Catalyzing Change: ESG Integration in the Global Economy for a Resilient and Responsible Future

Andreea-Larisa Olteanu (Burcă) (), Corina Aurora Barbu () and Alexandra Popa ()
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Andreea-Larisa Olteanu (Burcă): “Ovidius” University of Constanta, Faculty of Economic Sciences, Romania
Corina Aurora Barbu: “Ovidius” University of Constanta, Faculty of Economic Sciences, Romania
Alexandra Popa: “Ovidius” University of Constanta, Faculty of Economic Sciences, Romania

Ovidius University Annals, Economic Sciences Series, 2023, vol. XXIII, issue 1, 1022-1031

Abstract: Considering the global state of the current economy we can notice a slowdown across both developed and developing countries, most of them facing the risk of recession. This paper aims to explore the intersection of ESG, and the pressing challenges confronting the global economy. The article will emphasize the significance and urgency of addressing these challenges to foster sustainable growth and resilience. The study seeks to analyze potential benefits that the integration of ESG norms can bring to the global economy and highlight the reasons why it has become so crucial. The research methods employed provide an overview of the key issues with the greatest impact that are shaping the present global economy as well as how ESG - Environmental, Social, and Governance factors have emerged as catalysts for change by mitigating risks, capitalizing on opportunities, and driving long-term value. The findings of this study serve as a foundation for developing more viable and resilient practices, enabling informed decision-making, and ensuring the long-term sustainable growth of the global economy overall.

Keywords: environmental social governance (ESG); climate change; global economy; technology; sustainability (search for similar items in EconPapers)
JEL-codes: F01 F21 M14 M16 M48 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:xxiii:y:2023:i:1:p:1022-1031

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