Exploring Business Sustainability: ESG Pillars in Malaysia and the United Kingdom
Abstract
Many forward-thinking academics, consultants, executives, and non-governmental organisations (NGOs) leaders have promoted a theory outlining how businesses can prosper while pursuing a more socially responsible agenda over the last 20 years. They believed that if businesses committed to measuring and reporting publicly on their sustainability performance, such as the environmental, social and governance (ESG) performance of individual companies would improve while methods for measuring the ESG impact would become more rigorous, precise, and widely accepted. This article aims at exploring how businesses would gain valuable benefits from the initiatives being undertaken towards sustainable development. A comparative exploratory analysis of the two different nations; Malaysia and the United Kingdom was applied describing the efforts of businesses initiatives toward sustainability. It is based upon a series of semi-structured in-depth interviews with top executives of the companies as well as observations and content analysis of internal and external documents about the company’s efforts towards sustainability initiatives. The result presents both nations emphasise on the emerging themes in principles of efficiency such as business aspirations mandated from company policies, cultural orientation of the company on the influence of leadership roles, and the valuable benefits gained from sustainability initiatives via process improvements in their business conduct. However, differences exist in the national aspirations attached to sustainable business practices as well as the cultural dimensions associated with them. By addressing the identified issues, policymakers and managers in the manufacturing industry could achieve more robust integrated sustainability strategies.
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About this article
Publication Date
06 May 2024
Article Doi
eBook ISBN
978-1-80296-132-4
Publisher
European Publisher
Volume
133
Print ISBN (optional)
-
Edition Number
1st Edition
Pages
1-1110
Subjects
Marketing, retaining, entrepreneurship, management, digital marketing, social entrepreneurship
Cite this article as:
Hamid, N. H. A., & Saihani, S. B. (2024). Exploring Business Sustainability: ESG Pillars in Malaysia and the United Kingdom. In A. K. Othman, M. K. B. A. Rahman, S. Noranee, N. A. R. Demong, & A. Mat (Eds.), Industry-Academia Linkages for Business Sustainability, vol 133. European Proceedings of Social and Behavioural Sciences (pp. 11-26). European Publisher. https://doi.org/10.15405/epsbs.2024.05.2