The S in ESG matters: Here’s why!

Understanding the social criteria in ESG

• The social element of ESG has historically been overlooked by investors often because businesses have found it difficult to assess and quantify this aspect.
• In the last few years however, due to social events, organisation are now being challenged to look at this.
• Regulators are increasingly looking for social transparency.
• Growing evidence that shows better decision-making on ESG, particularly on the social, drives better corporate returns.
• However, there’s a lack of consistency around the reporting matrix.

The business case: Why is the social criteria critical

• Risk management: companies that manage their social obligation mitigate risk e.g. labour practices, community relations etc.
• Competitive advantage: Increased brand value
• Employee satisfaction and retention: Good social practices lead to higher employee morale
• Market expansion: Being socially responsible can open new markets and demographics.

How are companies integrating social criteria?

• Employee wellness programmes
• Community relations
• Advancing supply chain diversity
• Ethical consumer practices
• The social is not just about the impact on the employee but the wider social community and the impact your organisation has on them.

ESG regulation and landscape

• The ESG regulatory landscape is becoming increasingly more complex particularly in relation to the social.
• They are catalysts for profound change as they allow companies to align their practices with ethical, sustainable practices.

Key Regulations impacting social criteria

• EU Non-Financial Reporting Directive (NFRD)
• Corporate Sustainability Reporting Directive (CSRD) – all companies within the EU and companies outside the EU who trade with the EU must comply with this directive
• US SEC Proposals on Human Capital Disclosures
• UK Modern Slavery Act
• Rerform of Section 172, UK Companies ACT

What does it mean for your company?

• Companies must adapt to these changes. They must drive innovation and sustainable growth.
• These regulations are shaping the business landscape and demanding organisation take a sustainable approach to business.
• They demand that companies adapt to the journey or the new requirements rather than partaking in greenwashing and tick boxing exercises.
• Mastering the social demands is becoming a strategic imperative for all organisations.
• A key component in best practice is stakeholder engagement – it’s the cornerstone of social criteria integration.

The future of social criteria reporting

• It will become more intense as there is increased scrutiny.
• Invest in data protection measures will be more important.

Challenges and opportunities that exist in implementing the social criteria

• It’s about transforming how organisations operate at every level.
• The challenges:
  • Understand social criteria.
  • Alignment with business objectives.
  • Cultural shifts.
  • Measuring social impact.
• Key to overcome:
  • Leadership must champion the change.
  • Aligning incentives and recognition systems to promote and reward behaviour that supports social objectives.
  • Continuous education.

Unlocking opportunities through social criteria

• Innovation in product and services
• Marketing expansion
• Strengthening brand reputation
• Leadership development
• Delivering lasting social change
• Talent attraction and retention
• Partnership and collaboration

Practical steps to take:

• Conduct a social audit
• Materiality assessment
• Set clear objectives
• Ideation and prioritisation
• Employee involvement
• Stakeholder engage
• Tracking and monitoring
• Compliance and reporting
• Sustainability integration
• Regularly review

As global attention intensifies around corporate social responsibility, mastering the Social dimensions, the ‘S’ of ESG, is not just beneficial—it’s essential.

Join us for this webinar, tailored for visionary leaders, to learn and leave with a strategic toolkit to champion the impact and innovation arising from a social strategy.

We’ll explore the challenges, opportunities, and strategic practices to comply with emerging regulations and drive meaningful societal change and business benefits.

The key takeaways from this webinar will be:

• Understanding how employee welfare, diversity, community engagement and supply chain form the backbone of responsible business practices.
• Seeing how real-world organisations have enhanced their operations, reputational strength and stakeholder trust.
• Being able to identify and navigate common challenges that organisations face when addressing the Social criteria.
• Having actionable strategies you can immediately implement within your governance framework and the wider organisation.

Romeo is a former C-Suite Executive, and is the Founder and CEO of Lumorus Plc., a social impact consultancy, working with global companies in Corporate Governance, Company Secretary, and ESG/Sustainability. He is also the Co-Founder & Chairman of Naseberry Capital and is a regular international speaker in a range of business, governance, sustainability, culture & leadership-related topics, and has spoken extensively across the UK, the USA, numerous African countries and all over the Caribbean.

Romeo’s experience includes being a chief executive, non-executive director, including chairman, management consultant, and board advisor in both public and private sector enterprises. Romeo’s strategic as well as practical capabilities include large-scale organisational change projects, public/private collaborations, corporate governance, company secretary, financial regulations, ESG/Sustainability and diversity competency development at both national industry and individual enterprise levels. He has broad exprience and publications in leadership, business and performance improvement, and as author of two number 1 selling books and guest-features in publications across governance, ESG, supply chain sustainability, diversity and inclusion, social impact, leadership, business and performance. He is also a Hollywood Producer and Philanthropist.

Romeo’s corporate experience as senior executive levels comes from working with global business such as Accenture, MITIE Group PLC, Rosslyn Analytics, Aspyre Group PLC, Air Jamaica/British Airways to name a few. He has also worked with numerous Prime Ministers, Members of Parliament and Senators throughout the Caribbean as there parliamentary secretaries, political strategist, speech writer, rain maker and campaign director, and has set up and Chaired numerous Government Policy Committees, Advisory Boards, Think Tanks and has been privileged to attend Cabinet meetings occasionally.

His Corporate Governance and ESG experience come from working and delivering this role in Asypre Group PLC; Ethos Holdings; MGE Group; Jamaica Film & Entertainment Commission; Pay Compliance (HK); National Development Policy Advisory Group; Crown Agents Bank; Tropical Airlines; Glassmore RK; BMAC Foods Ltd; Platinum Group; Change Capital (USA), Inigo Insurance and Capita Pension Solutions. Many of these clients were regulated by the PRA and FCA and so he has a good working knowledge of these regulations. He has worked with several other clients in the financial services area on regulatory compliance issues and governance related issues.

Personally, Romeo has been an advocate for social justice and social change for years. He is the founder of IBRIE Foundation which works to develop leaders amongst young people from disadvantaged backgrounds in developing countries and he runs a global mentoring circle for young people. He has championed the drive for sustainability, equity and inclusion in corporate helping to develop guidelines for the ethnicity pay gap and dismantling other structural discrimination in all areas of protected characteristics. He has been involved in HIV/AIDs fight for several years, including being a part of the development of the first HIV Hospice in Jamaica.

He is former Chair – Ethos Holdings, Aspyre Corporation Plc, and Naseberry Capital (current), also NED at AnyData and Platinum Solution. His current trusteeships includes Youth Business International (a former King Charles Charity) supporting youth entrepreneurship across the world, Chair of the national HIV charity Wandsworth Oasis, Deputy Chair Dennis Brian Initiative a New York based global charity supporting young men who have suffered sexual abuse, Trustee/Treasurer of BlkOut a U.K. based Organisation advocating for and support Black LGBTQ+ men, Deputy Chair Black British Classical Foundation, Executive Board Member – Cass Business School Global Woman‘s Leadership Programme and Board Members of City Launch Labs and The YFYA Initiative.

Romeo has done extensive research in the Corporate Governance, Responsible Business and ESG and was awarded a PHD for his work in 2022. He holds numerous other academic qualifications and professional certifications in Corporate Governance, Risk & Compliance, Quality, Lean, Six Sigma international business including a dual Master’s in Finance & Trade and Supply Chain Operations from Cass Business School (UK). He is a Fellow of the Institute of Entrepreneurship & Enterprise, member of Corporate Governance Institute, The International Association of Corporate Governance Practitioners, The Chartered Governance Institute UK&I and is a former lecturer in Cass Business School and the Business Schools London South Bank University.