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Journal of Thermal Engineering and Applications Review Article

Advancing Sustainability: A Comprehensive Review of Environmental, Social, and Governance (ESG) Practices

  1. Rupesh Kumar Malviya Pini India Private Limited, Shakurpur, Delhi 2. Sr. Resident Engineer, WSP Indore Metro project, Indore
  2. Anupam Vijay WSP Indore Metro project, Indore,
  3. Aman Kumar Singh Safety Madhya Pradesh Metro Rail Corporation Limited

Abstract

Environmental, Social, and Governance (ESG) frameworks have emerged as critical pillars guiding sustainable business practices and responsible investment decisions. This review explores the multifaceted role of ESG principles in promoting environmental stewardship, advancing social equity, and ensuring ethical governance. Environmentally, ESG focuses on combating climate change, conserving biodiversity, and managing resources through renewable energy adoption, waste reduction, and carbon emission control. Socially, it emphasizes employee well-being, diversity, community engagement, and ethical supply chains, fostering stakeholder trust and societal value. Governance principles underpin transparency, accountability, and ethical decision-making, which are essential for long-term organizational integrity. While ESG implementation offers transformative potential, challenges remain. High costs, lack of standardized frameworks, and regional regulatory disparities hinder widespread adoption. Complex global supply chains and the risk of greenwashing further complicate ESG integration. Despite these barriers, the study highlights how technological innovations, supportive regulations, and increasing stakeholder awareness are accelerating ESG adoption. ESG aligned organizations benefit from operational efficiencies, enhanced brand reputation, investor appeal, and improved risk management. The study underscores the alignment of ESG goals with the United Nations Sustainable Development Goals (SDGs), illustrating how businesses can drive positive environmental and social change while securing competitive advantage. Additionally, ESG research continues to evolve, with growing emphasis on performance metrics, sectoral applications, and data driven evaluation frameworks. The analysis concludes that ESG is not merely a compliance tool but a strategic imperative fostering resilient, ethical, and future-ready enterprises. As sustainability becomes a core expectation from stakeholders, integrating ESG across business functions is essential for global progress and equitable development

Keywords

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