“We all loathe the term ESG”
“We all loathe the term ESG.” This was how the email from one of my clients started. They wanted to call 'it' something that resonated better with all the people within the business and asked me to share some ideas. I did and I also asked the question on LinkedIn. As expected, there were lots of great contributions and discussions so I’ve pulled them all together…
The alternatives to ‘ESG’
Here’s the list we came up with. These terms aren’t interchangeable but they’re all in the same ballpark:
Sustainable business
Responsible business
Regenerative business
Impact-focused business
Impact-driven business
Values-led business
Values-driven business
Purpose-led business (NB purpose doesn’t have to be linked to impact on the world but it often is)
Better business
Business as a force for good
Business for good
Global impact driven business
Conscientious enterprise
Conscious business
Ethical business
Resilient business
Holistic business
Doing the right thing
Resilient business
Mission-driven business
Get rid of the jargon
There was lots of support for using plain English, keeping it simple and moving away from sustainability sector jargon and acronyms. Making this accessible and inclusive. Using descriptions like better business, business as a force for good, doing the right thing, responsible business.
You need to get more specific
Any of these terms still leave lots of room for interpretation. It’s important spend time getting specific and tangible about what you actually want to achieve and how you want to work. For example:
Values-led – what are your values?
Impact-focused – what’s the impact you are having and want to have?
Mission-driven – what’s the mission?
If you don’t get specific then any of these terms can mean nothing. This is particularly the case with words like ‘good’ or ‘better’ which smack of greenwashing unless they’re backed up with specific things you’ve done and plan to do.
Action matters
At the end of the day it’s action that counts, not talking about it.
I’ve made a change since this LinkedIn discussion and started to use the term impact-driven rather than impact-focused. Driven suggests action, whereas you could be focused on just talking and strategizing!
Similarly, I like the word mission. It suggests an intention and movement forwards.
What resonates?
Putting a label on your business can help excite and motivate your stakeholders. So, one of the most valuable things you could do is ask these stakeholders (e.g. employees) what label resonates with them. What resonates with their inner values?
I tend to use ‘responsible business’ most if I'm honest. Deep down, I think most people understand whether something is responsible or not, even if they won't voice that out loud.
For more insights and practical advice on navigating the responsible business transition, sign up to my monthly newsletter, Better Business Bites: