Assessing ESG Risks for Businesses in the COVID-19 Era
COVID-19 disrupted business operations, supply chains, and economies around the globe. In response, businesses had to respond to multiple crises throughout their operations. Companies sought to make good choices concerning procurement, logistics, HR, and go-forward strategies.
Looking ahead, the precise trajectory of the pandemic has yet to become clear, but in the past, public opinion harshly judged employers that took compliance short-cuts and prioritized short-term gains over longer-term social and environmental values.
Companies—particularly those that may have adopted a light touch in the compliance area—need to get ahead of the issue. They must honestly assess or reassess the compatibility of their environmental, social, and governance (ESG) goals with their real-world operations.
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