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Social
issues are among the most pressing for companies globally. The impact of the
pandemic has served to highlight their importance. However, ‘social’
factors of ESG can be more difficult for investors to define and quantify than
‘environmental' and ‘governance’ factors.
Against this background, the IRSG together with KPMG published the report Accelerating the S in ESG: a roadmap
for global progress on social standards. The report identifies
key market trends and challenges that need to be addressed to deliver further
progress. It makes recommendations for how public policy, companies and
financial markets participants can drive more socially sustainable investment.
The report recommends a global approach to social principles and standards. The
IRSG believes that this would ensure better social outcomes and would make
global markets more resilient