Shaleeza Hasham, director at CHD Living, sets out a pathway to sustainable growth for care businesses, and explains how a well-defined ESG strategy can have a positive impact on both business performance and employee engagement and retention
In recent years, Environmental, Social, and Governance (ESG) criteria have emerged as a fundamental framework for measuring the sustainability and societal impact of businesses. The care industry, encompassing all sectors from elderly care to specialist care and disability support, plays a crucial role in enhancing the wellbeing of vulnerable individuals within our society. As stakeholders increasingly prioritise ethical considerations, adopting a well-defined ESG strategy has become imperative for care businesses where the positive impacts aid both business performance and employee engagement and retention.
ESG does not need to be an intimidating prospect, in fact, the social care sector is already much further ahead in its ESG journey than many other sectors when it comes to the ‘S’ and the ‘G’, as both social and governance are intrinsic parts of what we do. Progressive operators are, indeed, also finding a way to overcome their sustainability challenges. But, for those who are not yet thinking about it, they will soon see direct commercial implications.
A recent report by Steven Fergus, head of healthcare at Barclays Bank, argues that climate change is one of the biggest collective challenges we face, making investment in sustainability not just a moral imperative but a commercial opportunity
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