Implementation of Environmental, Social and Governance (ESG) Principle in Business Practice

The concept of environmental, social and governance (ESG) is rapidly emerging as the new global industry standard and an important benchmarking tool for socially responsible investments. Major corporations seek the expertise of specialized consultants to develop and implement tailored ESG framework for their businesses. This book offers a guide to ESG and its practical applications. Beyond introducing the structured procedures of the most common ESG approaches, it delves into the comprehensive impact on the value chain, providing practical insights. The text explores the latest trends in various business sectors, offering insights into their ESG practices. Closing with a forward-looking perspective, the book anticipates future developments such as climate change management and ESG certifications, while also addressing potential pitfalls encapsulated by the term “greenwashing”.Written by authors with a solid background in teaching and research, the book establishes a robust theoretical foundation. The inclusion of numerous practical examples and country-specific recommendations enhances this book’s applicability and makes it an invaluable resource to those navigating the complexities of ESG.

Tracy Dathe is a Business Management Professor at Macromedia University, Berlin, Germany. She has a rich background in finance, previously holding the position of Chief Financia Officer (CFO) for a multinational medium-sized automotive supplier. In this capacity, she oversaw commercial management across various legal entities in Germany, China, France, Italy, Sweden, the Czech Republic, Turkey and the USA.Marc Helmold is a Professor at the IU International University, Berlin Campus, Germany. He teaches Bachelor, Master and M.B.A. students in lean management, strategic management, and supply chain management. Prior to this position, he had several top management positions in automotive and railway companies. In parallel, he owns the consultancy MaHeLeanCon and supports international transactions and market entry strategies.René Dathe is an esteemed business executive in the global research-based pharmaceutical industry. With a strong focus on project management, medical technology, and quality management, he has become a key figure in steering success in those domains. His leadership extends to his oversight of global development projects and alliances across Asia, Europe and North America with constantly expanding areas of responsibility.Isabel Dathe is a Sustainable Management student at the Technical University Berlin, Germany, after a 3-year excursion into the Berlin media industry. Committed to sustainability and social justice, the young academic advocates for and vows to represent the interests of the next generation with her well-founded contribution to activism.