It may not be the first thing that comes to mind when you think of ESG, but governance has an important role to play in the wellbeing and mental health of your staff.

Governance is crucial to embedding ESG in decision-making and avoiding the creation of conflicting policies.

A change in market sentiment on ESG has seen fund inflows fall. But new legislation and regulation of ESG rating agencies could arrest the current backlash by firming up ESG criteria and helping companies demonstrate compliance with good, objective, ESG criteria.

For ESG initiatives to thrive, the need to be led by individuals with the right mix of specialist knowledge and broad business experience.

Companies need to understand how investors and stakeholders use their ESG data to make sure that it is communicated in the most effective way.

As a result of being easier to measure and less likely to conflict with profit making, the E of ESG has dominated efforts – it’s time for the S to claim its place at the centre of this acronym.

High hopes and voluntary codes mean we’re missing out on the real benefits that a rules-based ESG system could create.

Governance may need to be revisited as the line between business and politics blurs.

The shift towards a more regulated environment means companies should be more aware than ever of the risk of non-compliance.