A DECADE ago, ESG (the environmental, social and governance elements of a business) was just beginning to be understood by corporations. It was only an incidental topic of conversation at management meetings and corporate gatherings.

Fast forward to 2022, the pandemic has propelled ESG to the forefront of corporate consciousness, making it a focal point of business. Today, it is considered by investors, policymakers and other stakeholders to be the essential elements that ensure the sustainability of a business.

Of the three elements of ESG, the ‘S’ (or the social) dimension is probably the element that is least prominent. As the ‘middle child’ in the tri-letter acronym, the ‘S’ is not well understood and often ignored, even as much attention is lavished on its other two ‘siblings’ – ‘E’ (environmental) and ‘G’ (governance).