The S of ESG: Social Impact Conceptualisation and Contextualisation

This PhD project addresses the urgent need to define, measure, and integrate social impact as a core dimension of Environmental, Social, and Governance (ESG) frameworks. While the “E” (Environmental) and “G” (Governance) components have garnered substantial research attention, the “S” (Social) component has lagged behind. Yet, social impact is fundamental to the overall success of ESG initiatives, as it directly addresses issues of equity, inclusion, community development, and human well-being— key elements essential for fostering sustainable and ethical business practices. Without a robust focus on the “S,” ESG efforts risk being imbalanced and failing to account for the human and societal dimensions that underpin long-term sustainability and resilience.

Despite its undeniable importance, the “S” in ESG faces significant challenges, including fragmented definitions, inconsistent metrics, and limited integration into corporate strategies. This gap undermines businesses’ ability to evaluate their contributions to societal progress, meet stakeholder expectations, and comply with growing regulatory and consumer demands for transparency and accountability. Addressing these challenges is essential for companies seeking to embed meaningful social impact into their operations and align with the evolving ESG landscape.

Aim and Objectives:

The project aims to define, measure, and contextualise social impact within ESG frameworks. To meet this aim, this project sets out to:

*Investigate how businesses conceptualise and implement social impact, identifying barriers and enablers across industries, regions, and organisational contexts.

*Develop standardised Social Impact KPIs (SI-KPIs) and a reporting framework tailored to various sectors, ensuring transparency, comparability, and accountability.

*Conduct comparative case studies to analyse cultural and demographic influences on social impact strategies across sectors and regions.

PhD candidate’s aim and approach:

The candidate aims to bridge academic research and business practice by contributing transformative knowledge and tools to the emerging field of ESG, with a focus on social impact. Using mixed methods – systematic reviews, empirical studies (e.g., surveys, interviews, and secondary data analysis), and comparative case studies, the project will ensure practical relevance.

This research will advance the understanding of social impact as a core ESG component, addressing challenges in its conceptualisation, measurement, and contextual application. The project will deliver actionable tools, i.e., a standardised reporting framework, to guide businesses in assessing and communicating their social impact performance. Insights from this study will inform policymakers and regulators, harmonising social impact standards and promoting corporate accountability.

Nottingham Business School is triple crown accredited with EQUIS, AACSB and AMBA – the highest international benchmarks for business education. It has also been ranked by the Financial Times for its Executive Education programmes in 2023 and 2024. NBS is one of only 47 global business schools recognised as a PRME Champion, and held up as an exemplar by the United Nations of Principles of Responsible Management Education (PRME).  

Its purpose is to provide research and education that combines academic excellence with positive impact on people, business and society.  As a world leader in experiential learning and personalisation, joining NBS as a researcher is an opportunity to achieve your potential. 

Applications for October 2025 intake closes on 1st July 2025 and applications for Jan 2026 intake closes on 1st October 2025.