ESG in Family Firms

Written By Alex Bibby

Press Release: FBRF Launches Groundbreaking Report on ESG in Family Firms

Contact Information:

Family Business Research Foundation (FBRF)

Email: info@fbrf.org.uk

Website: www.fbrf.org.uk

New Report Highlights ESG as a Strategic Priority for UK Family Businesses

London, UK – 9 January 2025: The Family Business Research Foundation (FBRF) has published a landmark report, ESG in Family Firms: A Review of Research, Regulations, and Practice Guidance, which offers vital insights into how family businesses can navigate the evolving landscape of Environmental, Social, and Governance (ESG) requirements.

Drawing on extensive research and interviews, the report evaluates ESG regulations, voluntary standards, and practical frameworks tailored to UK family businesses. It reveals how family firms, known for their long-term orientation and deep community ties, are uniquely positioned to leverage ESG as a competitive advantage while meeting regulatory and stakeholder demands.

Key Findings

1. Navigating Regulatory Changes

Family businesses face growing pressures to align with stringent ESG regulations, including the UK’s upcoming adoption of International Sustainability Standards Board (ISSB) standards by 2026. The report underscores the importance of preparing for mandatory ESG disclosures and avoiding reputational risks such as greenwashing.

2. Going Beyond Compliance

Voluntary certifications like B Corp and frameworks such as ISO 26000 are helping family firms enhance credibility while fostering innovation and stakeholder trust.

3. Opportunities for the Next Generation

Younger family members are emerging as champions of ESG practices, driving ecological and social initiatives aligned with family values.

4. Practical Implications

The report includes detailed guidance on integrating ESG into business strategies, focusing on data management, stakeholder communication, and crafting compelling ESG narratives.

Call to Action for UK Family Businesses

The report emphasises that embracing ESG is no longer optional but a strategic imperative. Sir Michael Bibby, Chairman of the Family Business Research Foundation, notes:

"Family firms must act now to integrate ESG into their core strategies. This report provides a practical roadmap to safeguard their legacy while ensuring sustainable growth and compliance in an increasingly regulated environment."

Notes to Editors

About the Family Business Research Foundation

The FBRF is a registered UK charity dedicated to advancing knowledge of family businesses, their economic contributions, and the unique challenges they face. More information about the charity can be found on its website: www.fbrf.org.uk

Availability

The full report, ESG in Family Firms: A Review of Research, Regulations, and Practice Guidance, is available for free download at https://www.fbrf.org.uk/reports/esg-in-familyfirms

Press-ready files are available on request.

Interviews with the authors are available upon request.

Alex Bibby