Sustainable Environmental, Social and Governance (ESG) development of China and ASEAN in a volatile, uncertain, complex, and ambiguous (VUCA) world

Abstract

A volatile, uncertain, complex and ambiguous (VUCA) world presents both challenges and opportunities. One good example is the increased focus on Environmental, Social and Governance (ESG), which can be viewed as a barrier for growth or as a competitive advantage for countries. For countries to view ESG as a competitive advantage, there are three key opportunities to tap on. First, nations could collaborate on ESG technology, specifically on the development, deployment or building of ESG technological infrastructure. Second, nations could share best practices regarding their solutions to social issues such as social mobility. Third, nations could collaborate to harmonise ESG standards to promote trade between countries.