ENVIRONMENTAL, SOCIAL AND GOVERNANCE FACTORS AND CORPORATIONS
Institutionalisation of Moral and Sustainable Imperatives
Abstract
After taking an overall view of Environmental, Social, and Governance (ESG) factors in industry and management, which have become popular in the last decade, the authors look into their gradual development in the globalised world and their significance in contemporary investing, the driving force of industries. There is a gradual evolution from Corporate Social Responsibility (CSR) and the United Nations’ Sustainable Development Goals (SDG) to ESG, showing modern society’s progressive awareness of the need for moral values and sustainable growth. Finally, the authors examine the specific and growing situation in India, where ESG has not been mandatory. An analysis of the gradual emergence of ESG in India makes it clear that ESG is key to moral vision, sustainable development and inclusive growth, which are the moral imperatives for our sustainability. The ESG is to be made mandatory after giving enough time for the industry to change over.
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