Fundamentals of ESG

Implementing Environmental, Social, and Governance (ESG) practices in small-scale industries presents several challenges. Limited resources, both financially and in terms of expertise, make it difficult for smaller businesses to integrate ESG effectively. Many small businesses may also lack awareness of ESG’s importance or how to adopt it, resulting in a low prioritization of sustainability efforts. High initial costs for implementing sustainable technologies and systems, along with navigating complex regulations, can further hinder adoption. Additionally, collecting reliable ESG data and ensuring compliance across the supply chain can be challenging for businesses with limited infrastructure. Lastly, the short-term focus on immediate profits often takes precedence over long-term sustainability goals, making it harder for small businesses to fully embrace ESG principles. Despite these challenges, small-scale industries can still find ways to gradually adopt ESG practices, benefiting from long-term growth and resilience.