NOVEMBERASIA BUSINESS OUTLOOK9WHY ESG IS A MUST FACTOR FOR INVESTORS & BUSINESSESIMPRESSIONSThe first goal on the list of any business is to have strong growth and good profitability, this has been the de-facto rule for ages, but in the relentless pursuit of profitability the externalities produced by the companies have yielded more harm than good for the planet and this strong drive for monetary profit won't sustain the ecosystem for long, changes have to be made if a better world is to be left for the future, there is no better time than now to do ethical sustainable business and support responsible ESG (Environment, Social and Governance) for the future.When a company adopts ESG principles, its corporate strategy is centered on the three pillars of environment, social responsibility, and good governance. This entails taking actions to lessen waste production, pollution, and CO2 output. Additionally, it entails having an inclusive and diverse workforce, from entry-level employees on up to the board of directors. ESG may be expensive and time-consuming to implement, but it can also pay off in the long run for those Who See It Through.Economic Repercussion of Climate ChangeThe general notion of thought is that the weather and climatic conditions do not impact a business in any way, but that's only on the surface, climatic conditions impact the businesses in indirect ways in which one cannot fathom such as extreme heat which deteriorates the quality of raw materials which is used in processed and organic food in the food industry which leads to health complications spiraling into a business's reputation and in-turn their sales and the wide scale damage caused by natural human aggravated calamities is in the trillions. The longer we delay in adapting our business models to be minimally harmful on our surroundings, the more the cost will compound when left for a later date. Investors have to consider the impact of a heating world on their investments and have to educate themselves on the economic ramifications of climate change and join hands with policy makers and corporates to help them and set suitable benchmarks for sustainable business. The drive for short term profits must be seriously reconsidered in the current model of profitability
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