IMPACT OF ESG INDICATORS ON ECONOMIC GROWTH

Abstract

The article examines the influence of ESG (Environmental, Social and Governance) factors at the macroeconomic level. The changes in economic growth from the implementation of environmental, social and managerial aspects of sustainable development in 21 countries for 2000–2022 are analyzed. The study was carried out using the methods of cointegration, correlation and regression analysis. It was found that there is a positive relationship between ESG and GDP (Gross Domestic Product) per capita. The results obtained could be used for subsequent theoretical and empirical developments in the field of implementation of ESG principles, as well as the humanization of economic growth. In addition, the integration of environmental, social and managerial factors into macroeconomic analysis is not so much a choice as a necessity. Identifying emerging trends and assessing potential consequences in the form of opportunities or obstacles to growth is also important for making effective investment and financial decisions.

Keywords

• sustainable development
• economic growth
• esg transformation
• esg principles
• gross domestic product
• humanization
• cointegration
• standard of living