There is a growing movement in the investment community to consider organizational variables not counted as indicators of business success. ESG metrics have gained prominence over the past two decades largely because a subset of investors insist that companies behave in socially responsible ways that supersede self-interest. This session will explore whether the ESG movement has merit or may undermine efforts to improve employee health and well-being initiatives as well as those directed at community health. A key to the potential success of the ESG movement is finding common ground in defining the “S” or identifying alternative metrics most businesses would embrace. Why not focus on and measure the health and well-being of workers alongside public health efforts to entice investment in community health? We will report on ongoing efforts to establish public-private partnerships, “business case” language supporting such collaboratives, the “asks” of businesses, and establishing accountability dashboards. This session is a “How-To Guide” for business and public health leaders wishing to engage in shared value initiatives and do so by avoiding politically combative language. While corporate health and well-being initiatives, directed internally at employees or externally at communities, may be implicit in an ESG framework, it is not explicit. By focusing on health metrics, businesses can emphasize the importance of human capital as a major contributor to business success.
Learning Objectives
After completing this session, participants will be able to:
1. Gain a full understanding of the rationale for ESG metrics along with the controversies surrounding those measures.
2. Recognize ways in which business and public health leaders can work collaboratively to ensure business and public health improvements.
3. Explain alternative metrics to those now included in ESG formulations – particularly those focused on employee and community health.