organizations must understand the shifting landscape and attune their ESG communications practices accordingly.
Here are six predictions on the ESG themes that will dominate this year:
- Financial decision-makers will take a deeper interest in sustainability and how climate change affects the companies’ bottom lines.
- Increasingly, private firms will focus on monitoring and reporting on greenhouse gas emissions, thanks to increasing regulatory demands.
- The upcoming presidential election will no doubt shift ESG-related legislation and companies will need to prepare for the disruption accordingly.
- Biodiversity loss is a major concern for environmentalists and consumers alike. In response, investment funds with an environmental focus will become more prevalent than ever.
- More companies will take a deep dive into the practice that affect the supply chain – from labor standards to material sourcing – and improve to meet the demands of their stakeholders.
- “Greenwashing” will be more widely discussed and understood by consumers, leading to a decline of the practice.
ESG Gets a Makeover
After years of conservative pushback, organizations are now looking to rebrand their engagement with ESG issues, aiming to minimize public scrutiny while maintaining a commitment to key social good actions.
Mentions of ESG on earnings calls have declined since 2021, but companies’ commitments to responsible business practices remain strong. Trends show that more and more, businesses are leaving their traditional lofty promises behind in favor of more precise, achievable goals. Though these shifts are subtle and efforts are less flashy, this “less is more” strategy allows companies to emphasize their commitment to responsible business practices, while actively averting potential backlash.
Responsible business practices still garner positive returns, and mitigating the noise from “woke capitalism” critics will allow more space for this important work to move forward. (The Wall Street Journal)
The Raiders’ Impact Report
In 2023, GSG partnered with the Las Vegas Raiders to elevate the team and Allegiant Stadium’s impact initiatives and community-focused projects. Together, we crafted the organization’s first-ever Impact Playbook.
The Playbook draws on the organization’s impact-focused legacy and highlights the Raiders’ expansive philanthropic and ESG footprint across the Las Vegas region.
The report captures the Las Vegas Raiders’ broader vision for the future, with continued commitments to:
- Power Allegiant Stadium with 100% renewable energy
- Enhance recycling and water conservation efforts
- Expand community service in the region
- Foster a diverse workforce at every level
The inaugural Impact Playbook serves as a testament to the organization’s corporate leadership and ESG stewardship, both on and off the field.
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