House of Sustainable Society affiliate receives award for ESG guidance to family firms
Sarah Jack, Distinguished Professor of Entrepreneurship and Innovation at Lancaster University Management School and House of Sustainable Society affiliate, is among the authors of “ESG Essentials for Family Firms,” one of the 2024/25 Schulze Publication Award winners. They are awarded in the Applied and Practice category for their article published by FamilyBusiness.org, the world's leading free resource for family business with over 5 million annual visitors.
The award highlights impactful articles that combine academic insight with practical value. Selected based on readership and engagement, it recognizes contributions that resonate with business owners and advisors, translating research into real-world guidance.
“Family firms often think ESG is something for large corporations, but that’s no longer the case,” says Sarah Jack. “Our goal was to show that even smaller, family-run businesses can use ESG to strengthen their values and long-term performance.”
The article draws on a broad review of research, regulations, and business practices across the UK, Europe, and the United States. It shows that ESG is not just about compliance. It can help family firms build stronger reputations, improve access to capital, and retain both employees and customers. At the same time, the authors highlight common challenges, including limited resources, generational differences, and the risk of being seen as insincere.
Turning values into strategy
A key insight is that family businesses are uniquely positioned to benefit from ESG. Their long-term orientation and close ties to communities can make sustainability efforts more credible and impactful. But this requires moving beyond ad hoc initiatives to a clear strategy.
“ESG works best when it reflects what the family already stands for,” Jack explains. “It’s about connecting business decisions to long-term values.”
The article also points to a rapidly changing regulatory landscape. While many rules currently target larger firms, expectations are rising across the board. This makes it increasingly important for family businesses to prepare early, build systems for tracking ESG activities, and communicate their efforts clearly.
For business owners, the key message is to start small but think long term. Align ESG with core values, involve the next generation, and focus on telling a consistent and credible story about the company’s impact.
As sustainability becomes a central part of how businesses are judged, the research suggests that those who act early will be better positioned to adapt and lead.
