“What should the S in ESG refer to? It is logical to assume that it refers to social outcomes associated with our individual welfare or with thriving communities, and measures things like mental or physical health, education, and learning, or elements of subjective well-being like personal dignity or community cohesion. However, as currently conceived, the S in ESG regularly has very little to do with this intuitive and well-recognized understanding of social impact.”

[COMMENTARY]This paper has an excellent discussion of what the ‘S’ should stand for in ESG!
ESG Investing Needs to Expand Its Definition of Materiality, by Tom Adams, Lindsay Smalling and Sasha Dichter, February 23, 2022, Stanford Social Innovation Review, USA.