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The impact organisations have on their employees, supply chain workers, communities, customers and other stakeholders is profound. Organisations that recognise social sustainability as not just a moral obligation but a strategic advantage that allows them to identify impacts, opportunities and risks are making meaningful contributions to the stakeholders they serve.
Social sustainability is intricately tied to environmental and economic sustainability and is directly impacted by how organisations tackle and respond to climate challenges and risk mitigation. By addressing these interconnected issues, organisations can unlock opportunities for innovation, value creation and business reinvention. In so doing, they can also provide opportunities for broad, socially sustainable growth.
PwC offers services that enable organisations to enhance their social sustainability performance and capitalise on value creation opportunities driven by regulatory and reporting requirements related to social sustainability.
What are the drivers of social sustainability?
Our sustainability services are focused on supporting the drivers of social sustainability by building trust through strategic thinking and by solving societal issues at pace and scale.
Stakeholder pressure
Stakeholders are increasingly concerned about social issues and prefer to engage with organisations whose social sustainability performance aligns with their values, as revealed in PwC research:
- 77% of consumers find it very or extremely important for organisations to treat employees/workers fairly and ethically to build trust (PwC Voice of the Consumer Survey 2024).
- Almost half of employees say that opportunities to learn new skills are crucial when deciding whether to stay with their employer or leave for another job (PwC Global Workforce Hopes and Fears Survey 2024).
- 80% of investors say they would increase their investment in organisations working with suppliers and communities to build sustainable value chains (PwC Global Investor Survey 2024).
To thrive, organisations must implement robust stakeholder engagement strategies, addressing the needs of consumers, employees, investors and communities in order to align with evolving social values and sustainability expectations.
Evolving reporting requirements and regulatory landscape
The social sustainability reporting landscape is rapidly transforming, driven by evolving regulations and standards that present both challenges and opportunities for organisations.
To meet complex requirements, organisations must enhance their systems, data management, and teams’ capabilities. Regulatory evolution, including modern slavery laws and gender equality standards, compels organisations to integrate ethical practices into core operations and value chains, enabling rigorous social accountability. How organisations interpret emerging social sustainability concepts is crucial in determining how they invest in it.
How we can help
Social sustainability extends beyond charitable work. Like climate action, it can be quantified in terms of the risks, opportunities and impacts it has on the business and its long-term sustainability.
PwC offers social sustainability services that help clients understand, measure and improve their social sustainability performance, building a more resilient business model and turning risks into opportunities quickly and effectively. By focusing on social sustainability, businesses can enhance their brand, attract top talent and build customer loyalty, leading to long-term success.
We work with clients to achieve fair and lasting results, supporting change to build a future-ready workforce, sustainable supply chains, strong communities and fair market practices.
Social strategy
Developing a social strategy is complex, requiring organisations to navigate diverse stakeholder expectations and regulatory requirements. This involves addressing varied priorities across regions with distinct laws and social standards. Successful strategies seamlessly integrate into all aspects of business, including core strategies and environmental initiatives.
PwC’s social sustainability consulting services provide expertise in creating thorough strategies that tackle the intricate connections among social, economic and environmental impacts. Our support encompasses understanding, identifying, measuring, reporting and transforming social sustainability performance.
Just Transition
As organisations shift to a green economy, changes in energy sources, processes and job markets present opportunities and risks. A Just Transition ensures that this shift is fair and inclusive, creating decent work and leaving no one behind. PwC helps clients develop strategies for equitable transitions, engaging stakeholders, supporting reskilling, advocating for social protections and implementing community support for affected individuals.
Social impact, risks and opportunities
Organisations face challenges in understanding their social impact amid stakeholder pressure to contribute positively to society. Navigating the complexity of impact measurement across activities and regions is crucial. PwC offers strategic planning, impact assessment (including risks and opportunities), management and quantification and evaluation services to integrate social impact into core strategies. Our community engagement approach helps organisations create and drive shared value for both the business and the community in a transparent and collaborative way.
Sustainable workforce (workforce of the future)
Sustainability strategies hinge on workforce alignment, embedding sustainability in culture, behaviour, rewards and talent strategies. PwC advises on pay equity, enhances employee well-being and crafts compelling employee value propositions to attract and retain talent. We promote inclusivity, facilitate workplace dialogue and collaborate with leadership to build a purpose-driven culture.
Sustainable supply chain
Enabling sustainable practices across global supply chains is critical. From a social perspective, the sustainable supply chain can include working conditions, occupational health and safety, non-discrimination, freedom of association and collective bargaining, and fair pay and living wages, as well as supply chain social impacts on communities, such as security, privacy, land-rights and respect for the rights of indigenous peoples. Transparency and traceability are essential to verify the actual and potential risks, impacts and opportunities in the value chain. PwC supports thorough assessments to identify, address and mitigate supply chain sustainability risks and to enable opportunities for suppliers, workforce development and community development.
Social sustainability services case studies
Our work with clients has shown that organisations that prioritise social sustainability not only comply with regulatory requirements but also gain a competitive edge. For instance, our work has demonstrated how integrating social sustainability into core strategies can lead to enhanced employee engagement, improved supply chain resilience and stronger community relations.
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Social sustainability services insights
Additional sustainability services
Contact us
Managing Director, Global Social Sustainability Lead, PwC Australia
Tel: +61 403 778 293