Equity is defined as “fair treatment, access, opportunities and progress for all people, while striving to identify and remove barriers that have prevented the full participation of some groups”. For this reason, it is considered to be one of the three pillars of sustainability, along with the environment and the economy.
According to the World Health Organization, the visibility of equity has increased as a central component of sustainability in recent years. Leading cities, regions and organizations are now making equity a central element of their sustainability efforts, in name and in practice. This doesn’t stop there because if society is ready to tackle global inequity, companies will need to be deeply involved in this change.
In the case of companies like Enel, innovation and sustainability go hand in hand and are part of our DNA. That is why, among other reasons, Enel has participated in one of the case studies within the guide “Centering Equity in Corporate Purpose” released by Shared Value Initiative (SVI) and FSG.
Centering Equity in the Corporate Purpose
The private sector has a fundamental role to play in addressing major social issues worldwide and, for those like Enel whose goal is to grow in achieving equitable results at all levels of the company, Creating Shared Value (CSV) is one of the best tools.
Last May, with the CSV model as an important component, SVI and FSG published “Centering Equity in Corporate Purpose”, an in-depth guide addressing equity in all its forms, including but not limited to racial, gender, sexual identity, ability, socio-economic and religious equity. This practical guide helps business professionals to integrate equity into the company’s main activities, with the objective of contributing to the long-term success of the company and society through more equitable results for all. The guide shares five key practices for developing this strategy through equity, also providing a set of enabling conditions that organizations should adopt to realize their strategy and integrate equity into all aspects of their business.