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You’re So Vain: Why Great ESG Focuses on Impact, not Brand

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You know when you\u2019re getting to know someone and all they do is talk about themselves? That\u2019s what some marketing content can feel like.\n

Thankfully, many corporations have learned that the Impact they have on the world is at least as important as the money those brands can make. This practice has grown into what is known as environmental, social, and governance (ESG), which is used by public and private investors to evaluate the impact a corporation has on the world.\n

Put another way: ESG measures the risks that a brand poses to the planet, the public, and the communities where that brand makes an impact. Those impacts can be broad \u2013 such as reducing CO2 emissions, improving the social conditions where a corporation operates, or tweaking the governance structure of how brands make large decisions \u2013 and are now looked at as important facets for investment and divestment.\u00a0\n

To round out the picture, Fullintel spoke with Dave Armon, CEO of 3BL Media, a news distribution service which specializes in ESG communications. Armon says that great ESG begins with data.\n

\u201cA lot of companies will start with an assessment of what works, what doesn\u2019t, and what can be measured,\u201d said Armon. \u201cNext, brands have to think about what impact they can have on the things they can evaluate.\u201d\n

If no one is counting the trees falling in the woods, if one falls what difference does it make?\n

This kind of ESG work is now fundamental to how an organization operates. It goes beyond communications and into operations, engineering, even investment planning, with everything tied to measurable impacts and outcomes.\u00a0\n

What is ESG (and what is it not)?\n

Armon says that what can be measured and reported on, along with who leads the program internally, is key to what sets ESG apart from other types of initiatives.\n

\u201cESG is not interchangeable with CSR (corporate social responsibility) or DEI (diversity, equity, and inclusion),\u201d he said, adding that while these types of initiatives are similar, ESG is more compliance driven with firm measures and reporting structures in place.\n

That\u2019s not to say that all three can\u2019t coexist. It\u2019s more than ESG is its own thing and presents its own challenges.\n

\u201cGreat ESG programs shine a light on where a company needs to improve,\u201d said Armon. Brands, in turn, benefit from such self-reflection \u2013 both internally and for external audiences. \u201cCompanies gain credibility when they actually say where improvements can be made.\u201d\n

ESG communications can split the difference\n

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You can stumble into components of these programs running around in the wild after just a few minutes of searching on the internet. A great example is AirBNB.org\u2019s Open Homes project, which helps those fleeing persecution, war, or environmental disasters find a place to stay for free. AirBNB.org is a non-profit and separate corporation from AirBNB. It has helped more than 100,000 Ukrainian refugees flee the war in their country.\u00a0\n

What stands out are the stories presented by the program\u2019s hosts. The stories are personal and inspiring.","tablet":"Have you ever visited your favorite restaurant to find it is under new management? Well for close to 400 million people who use Twitter as a source of their media diet, that's what we've been experiencing. The shrimp scampi is off the menu, the health department has been called in, and the service staff are now forced to share their tips. The vibe has been impacted.\n

I\u2019ve struggled with Elon\u2019s Twitter, but what\u2019s keeping me there is the fact it is still up, audiences are engaged and as yet there isn\u2019t another restaurant in town.\n

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Why Twitter is Still Worth It:\n

    \n
  1. Twitter is still up: I\u2019m impressed the site is still running, you can thank some unnamed group of engineers running DevOps for keeping the lights on. That\u2019s a story I want to read. If Twitter is still running come Christmas, I want a feature article by Wired interviewing Musk\u2019s skeleton crew keeping the site running. There are still good news stories to write about Twitter, regardless of who owns it if we accept the fact that Twitter is different now but not yet dead.\n
  2. People are still tweeting: Fewer people I engage with have left than expected, yes there are a lot of notable people who\u2019ve dropped off the site, they said they would, and they did. We\u2019ll see how long that persists, given item one, I\u2019m surprised so many people are giving up the battlefield and abandoning their audiences because they dislike Elon. Twitter has yet to grow into a textual 4chan. As Stephen King wrote in his recent novel Fairy Tale \u201cA brave man helps. A coward just gives presents.\u201d\n
  3. Audiences are still engaged: As with the above, lurkers are still reading and people are still having conversations, some of them are even worthwhile! If engagement drops off, and people stop retweeting the platform will struggle. There are lots of bots, and dormant accounts, if the ghost-ship Twitter starts feeling like one, users will run away. According to Similar Web data, Twitter remains the fourth most trafficked website in the world, and my own review of the data suggests there\u2019s been an increase in visits of about 3% in November alone.\n
  4. Former President Trump never really left: It doesn\u2019t matter whether the twice impeached former President begins tweeting again or not, his followers were still sharing his content on Twitter, and organizing on social media. Banning him didn\u2019t stop that it. If Trump the bird back up and begins sharing again it makes the conversation more direct. The bullhorn can be laughed at, and those supporting his ideas (for good or ill) will be out in the open.\n
  5. \n\n

    Challenges are real, but not fatal yet:\n

      \n
    1. Brand Safety is At Risk: The pay for verified status debacle hurt Twitter, and it hurt brands (just look at what happened to Eli Lilly). That alone is a reason for larger brands to stay clear for the time being at least for advertising. Clearly, there are brand safety concerns persisting, offensive content is taking longer to take down, ad reporting is askew according to a number of brand managers. Worse, copyright management has apparently disappeared, and people are uploading full-length movies onto Twitter. Not good! \n
    2. Elon Himself: It is odd to see the CEO of a company troll his own business and take apparent glee in impacting his own staff. The lawsuits and HR issues he\u2019s created by taking such a hardline as CEO will come back to haunt him. The greatest risk to Twitter is it being sued into oblivion by its former employees. The \u201cmove fast and break things\u201d theory of management is great when you are disrupting an old industry, not when it is hurting your own team. Whether the company will have the human capital to keep the site running is sincerely in question.\n
      \n
      3.Upstarts Aren\u2019t Great: If you spend time on Twitter you\u2019ll see hashtags for Mastodon, a new social network, and countless other Twitter imitations. Many have the right idea in mind, but they aren\u2019t Twitter, and they aren\u2019t without their own challenges. Users on Mastodon are reporting inconsistent reporting and content removal issues, this is especially true for people of color or those writing about social justice. Mastodon itself is replying to people on Twitter. The great migration isn\u2019t happening.\n
      \n\n\n\n

      If you can\u2019t measure it, it isn\u2019t real. Yes, people are leaving Twitter, but no there isn\u2019t a better replacement available yet. With so many businesses, governments, and people relying on Twitter as a syndication channel, and as a key for brand measurement we\u2019re stuck with it. To quote Trooper\u2019s seminal work, \u201cWe\u2019re here for a good time, not a long time, so have a good time, the sun can\u2019t shine every day.\u201d\n

      The sun is shining, in this rainy city, keep Tweeting until you can\u2019t. "}},"slug":"et_pb_text"}" data-et-multi-view-load-tablet-hidden="true">

      You know when you’re getting to know someone and all they do is talk about themselves? That’s what some marketing content can feel like.

      Thankfully, many corporations have learned that the impact they have on the world is at least as important as the money those brands can make. This practice has grown into what is known as environmental, social, and governance (ESG), which is used by public and private investors to evaluate the impact a corporation has on the world.

      Put another way: ESG measures the risks that a brand poses to the planet, the public, and the communities where that brand makes an impact. Those impacts can be broad – such as reducing CO2 emissions, improving the social conditions where a corporation operates, or tweaking the governance structure of how brands make large decisions – and are now looked at as important facets for investment and divestment. 

      To round out the picture, Fullintel spoke with Dave Armon, CEO of 3BL Media, a news distribution service which specializes in ESG communications. Armon says that great ESG begins with data.

      “A lot of companies will start with an assessment of what works, what doesn’t, and what can be measured,” said Armon. “Next, brands have to think about what impact they can have on the things they can evaluate.”

      If no one is counting the trees falling in the woods, if one falls what difference does it make?

      This kind of ESG work is now fundamental to how an organization operates. It goes beyond communications and into operations, engineering, even investment planning, with everything tied to measurable impacts and outcomes. 

      What is ESG (and what is it not)?

      Armon says that what can be measured and reported on, along with who leads the program internally, is key to what sets ESG apart from other types of initiatives.

      “ESG is not interchangeable with CSR (corporate social responsibility) or DEI (diversity, equity, and inclusion),” he said, adding that while these types of initiatives are similar, ESG is more compliance driven with firm measures and reporting structures in place.

      That’s not to say that all three can’t coexist. It’s more than ESG is its own thing and presents its own challenges.

      “Great ESG programs shine a light on where a company needs to improve,” said Armon. Brands, in turn, benefit from such self-reflection – both internally and for external audiences. “Companies gain credibility when they actually say where improvements can be made.”

      ESG communications can split the difference

      You can stumble into components of these programs running around in the wild after just a few minutes of searching on the internet. A great example is AirBNB.org’s Open Homes project, which helps those fleeing persecution, war, or environmental disasters find a place to stay for free. AirBNB.org is a non-profit and separate corporation from AirBNB. It has helped more than 100,000 Ukrainian refugees flee the war in their country. 

      What stands out are the stories presented by the program’s hosts. The stories are personal and inspiring.

The post You’re So Vain: Why Great ESG Focuses on Impact, not Brand appeared first on Fullintel.



This post first appeared on Fullintel: Media Monitoring & Analysis, please read the originial post: here

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