Why ESG and DEI could be the next big business risk
The instinctive reaction to the ESG and DEI ‘vibe-shift’ in the US was to persist, defend the status quo, and write off what was happening over there as an isolated and temporary phenomenon.
Australian corporates face a harsh new reality given what’s transpiring in the US.
Lofty pronouncements about “diversity” and “social licence” are now at serious risk of falling flat and sounding tin-eared. More and more, they sound like “corpsplaining” – a corporate attempt to explain or justify social engagement in an overconfident or oversimplified manner, in the mistaken assumption that companies know more about the social good than the average citizen.
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Patrick Langrell is director of the Governance and Public Affairs Centre at the Australian Catholic University. He is convenor of business governance and engagement roundtable Executive Forum.
