ESG stands for Environmental, Social, and Governance. It is a framework that focusses on three key areas of sustainability management and measurement. The environmental component looks at a business' impact on the natural world and climate change, the social component looks at relationships with employees, customers, and communities, while the governance component looks at factors like how the business is led, decision-making processes and transparency in reporting. ESG considerations are becoming increasingly important across the business ecosystem of suppliers, lenders, customers who want to ensure they are working with socially responsible businesses and that they support sustainable practices.