ESG Essentials For Family Firms

Family businesses aiming to enhance their sustainability practices can benefit from the insights shared in this new article by Mat Hughes et al, "ESG Essentials for Family Firms", published on FamilyBusiness.org. The article is based on learning from a recent Family Business Research Foundation project which took an in-depth look at ESG policies and practices in family firms.

Drawing on the FBRF report, ESG in Family Firms, the article provides guidance integrating Environmental, Social, and Governance (ESG) principles into family-owned enterprises. It emphasizes the importance of adopting ESG strategies to not only fulfil ethical responsibilities, but also to drive long-term profitability and resilience.

The article outlines practical steps for family firms to assess their current ESG performance, engage stakeholders effectively, and implement policies that align with their core values and business objectives. By embracing these practices, family businesses can position themselves as leaders in sustainability, attract top talent, and strengthen their market position.