This time last year, ESG was all the rage. But, now, if you read the headlines, you might think that interest is on the slide.
As case in point, HSBC recently removed its Chief Sustainability Officer from its board – cue media stories about the death of ESG and sustainability.
But we cannot ignore that research shows that ESG gives companies a competitive edge, helping them attract more customers, investment, and talent.
But ESG should never be seen solely as a PR strategy. I think this is the main lesson that companies have learned over the last few years.
So, while it might be easy for the media to frame the likes of HSBC as the bad guys, perhaps, if we're being kind, this is a good thing?
Perhaps HSBC wants to take more tangible steps on ESG rather than turning to flagship appointments for a quick PR win? Or perhaps not? HSBC knows the real story.
But, we need to be careful here – companies must avoid throwing out the baby with the bathwater. ESG PR for PR's sake is bad – but companies taking concerted, careful, considered efforts to share their learnings and lessons from enacting ESG reforms with the rest of the sector is a good thing.
In practice, I think this means that ESG-focussed comms activity should pivot away from conventional PR and towards thought leadership.
It's for this reason that we're proud to have launched an ESG thought-leadership unit to support those enacting genuine change. Do give it a read.
If you enjoyed this newsletter, check out our recent discussion about how thought leadership is ideal for cyber security.
This is an extract from one of Profile's recent email newsletters. Packed full of practical lessons, the once-a-month email provides guidance on running successful thought leadership campaigns.