- Social change from the population. Government, laws and companies are just adapting.
- Work now for a world with a sustainable future, but also without deep inequalities.
- In Mexico, there is an urgent need to adopt new comprehensive concepts of environmental, social and corporate governance monitoring, especially in value and supply chains.
16 2021 November. Juan Carlos Machorro, Partner and Head of the Transactional and Financial Practice Unit of the law firm Santamarina + Steta He pointed out that the wounds of the pandemic are crystallizing a new type of productive society that is replacing that of wild capitalism. He reported that legislators, companies, end consumers, employees, communities, suppliers, investors, clients, shareholders, regulators, the media, social networks and governments in different parts of the world have a consciousness of responsibility that more firmly confronts industrial abuses.
All these groups, which from different angles make the operation of a company effective, already revolve around environmental, social and corporate governance surveillance that is more appropriate to a new productive society, which is more demanding and aware of the future.
“Following the close of the 2021 United Nations Climate Change Conference, we can clearly see that the pandemic has only dramatically highlighted wounds and inequalities that should now be considered unsustainable and absolutely unacceptable,” said.
The specialist stressed that this is a real social change that comes from a population that is increasingly aware of its rights, not from a fad. He clarified that it is something that has been brewing for some years and that was first translated into the concept of socially responsible company (ESR) but then deepened under the concept of environmental, social and governance (ESG) compliance.
“There is still talk of sustainable projects, but the pandemic accelerated awareness of the impact of companies and government works with a much broader vision. Now, the ESG concept involves labor issues, human rights, the social impact of projects, their community impact and the participation of various social groups that make the operation of the company possible and that constitute the productive society. Only in this way can compliance, ethical management of the company, data privacy, industrial property and, of course, corporate governance become effective. In short, countless areas that must be addressed by the productive society as a whole,” He explained.
Juan Carlos Machorro added that the ESG concept is the future of the global economy and of companies. It is already a fact in the policies of global companies and is now associated with local companies through compliance requirements for value and supply chains.. “The British Academy has already said it in very clear terms: the purpose of companies is to solve, profitably, the needs of people and the planet and no longer to achieve profitability by causing problems at any cost. In our country, a rapid adoption of this concept is urgent. We are far from Europe, the United States and Canada, but we have everything to do it,” concluded.
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