Abstract
Since the beginning of this century, political-economy patterns in national growth and that of business management have been both under severe stress and transformations imposed by global challenges. Responses from countries have been rather inactive and controversial so far, producing generally plausible and often negative results. It is becoming evident that the UN Agenda-2030 initiatives and 17 SDGs (sustainable development goals) from 2015 are in deep crisis, i.e. about a third of the SDG targets will not be achieved in Europe by the deadline; hence there is a need for some “assistance tools”. Recently the academic community has been widely discussing the ways ESG (environment, social and governance), which could serve as a savior; both for the corporate sector and national growth models, is facing unprecedented pressures and risks related to developmental uncertainties. Thus, implementing an ESG rating system, the corporate facilities are equipped with the tools necessary to tackle climate mitigation and environmental threats, wellbeing and sustainability.
The paper provides analysis of the ESG triangle’s vital elements and gives a valuable insight into the complexities that companies face in publicly revealing corporate agenda: i.e., regarding employment, sustainability of supply chain, products safety, and eco-quality, etc.
Additionally, the research examines ESG’s contributions to increasing interest of many investors in assessing and measuring company progress in sustainability and national political-economy patterns using ESG ratings, which are already compulsory in several states around the world and in Europe. Finally, the paper provides an overview of recent ESG’s pros and cons, as well as makes some practical recommendations in ESGs progressive implementation. The author concludes that the attention to the ESG triangle components in the revamped corporate strategies would contribute to more sustainable, clean and resilient growth; hence, the paper’s main contribution to theoretical and conceptual impetus into ESG’s advance knowledge and acceleration.