Matt Canter, partner at Global Strategy Group, participated in a video interview at Nareit’s REITworks: 2023 Conference in Las Vegas on June 28-29.
Global Strategy Group is a research, public affairs, and communications agency that, among other things, studies the divide between public perception and political rhetoric on ESG.
Canter noted that despite a 300% increase in media coverage of ESG over 18 months, “the conversation on ESG hasn’t really penetrated the public writ large,” with 59% of Americans saying they are not familiar with the term.
“Framing and driving a narrative is really important,” Canter said, which is all about data and reporting. Failure to frame the narrative will result in some partisan differences emerging, he noted.
Canter also said Global Strategy Group has recommended companies stop using the term ESG. Acronyms can get weaponized, he said, and can make people feel “that they are not in the know. That’s not what this is about.” Responsible investing, long-term investing are potential replacement terms for ESG, but there isn’t one catch-all term for this work, he added.
Meanwhile, Canter commented on the need to take stock of assets that could become liabilities or face questions from stakeholders or policymakers. At the same time, companies should lean into these assets, noting that ”building out a proactive strategy around that is critical.” Being able to tell a story and contextualize what a company has done, and why, is critical, he added.