2023 was a year of contradictions in corporate social impact and ESG, equal part triumphant and challenging. Customers, investors, employees and community stakeholders have continued to call upon corporations to embrace social responsibility, from how they make their products to how they engage employees and communities, and everything in between.
Yet the challenges have also stacked up this year. New ESG regulations in California and the European Union, the Supreme Court ruling on affirmative action and wars in the Middle East and Eastern Europe are testing the resilience of U.S. corporations and the risks they are willing to take to align with their values.
Despite challenges and the recent ESG backlash, companies remain committed. Recent data supports the continued relevance of ESG practices, underlying their critical role in risk mitigation and financial success. A June 2023 study from the Center for Audit Quality found that ESG reporting among the S&P 500 is now approximately…
Read the full story from the Washington Business Journal.
