Forética Launches 'Business and Social Impact Reporting: The new European Framework for Social ESRS' Report
Forética has organised the second edition of the 'DEI Business Forum - Diversity, Equity and Inclusion', in which the report 'Business Reporting and Social Impact: The new European framework for Social ESRS' was presented.
This forum was organised within the framework of the Social Impact Cluster, led by Forética and headed by Grupo Cooperativo Cajamar, ILUNION, Mahou San Miguel, ManpowerGroup and Naturgy, together with more than 60 companies.
According to data from the World Business Council for Sustainable Development, 83% of the 4,500 leading companies worldwide have accelerated their social impact commitments in the last two years. This business response is increasingly important in the face of today's inequality challenges. In this context, investors and consumers are increasingly demanding responses from companies. In Europe, regulation is one of the most important mechanisms for accelerating corporate responsibility, especially in terms of value chain due diligence or reporting and accountability.
A recent analysis by Moody's and CSR Europe, social disputes already account for 67% of all ESG disputes faced by companies worldwide, far outweighing environmental and governance disputes. In this regard, in 2025 will see the first sustainability reports in Europe aligned with the new reporting framework based on the ESRS (European Sustainability Reporting Standards), so companies should be accommodating their reporting systems by the end of this year.
Corporate social impact strategies are proving to be of increasing value to organisations, for example in terms of risk management or talent attraction, as was highlighted at the forum. Expectations on business are expanding, demanding a more committed and strategic response to key societal challenges.
Corporate social impact strategies not only offer tangible benefits such as risk management and talent attraction, but also respond to a shift in expectations towards companies, which are now expected to address social challenges in a more engaged and strategic way.
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