Commonly used words...but are they all clear?
Social Licence to Operate – unofficial permissions from stakeholders and communities, with impacts on permitting and licensing
Permission to Operate – unofficial permissions
Non-Technical Risk – applying engineering thinking to wider risks
Above Ground Risk – oil and mining term to cover wider risks
Sustainability – many definitions, some meaning environmental and social focus
Sustainable Development – wide definition, from Gro Harlem Brundtland to philanthropic projects done by companies
Philanthropy – normally refers to voluntary contributions to good causes with limited relevance to the core business
CSR or just Corporate Responsibility – often used interchangeably with philanthropy
Social Investment – additional donations made to local operations, with more or less link to the business itself
Environmental, Social and Governance or ESG – usually a term used in the finance sector describing how companies manage wider risks
Strategic Social Investment – donations that clearly seek to build a link to the business
Secondary regulation – chemicals industry term, meaning unofficial pressure from suppliers or purchasers in the value chain passing their requirements along
Shared Value – ideally referring to the creation or development of business models that bring benefits all along the value chain to the societies they operate in, but often meaning the same as social investment
Enterprise Value – business language that tries to encompass a wide range of risks and issues and their impact on the core business
Impact Investing – investment with a social purpose, usually with a lower or slower rate of return
Social Performance – managing the positive and negative impacts of corporate activity on the communities and societies that they operate in
Citizenship – vague term implying responsibility