In our rapidly evolving world, Environmental, Social and Governance (ESG) strategies are guiding many businesses as they seek to manage risk, be at the forefront of innovative practices, and embrace new opportunities that arise. https://environmentalsocialgovernance.com.au/
In recent years, Diversity and Inclusion (D&I) has found a seat at the table during ESG discussions – and rightfully so. Encompassing more than demographic representation, D&I recognises the myriad of benefits, perspectives, and experiences that people bring to the workplace, and how these lead to better customer service, decision-making, financial performance, innovation, and wellbeing amongst workers.
Most organisations initially consider how D&I can support their social arm of ESG strategy. Covering a huge breadth of societal and workplace issues, the ESG social limb delves into common D&I focus areas such as human rights, social justice, community engagement, human capital development as well as health and safety. However, D&I should be embedded throughout economic and governance strategy and reporting as well.
From an environmental perspective, equity and inclusion principles can support ethical decision making and workplaces practices. Consider the unique rights of, and connection that First Nations people have to land and water. Those leading environmental initiatives within your business should respectfully engage with, and include First Nations people into their environmental projects to benefit the business, First Nations communities, as well as the planet.
Governance strategies should ensure that leaders and workers behaviour aligns with inclusive and respectful behaviour, that mechanisms are in place to dismantle systemic bias and discrimination, targets are set for diversity representation across the business, and that remuneration (such as the gender pay gap) are monitored and reported on. Ask any D&I professional, they have long worked across all these areas and advocated for improved policies, financial support and leadership commitment to enhance corporate behaviour, workplace inclusion, and protection of human rights.
By integrating D&I into the foundations of your ESG Strategy, you take a holistic approach to your business commitments, and the opportunity to genuinely, and respectfully approach complex environmental, social and governance issues. D&I principles can set your organisation up to build meaningful and respectful relationship both internally and externally, supporting you through the many inevitable challenges that arise whilst implementing your ESG commitments.
