Concept Note:
Ensuring environmental protection and social inclusion along with better business governance are the daunting challenges of our time. The Environmental, Social, and Governance (ESG) approach provides a unique way to identify material risks, and growth opportunities in addition to screening corporate-based investments. The three pillars of ESG are fundamentally entwined. How ESG approach can help the private sector avoid risks, transform environmental actions, and build better relationships among stakeholders for better sustainability is a challenge as well as opportunity. Similarly, how environmental sustainability can be extended to safeguard social equality, diversity, and better product management for employees and end-users is a big question. Linked to this are the ethical considerations that support businesses to devise sustainable policies and plans to uphold the societal norms and values under which they are operating. ESG approach is not new, in fact, it is aligned with global efforts for attaining the 17 Sustainable Development Goals (SDGs), which helped bring it more prominence and urgency. According to some media reports, the ESG-linked product manufacturing as well as
trading has increased manifold globally. However, accurate assessments are still missing due to the complexity and disagreement on monitoring and reporting frameworks and mechanisms. In Pakistan, the ESG approach can be enhanced in businesses. With the rise of environmental and social concerns, it is imperative to discuss ESG approach in terms of its progress and performance on the one hand, and gaps in terms of understanding, integration, risks and opportunities for businesses on the other. To initiate a threadbare discussion in this regard, SDPI and Nestlé Pakistan are organizing a seminar with the following questions/objectives:
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