As a region, ASEAN has been highlighted as an economic powerhouse with immense potential for growth and development as the region’s annual GDP growth rates surpass world aggregates for the past decade. Common drivers of revolutionary changes among ASEAN enterprises include digitalisation, rising income levels, a youthful population, increasing literacy rates, as well as attention to environmental, social and governance (ESG) which has become a key aspect for resilience and sustainable development in ASEAN. Under the ESG umbrella lies multiple facets:
– Environment: climate change, carbon emissions, resource management, environmental conservation, environmental pollution
– Social: working conditions, responsibility to the community, health and safety, employee and people relations
– Governance: bribery and corruption, laws and regulatory compliance, board composition