The COVID-19 pandemic has altered the global business landscape, accelerating awareness of the environmental, social, and governance challenges that businesses must confront. In this context, promoting and implementing ESG (Environmental, Social, and Governance) principles is necessary and a pressing priority while creating new opportunities and challenges for businesses to create sustainable value and adapt to the evolving market.
Read more:
- What is ESG? ESG investment creates competitive advantages for businesses
- What is ESG report? How to implement ESG report
Why has ESG become more important after the pandemic?
There are several reasons explaining this, including:
- Demand for a sustainable future: The COVID-19 pandemic has heightened awareness of the risks and challenges posed by climate change and other environmental issues. Therefore, the demand for a sustainable future is increasing, driving investors and businesses to pay more attention to ESG factors.
- Enhanced social cohesion: The pandemic has exacerbated social inequalities and exposed gaps in social safety nets. This has led investors and businesses to focus more on social factors in their business activities, aiming to contribute to building a fairer and more inclusive society.
- Elevated importance of good corporate governance: The COVID-19 pandemic has demonstrated the importance of good corporate governance in helping businesses navigate crises and maintain sustainable development. Consequently, investors are increasingly interested in governance factors such as transparency, accountability, and compliance.
Impact of ESG after the COVID-19 pandemic
1/ Changing investor behavior
The developments of the COVID-19 pandemic have drawn investors' attention to ESG factors when making investment decisions. According to MSCI research, 84% of global institutional investors integrated ESG into their investment processes in 2020. This indicates that investors perceive ESG not only as a trend but also as a crucial factor in ensuring long-term returns and creating community value.
2/ Driving innovation
To meet the growing demands of investors and society for ESG standards, businesses are innovating and applying new technologies to improve their ESG performance. For example, many companies are focusing on investing in renewable energy and developing environmentally friendly products and services. Through these efforts, they are not only creating business value but also contributing to society's sustainable development goals.
3/ Increasing community awareness
The COVID-19 pandemic has raised community awareness of the importance of ESG in business activities. This prompts businesses to demonstrate their ESG commitments more clearly and transparently to gain the trust of customers and the community. Building and promoting appropriate ESG policies and actions not only help businesses overcome current challenges but also create long-term benefits for both them and the communities they serve.
ESG Webinar Program
ESG (Environmental, Social, and Governance) is not just a trend but also a crucial responsibility for businesses in today's era. Especially after the Covid-19 pandemic, conducting ESG-oriented business activities has become increasingly essential.
This webinar will provide you with valuable information about ESG, helping you understand its benefits, importance, and implementation trends in the current context. The webinar will also introduce iLotusLand Platform and Link Public solutions as useful tools to help businesses manage and monitor environmental data effectively and then achieve the ESG standard.
Details of the Webinar program:Towards ESG Excellence with iLotusLand”
Conclusion
In the context of the COVID-19 pandemic, the importance of ESG factors (Environmental, Social, and Governance) has been asserted more strongly than ever. Changes in investor behavior and the drive for innovation from businesses, coupled with heightened community awareness of ESG, have created a new vision for responsible and sustainable business practices in the future. This is not merely a trend but a decisive factor for the success and survival of businesses in this tumultuous period. Promoting and implementing ESG principles is a corporate responsibility and an opportunity to create sustainable value and foster comprehensive development. Only when we collectively strive for a sustainable and peaceful future can businesses truly thrive and contribute to the progress of society and the environment.
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