Skills 360 – What is ESG: Environmental, Social and Governance

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Welcome back to the Business English Skills 360 podcast for today’s lesson on “ESG,” or the environmental, social, and governance commitments companies make.

Along with DEI, which we’ll talk about next time, ESG is one of those acronyms that seems to be everywhere these days. Some companies have made huge strides in ESG, and many of them are reaping the rewards. Others have just started down the path. And then there are some that are resisting, for better or worse. Whatever the situation in your company is, it’s important for you to know what ESG is all about.

On a very simple level, ESG is about paying attention to the non-financial impacts, risks, and opportunities in business. The “E” in ESG stands for “environmental.” This refers to a company’s impacts on the environment, its greenhouse gas emissions, its care for natural resources, and its resilience in the face of climate change.

The “S” in ESG stands for “social.” This pillar is all about the company’s relationship with it stakeholders, both internal and external. That includes employee engagement, as well as relationships with the surrounding community and its people. Finally, the “G” in ESG stands for “governance.” This is all about ethical and accountable leadership, board oversight, equity, and transparency.

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