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But ESG isn’t doomed. If anything, companies have the opportunity to win over consumers, i.e., hearts and minds, with their ESG strategies. Why? Well, to start, a recent Fordham University survey found that about two-thirds of all consumers are still by and large unfamiliar with ESG. But despite that unfamiliarity, they are willing to hear more anecdotal stories about their companies’ ESG efforts and could reward them with more purchases and increased loyalty.
The problem, however, is that many companies are getting the communications part of this all wrong — and they will want to rethink how they talk with key stakeholder groups, starting with consumers.