Addressing socio-ecological issues in marketing: environmental, social and governance (ESG)

O. C. Ferrell ()
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O. C. Ferrell: Harbert College of Business, Auburn University

AMS Review, 2021, vol. 11, issue 1, No 12, 140-144

Abstract: Abstract This commentary addresses the Social and Ecological Thought (SET) framework based on virtue ethics (Dyck & Manchanda, in AMS Review, 2021). The basis of this framework is to replace utilitarian values that focus on profit maximization. The Financial Bottom Line (FBL) is believed to be a mainstream utilitarian philosophy. In addition, the Triple Bottom Line (TBL) is considered inadequate to address socio-ecological issues because there is a major focus on financial performance. After addressing some of the limitations in the SET framework, the Environmental, Social and Governance (ESG) framework is presented as a more relevant alternative. ESG provides a lens for creating priorities for socio-ecological comparative performance based on industry, investors’ and peer index scores. There is a strong correlation between ESG performance and profits. Compelling evidence is provided that suggests there is no conflict between socio-ecological responsibility and financial success.

Keywords: Socio-ecological; Virtue ethics; Financial bottom line; Environmental; Social & governance; ESG (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (3)

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DOI: 10.1007/s13162-021-00201-3

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