S3 Affected communities
S3 Affected communities requires transparency about impacts on communities and indigenous people that are affected by the reporter's business activities through their own operations and value chain.
ESRS S3 Affected communities is focused on assessing and reporting a company's interactions with communities affected by its operations. The core of this standard involves measuring and improving social impact, community engagement, and the well-being of affected populations.
The primary goal of ESRS S3 is to help companies foster positive relationships with affected communities, promote community development, and contribute to their well-being. It provides guidelines and criteria for assessing and mitigating the social impacts of business activities, as well as for enhancing community engagement and support.
By following ESRS S3, companies aim to be responsible corporate citizens and positively impact the communities where they operate. The standard encourages transparency in reporting and empowers companies to make a positive difference in the lives of those affected by their operations.
In summary, the core and goal of ESRS S3 Affected communities supports companies in building strong, mutually beneficial relationships with communities, and social well-being.
