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Understanding the social pillar
Get started on social topics with these insights for compliance professionals, including:
- What is the social pillar?
- What to know about reporting on it?
- What are the related regulatory changes?
Quick Summary
- Sustainability reporting isn’t just about the environment — companies are now expected to be transparent about social issues like labor practices, human rights, and supply chain conditions.
- Regulators, customers, and shareholders are all increasing their scrutiny, making social due diligence a business-critical priority rather than a nice-to-have.
- Social topics like equity, mental well-being, and community impact are harder to measure than environmental ones, so knowing where to start is half the battle.
There’s more to sustainability reporting than environmental topics. Businesses are also being asked to show transparency in social issues like health and safety, labor practices, and more.
Get your company caught up on what the social pillar is and what’s changing in regulations around it.
Crucially, companies need to understand the risks faced by their industry, the jurisdictions where they operate, and their products or services.
Understand the social pillars
The issues, topics, and risks for your business
Discover related regulatory developments
Looking at what’s changed in the legal landscape
Be clear on the importance of reporting
Transparency and robustness are key
See what’s happened and what’s next
From public interest to future impact
What is the social pillar of sustainability reporting?
The social pillar of sustainability targets the relationships between a company and its employees, consumers, local communities, and a broad range of stakeholders that might be connected to the company’s operations, including the workers in its supply chain.
Social reporting is supposed to consider all stakeholders and reflect on how the company engages and affects them. This makes it very hard to set standards for reporting, because what matters for one organization may be irrelevant for another. What, therefore, should be included?
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An ambitious remit – worth paying attention to
Consumers increasingly want to know more about the goods that they are buying. Alongside this, the legal framework is rapidly changing and increasing companies’ accountability throughout their operations and business relationships.
Implementing due diligence across supply chains is key to every business to guarantee their sustainability and existence. Scrutiny is only going to increase from all stakeholders: customers, shareholders, and regulators, and companies need to address all areas to achieve success.
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