THE GROWING IMPORTANCE OF ENVIRONMENTAL, SOCIAL AND CORPORATE GOVERNANCE: RISKS AND OPPORTUNITIES FOR COMPANIES
THE GROWING IMPORTANCE OF ENVIRONMENTAL, SOCIAL AND CORPORATE GOVERNANCE: RISKS AND OPPORTUNITIES FOR COMPANIES

Summary/Abstract: Accelerating climate change, the massive energy transition, growing economic disparities, fast digital transformation and exacerbated resource constraints are all factors that have made environmental, social and corporate governance (ESG) increasingly important for companies. Many companies make supply chain sustainability an integral factor in achieving global ESG targets. In order to align with international agreements, leaders adopt frameworks for setting industry targets. These frameworks allow companies to analyze, measure and communicate the social and environmental impact of their supply chains. Supply chain practices are the biggest obstacle to achieving sustainability, so they require maximum commitment from corporate decision makers. Supply chains are a complex network of different levels of suppliers that are interdependent and interconnected. The more complicated a supply chain, the more exposed the organization is to uncertainty and risk. Failure to manage ESG risks could trigger huge losses in the company's reputation and compromise business continuity.

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