Report on the "S" in ESG for the Hospitality Sector
Non-profit hospitality coalition the Energy & Environment Alliance (EEA) in collaboration with law firm Womble Bond Dickinson (WBD) has released a report that examines the ‘S’ in ESG.
The report provides an overview of the key social issues in the hospitality sector alongside advice on how businesses can maximise relationships with employees, customers, the supply chain, and the wider community. It broadly aims to help businesses navigate the challenges and opportunities that the ESG agenda presents.
In particular, the report explores modern slavery prevention measures, diversity, equality, and inclusion (DE&I) policies, upcoming UK legislation relevant to the ‘S’ in ESG, as well as flexible working and family leave provisions.
Claire Wilkinson, partner and head of retail and hospitality at Womble Bond Dickinson, said: “When we look at the different facets of ESG, the ‘S’ factor is a fundamentally important one, particularly in a sector that is so people-focused and also a major employer with a global footprint.
“In the war for talent and competitive advantage, both employees and customers want to engage with purpose-led organisations that share their values. The good news for the hospitality sector is that the opportunities are there for the taking, and businesses need to start setting some ambitious targets, not only for themselves but for the good of their people, customers, and stakeholders.”
Ufi Ibrahim, CEO, EEA, said: “Hospitality is, at its heart, an industry of people serving people. Our businesses can and, in many cases, act as platforms upon which employees, guests, and local societies thrive together. On the flip side, they’re exposed to negative social impacts which can destroy communities and businesses.
“The EEA thanks the Womble Bond Dickinson team for this excellent guide to legislative requirements in the United Kingdom and we are confident this report supports hospitality businesses (the majority of which are SMEs) to mitigate regulatory stewardship risk and harness social value and social equity opportunities.”
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