‘ ESG ‘ : Key to Sustainable Development
Introduction
Sustainable development is an idea that attempts to meet current needs without harming future generations’ ability to meet their own. It is a holistic approach that incorporates Environmental, Social factors coupled with Governance (ESG) to a balanced and equitable way forward.
Three Pillars of Sustainable Development
Environmental Stewardship:
Environmental protection and preservation are absolutely important for sustainable development. To mitigate consequences of climate change and minimize ecological damages viz. reducing greenhouse gas emissions, protecting biodiversity, managing natural resources, and switching over to renewable energy sources.
Social Equity:
Sustainable Development aims at promoting “ Social justice and Inclusive growth” viz. eradicating poverty, reducing inequities, ensuring access to education and healthcare, empowering underprivileged populations, and promoting gender equality. Sustainable development shall promote a cohesive and stable world, uplifting all members of society.
The interconnectivity of global concerns is well-recognized in sustainable development. Climate change, poverty, water scarcity, and inequality are no more isolated problems. As a result, solutions may address such issues holistically, taking into account their far-reaching repercussions.
Governance:
Corporates will have to earn profits through their business operations. While economic growth is required for sustainable development, it must be managed by prudent usage of resources, promoting a circular economy in which environment-friendly resources are utilized efficiently, material is recycled, and waste is minimized, encouraging innovation at every stage thereby promoting business while protecting the planet’s health.
ESG: The key words :
Corporates have realized that Sustainable development is essential for humanity’s survival and prosperity. We can construct a path to a more sustainable and resilient society through environmental stewardship, social equality, economic prosperity, and interconnection.
As global citizens, it is binding on us to make sustainable choices so that future generations inherit a planet with ample resources, equitable opportunities, and vital sustained environment. Ultimately mother earth belongs not only to us but also to the posterity.