Harnessing Human Capital in the Quest for Sustainability
The concept of sustainability has remained a constant for many years despite changing nomenclature. Whether its Corporate Social Responsibility or Environment, Social and Governance, or any other name, it is very clear businesses need to address the needs of an increased number of stakeholders.
The Environmental aspect has been the focus in recent years, with many companies committing to emissions reduction targets and the measures needed to meet those targets. Governance is subject to stringent regulations in many jurisdictions. It is the Social aspect that now provides the opportunity for companies to show differentiation and align with their corporate North Star and purpose.
Social refers to the social impacts of a business, which can embody anything that affects people, both inside and outside the company. That means employees, as well as the communities the company operates in and its entire value chain. It includes community impact measures, employee training programmes, diversity, equity and inclusion initiatives, non-discrimination, living wage programmes, volunteering opportunities or forced labour monitoring, among other measures and initiatives.
The regulatory requirements, unlike those covering Governance, are neither clear nor consistent. On top of that, the cost of living crisis and the increasing politicisation of the sustainability agenda mean it might be beginning to slip down the list of corporate priorities.
However, it is very clear that being good to people is good business management. What does that actually look like?
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Lukasz Bochenek
Chief Executive Officer based in Geneva
Lukasz is the CEO of Leidar, where he advises global companies and international organizations on navigating complex issues and stakeholder landscapes. His approach combines strategic management, commercial law, and human-centric anthropology to deliver clear direction and impact.