MADRID, 26 OCTOBER 2023: Forestica, the global network partner of WBCSD in Spain, organized the 2nd DEI Business Forum – Diversity, Equity and Inclusion, in which “Business Reporting and Social A new European framework for social is being published. ESRS” was announced.
The forum was organized together with more than 60 companies within the framework of the Social Impact Cluster, led by Forética and led by Grupo Cooperativo Cajamar, ILUNION, Mahou San Miguel, ManpowerGroup and Naturgy.
Data from WBCSD's Business Council on Tackling Inequality (BCTI) shows that 83% of the world's 4,500 largest companies have accelerated their social impact efforts in the past two years. In the face of today's inequality challenges, this corporate response is all the more important. Under these circumstances, investors and consumers are increasingly demanding more responsiveness from companies. In Europe, regulation is one of the most important mechanisms for accelerating corporate responsibility, especially in terms of value chain due diligence and reporting and accountability.
According to a recent analysis by Moody's and CSR Europe, social conflicts already account for 67% of all ESG disputes faced by companies around the world, far exceeding environmental and governance disputes. In this regard, 2025 will see the creation of Europe's first sustainability report in line with the new reporting framework based on the ESRS (European Sustainability Reporting Standard), so companies have until the end of this year to adapt to the reporting system. There is a need to.
As highlighted at the forum, corporate social impact strategies are proving increasingly valuable to organizations in terms of risk management, talent attraction, and more. Expectations for business are expanding, requiring more proactive and strategic responses to major societal challenges.
Corporate social impact strategies go beyond providing tangible benefits such as risk management and talent attraction, to expectations for companies to address social challenges in a more proactive and strategic way. It also responds to changes in
Download the report “Corporate reporting and social impact: A new European framework for social ESRS” (in Spanish).
Forética is Spain's leading business network for sustainability and corporate social responsibility. A non-profit organization headquartered in Madrid, its multi-stakeholder membership includes more than 200 members, from limited liability companies to small and medium-sized enterprises, academia, NGOs and individuals. Forética's mission is to foster a culture of sustainability, responsibility and accountability within leading companies, with the aim of promoting competitiveness and job creation.
