The ESG era: “S” for social

The social pillar of ESG is inevitably linked to the concept of “social sustainability”, which refers to the process of creating successfully sustainable places to live and work that foster wellbeing by understanding people´s needs. In relation to businesses, the social pillar links to an organization’s relationships with people, including its policies and actions that have an impact on individuals, groups, and society.

Why is the “S” important for businesses?

The “S” factor, highlighting the quality of a company’s relationships and engagement with its stakeholders and surrounding communities, is essential for businesses. Companies have a direct and an indirect impact on their employees, workers in the value chain, clients, local communities and other stakeholders, so it is vital that those impacts are properly and proactively managed.

These are some social areas and KPIs that businesses can focus on to contribute to positive change:

• Community engagement
  • Number of employees volunteering in their local communities.
  • Number of actions / projects implemented to contribute to local communities.

• Customer and employee satisfaction
  • Percentage of satisfied customers / employees as of total customers / employees.

• Staff turnover
  • Percentage of employees leaving / total employees.

• Diversity and equality
  • Percentage of men and women in the company.
  • Structure of the workforce and management in terms of culture, place of origin, etc.

People and communities are key for ensuring business success, and the treatment given to them is very closely followed by clients, employees, investors and other stakeholders. Hence, organisations with a high social responsibility and a strong social performance backing up their overall ESG strategy are highly valued and trusted by stakeholders.

The "S" as a core value in Mazars in Denmark: our Community Day

Mazars in Denmark's commitment to add shared value to society in all three ESG areas is one of the reasons why we support our clients in their sustainability journey while we implement actions that allow us to progress towards sustainable development.

As part of our social engagement, we have recently organised and participated in our second annual Community Day, in which we have collaborated with the organisation Be Free (Copenhagen), devoted to work with young people aged 15-25 and give them value, strengthen their self-esteem and identity, as well as highlight the importance of diversity.

Be Free leader, Dina Lindgreen, shared her opinion about the Community Day and the importance of companies like Mazars have in helping organizations and the communities they work with.

Dina Lindgreen– Be Free leader

On Wednesday 5^th October, Be Free had the privilege to receive the visit of around 30 employees from Mazars in Denmark. From the first contact to the actual Community Day, we experienced Mazars' commitment, both at management and employee level. They were open, dedicated and collaborative to help create a good day for the young people we work with.

The fact that Mazars, as a company, engages with its local community, allocates resources and funds to give all employees a greater insight into initiatives in the local area as well as prioritizes them is exemplary. Furthermore, for our young people it has been of great importance that the business community chooses to spend time and energy to engage with them and ensure a nice day, which they enjoyed and will be thankful for a long time.

The organizing group at Mazars has, from the very beginning, had an extremely curious and positive attitude as well as commitment to help create a day for the benefit of both the young people and the Mazars staff.

If we really want to understand each other better across society, business, etc., it is important we step out, engage, are curious, and look for ways in which each one of us can get to know, understand and support initiatives, projects and organizations in our local area. Mazars has illustrated this in the best possible way in their Community Day.

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This was also a special event for all the people who work at Mazars in Denmark, and a great opportunity to work on social KPIs like community engagement, employee satisfaction as well as diversity and inclusion.

Anne Arnested - Senior accountant

We met with Be Free in Nørrebro, where we were split into the Green team and the Sports team. I was part of the Green team, whose mission consisted of helping beautify an area (removing bushes and crabgrass, planting flowers, making new benches, etc.) that Be Free wants to use for different activities with the young people.

After lunch, we went to Furesø and Fiskebæk Naturskole, where we participated in different activities, such as magnet fishing to "catch" and remove trash from the bottom of Furesø lake.

Be Free mostly depends on voluntary work and fundraisings, so I think that offering a helping hand during our Community Day made a big difference for them. Moreover, I was especially amazed by their dedication to help youngsters in need.

All in all, the Community Day is important because it is an opportunity to demonstrate that social awareness, positive impact, as well as collaboration with local communities and contribution to their progress are very relevant for us.

Nicklas Rasmussen – Director

The Sports team, which I was part of, played basketball on the street at Nørrebro with the youngsters, which I really enjoyed. We also practised parkour, thanks to which we learned certain jumps and movements.

We had lunch nearby, and afterwards we all went to Furesø, where, among others, we had a chat with the association members while enjoying homemade cakes and coffee around a bonfire.

I think it is important to have a Community Day, since it helps us get to know others' realities and situations, and it is healthy to both be part of the community and learn new things. Moreover, I consider that doing sports together is a great way of connecting people across different cultures and backgrounds, and I hope Mazars in Denmark has contributed to a fun day also for Be Free.

Baraa Bdair - Assistant

As part of the Sports team, I would highlight our involvement in playing basketball and practising parkour with the local youngsters.

In my view, the Community Day is one of many great initiatives to show Mazars' commitment with sustainable development and positive impact on society, including employees' and other people's health and wellbeing, as well as improvement of the environment the company operates in.

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In the light of all aspects above-mentioned, there is no doubt that Mazars in Denmark places a high value on the social pillar of ESG, since our firm cares about and works towards the progress of its relationships with people through initiatives and actions that positively impact individuals, local communities and society.