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In 1988 Friedman’s doctrine that favours profits for shareholders over social responsibility was challenged by a concept called social capital, which meant that a company’s public image could affect profitability as much as the cost of production. After the Exxon Valdez oil spill in 1997, most companies became acutely aware that environmental disasters not only threatened the ecosystem, the costs of remediation and penalties jeopardised their bottom line.
Temperatures are rising (and not just metaphorically) as key stakeholders anxiously anticipate the outcomes of COP28. While companies reconsider their 2024 environmental sustainability strategies, there is another aspect of ESG that deserves exploring, the social sector. In the latest edition of "Navigating ESG Comms Through the Cosmos - Sagittarius Edition", 3BL hones in on this sign’s bold quality of asking questions others are burning to know the answers to.
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