这题我知道选C，就是好奇A选择中的social具体是啥意思

问题如下：

The most relevant industry risk factors affecting Titian are:

选项：

social.

governance.

environmental.

解释：

C is correct. In identifying a company’s ESG risks and opportunities, an analyst must determine which ESG factors are relevant to its industry. Industries such as energy and steel are typically more impacted by environmental factors. This is clearly the case with Titian. Titian’s steel production is energy intensive and relies on coal in producing its main product, stainless steel. Its major customers are oil and natural gas companies, and most of its steel capacity is located in developing economies, where it currently faces few environmental regulations. Changes in such regulations and projected declining demand for its main product are major risk factors for the firm.

B is incorrect because social factors are typically not the most important industry-related ESG risk factors for steel companies. Employee health and safety is a material social factor for this company. This is not a risk since the company has an excellent record on employee health and safety.

C is incorrect because governance factors are not a major risk for Titian. Titian’s board comprises 10 members, of whom 5 are independent. In addition, the board has gender diversity and no CEO duality, since the chairperson is not the CEO.