Theme: Emerging Paradigms of Environment, Social and Governance goals: Challenges and way forward

Abstract

Globally, Environmental, Social, and Governance (ESG) frameworks have become critical in addressing the pressing challenges of climate change, resource depletion, and social inequalities. These frameworks aim to foster long-term resilience and innovation while aligning with global sustainability goals(Mitter et al., 2018). The emerging ESG paradigms offer a holistic approach to integrating environmental sustainability, social equity, and ethical governance into business strategies, addressing global challenges like climate change while promoting long-term resilience and innovation(Eisenack et al., 2012; Hornsey et al., 2021). Developing countries, often the most vulnerable to climate impacts, face significant challenges in securing sustainable energy solutions that support both economic growth and environmental preservation(Busby, 2007). This paper explores how the 12 principles are embedded and incorporated, challenges and opportunities in adopting safer, sustainable chemical procedures aligning with environmental goals, acting as a catalyst for meeting targets, case studies of developing industries, reduction of carbon footprints and supply chain with balancing economic viability(Sree Kumar et al., 2020). The paper comprehensively provides insights into challenges, opportunities, and best practices for industries to balance economic viability with sustainable development(Müller et al., 2018).