ESG
We see Enterprises as a very important component of the modern economies and our proposed alternative paradigm on ESG is derived from the Firm-Market paradigm inspired by the thoughts of 1991 Nobel Laureaute in Economics Ronald Coase with the key being whether the society can establish a virtuous cycle between the Market and its Firms,
We think the Firms have certain ESG duties to their Markets which would actually would work to enhance the interest of the Firms eventually, thus completing a Virtuous Cycle between the two.
As such, we see the ESG movement as part and parcel of the growing public expectations on corporate responsibilities and our paradigm on ESG highlights the positive feedbacks companies can reap from investing in ESG and one key aspect of ESG should be the city country; the community/ districts they operate as well as the shareholders staff they are facing with which constitutes 3 major aspects of “The Market” facing them.
As such, apart from global climate and the broader importance of a green and sustainable physical environment, we also see the cities/ countries; districts/ communities; staff industry as also constituents of “the Market” faced by companies, whether they are public or private.
Our paradigm on ESG is based on refining the concepts of ESG, with three sub-categories on each of its 3 components. For E, we shall refer to green assets; green operations,; and green innovations. For S, we shall refer to social enjoyment; social investment; and social enlightenment. For G, we shall refer to governance to all shareholders; governance to all staff ; and governance to their industry globally.