Transforming Businesses With Environmental Social Governance (esg)

Abstract

Since the business environment experiences constant change, integrating Environmental Social Governance (ESG) into a business's strategy presents a potential opportunity for a business to become more progressive, resilient, and sustainable. To effectively integrate and implement an ESG strategy/initiatives into their business, companies are increasingly turning to digital technologies. With a focus on the retail industry, this thesis investigates the influence of digital transformation on business's ESG initiatives. This will be accomplished by performing a framework analysis on ESG initiatives from 10 representative businesses in the retail industry. This examination will help gain insight into how digital technology influences ESG initiatives in businesses. The research finds that digital technology influences ESG initiatives by enhancing or creating value. These findings provide insights to develop better approaches to implement ESG initiatives, accelerate and encourage businesses to adopt ESG initiatives, decide the type of ESG initiative and method businesses pursue, and potentially formulate ESG strategy. Keywords: business environment, Environmental Social Governance (ESG), digital transformation, retail industry, framework analysis, digital technology, ESG initiatives, value creation, sustainability