THE ROLE OF ESG IN DRIVING CORPORATE SUSTAINABILITY PRACTICES IN THE CONTEXT OF GLOBALIZATION CHALLENGES

Abstract

Environmental, Social, and Governance (ESG) criteria have increasingly become integral to corporate sustainability strategies in the era of globalization. This study explores the role of ESG factors in enhancing corporate sustainability practices amid global challenges such as regulatory pressures, stakeholder demands, and market competition. Using a qualitative approach, the research examines how companies integrate ESG principles into their operational frameworks to achieve sustainable growth. Data were collected through case studies and document analysis of multinational corporations operating in diverse sectors. Findings indicate that ESG adoption not only improves environmental performance but also strengthens social responsibility and governance structures, contributing to long-term resilience and competitive advantage. The study highlights the importance of stakeholder engagement and transparent reporting as key drivers for effective ESG implementation. Furthermore, it discusses the challenges corporations face in aligning ESG goals with business objectives, particularly in the context of varying global standards and cultural differences. The implications of this research provide insights for managers, policymakers, and investors seeking to promote sustainability through ESG frameworks. The study concludes that ESG serves as a critical tool for companies to navigate globalization challenges while advancing sustainable development agendas.