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Executive Summary for Social Element of ESG [S of ESG]

This Guide provides a comprehensive account of the Social Element of the ESG Criteria by showcasing first and foremost how and why the Social of the ESG is important also for non-listed companies. The Greek Guiding Principles in Market Practice regarding the Social Element of ESG are analysed alongside the business case for the S of ESG looking at which social factors affect a company’s financial performance. A practical real-life European based case study is examined, that of that The Shell Ruling 2021, which helps readers shed light on the importance of observing practices around the social pillar of ESG from a litigation perspective. As Stakeholder Engagement is key with regards to compliance with the S of ESG, the Guide offers a checklist for companies to adhere to regarding the design of such engagement. Compliance with reporting requirements in this context are also important and hence the guide offers an account of the corresponding non-financial reporting standards available. A key indicator centred on by the Guide is the percentage of female employees in a company and how many of them occupy management positions ; such indicator being connected to the S of ESG compliance. With reference to key stakeholders, such as employees, the guide sheds light on Employee Turnover and Employee Training and examines the International Employment Standards that support the application of GRI 401 on Employment. A company’s human rights policy and guidance on how a company can draft such a policy, as well as supply chain due diligence, supplier assessments and how they translate into compliance are all provided for by the Guide. Finally, the Guide offers a useful account of Greek Law provisions that come to support the implementation of elements of the S Pillar of ESG, which can assist all interested companies to explore further how they can best ensure compliance with the S of ESG criteria.

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Effective Date: 01/10/2024