Chapter 17 Closing the Data Gap: Preventing the Emergence of Unforeseen Social Risks
05/19/23 • 9 min
The gap between policy intent and practice for social factors is poorly measured as most of the data needed to find risks does not exist. The missing risk data is the causality to many socioeconomic problems within organisations. The momentum to embrace reporting non-financial data is being led by ESG (Environment, Social, and Governance) and regulatory change. The time has come for a new way of thinking to address the missing data, especially to measure the S in ESG.
Music by AlexiAction through Pixabay
Music by
AlexiAction through Pixabay
The gap between policy intent and practice for social factors is poorly measured as most of the data needed to find risks does not exist. The missing risk data is the causality to many socioeconomic problems within organisations. The momentum to embrace reporting non-financial data is being led by ESG (Environment, Social, and Governance) and regulatory change. The time has come for a new way of thinking to address the missing data, especially to measure the S in ESG.
Music by AlexiAction through Pixabay
Music by
AlexiAction through Pixabay
Previous Episode
Chapter 16 It took just twenty-five days to damage an international brand
Imagine a scenario whereby the trust in a well-known international brand is eroded within twenty-five days, because they had mismanaged ESG social risk within their organisation. This scenario became a reality during April 2023. Why does this matter?
Music by AlexiAction through Pixabay
Music by
AlexiAction through Pixabay
Next Episode
Chapter 18: Reputation and value destruction by underestimating social risks
Recently there has been several cases of reputation and value destruction. This is because leadership underestimated social risks and their adverse effects upon stakeholders.
Music by AlexiAction through Pixabay
Music by
AlexiAction through Pixabay
Measuring the ‘S’ in ESG - Chapter 17 Closing the Data Gap: Preventing the Emergence of Unforeseen Social Risks
Transcript
Welcome, my name is Freddie McMahon. The way we interact with policy rules to make decisions affects every organisation and industry. The gap between policy intent and practice for social factors is poorly measured as most of the data needed to find risks does not exist. The missing risk data is the causality to many socioeconomic problems within organisations. The momentum to embrace reporting non-financial data is being led by ESG (Environment, Social, and Governance) and regulatory change.
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