Environment, Social and Governance (ESG)- The New Era of Corporate Sustainability
ESG is a terminology that is slowly gaining importance among sustainability-enthusiasts who are aware of the fact that committing to environmental and social development will not hamper the present corporate motto of maximizing the profits. ESG, the acronym for Environmental, Social and Governance, talks about a mechanism that integrates environmental sustainability, social responsibility and efficiency in governance into an organization’s business strategies in order to maximize the outcomes in terms of safer environment, stronger community relations and sustainable investments. Evolution of the concept of ESG The concept of sustainability and ESG has undergone tremendous changes over the last few decades. The early industrialization and increased use of pesticides resulted in growing concerns about environmental pollution. As a result, the modern environmental movement began in 1960s, which led to a new era of social responsibilit