Conclusion and reflections
Based on the analysis of the number of mentions, the findings point to some notable trends and potential areas of focus within the FTSE 350.
These trends can provide valuable insights into the possible direction of travel of UK plc. Here are they key takeaways:
1. Increasing emphasis on ESG: the significant increase in the use of the phrase 'ESG' across the FTSE 350's consumer businesses points to a growing emphasis on ESG factors. This suggests that companies are recognising the importance of integrating sustainability and responsible business practices into their operations and reporting.
2. Heading in the right direction but travelling at different speeds: all businesses within FTSE 350 are on a journey when it comes to ESG and this is replicated across all other businesses. There appear to be significant differences between all businesses within the FTSE 350 when it comes to their engagement with ESG and their understanding of its components.
Whilst the growing emphasis on ESG within the FTSE 350 is promising, true progress lies in the implementation of meaningful actions.
3. Attention to equality, diversity & inclusion: the increased mentions of ED&I across the FTSE 250 demonstrate a growing recognition of the importance of fostering inclusive workplaces and addressing diversity issues. This indicates a positive movement towards creating more equitable and diverse corporate environments.
4. Growing importance of cyber security: the notable increase in mentions of cyber security suggests a heightened focus on protecting digital assets and mitigating cyber risks. This trend reflects the increasing awareness of the potential threats posed by cyber-attacks and the need for robust security measures.
5. New focus on Scope 3 emissions: To meet net zero targets, action is required to reduce greenhouse gas emissions across an organisation’s entire value chain. Consumer companies will need to prioritise their efforts on supply chain engagement to meet these targets.
It is important to note that actions hold more weight than mere words. Whilst the growing emphasis on ESG within the FTSE 350 is promising, true progress lies in the implementation of meaningful actions. It is crucial for companies to translate their commitments into tangible initiatives that drive positive change and deliver measurable results.