Incorporation of ESG principles in Education

Education is crucial for the progress of society. When we include ESG values in schools, we're making sure that future leaders and citizens are ready to tackle the challenges ahead. The 'E' in ESG emphasizes caring for the environment. Teaching students about climate change, preserving biodiversity, and managing resources sustainably helps them become responsible towards nature. ESG principles in education show the balance between human actions and the natural world, encouraging eco-friendly practices. ESG also pushes businesses to prioritize social responsibility, inclusivity, and diversity. Schools and universities have a key role in teaching these values by creating an inclusive environment that respects different perspectives. In addition, ESG promotes ethical governance, which is essential for a sustainable society, and these principles can be taught to future leaders through education.

How to incorporate ESG into educational curricula?

Introduce courses that focus on environmental issues, sustainability, and ecological conservation. Emphasize hands-on learning with projects and fieldwork. Encourage discussions on social justice, inclusivity, and community engagement. Motivate students to participate in community service and volunteer work. Include modules on ethics and governance across various disciplines, highlighting the importance of ethical decision-making and transparent leadership. Through educational programs, aim to cultivate a citizenry that is well-informed and actively involved in environmental and social justice issues. Education can equip citizens with the knowledge, attitudes, motivation, commitment, and skills to collaboratively and individually address current problems and prevent new ones. We believe in hands-on learning experiences to understand and engage responsibly with our society, and we are committed to providing such opportunities for children, students, teachers, researchers, and communities. This involves Teacher Training Workshops designed to signify the role of teachers and help them comprehend major environmental and social issues and develop teaching methods to address them. The workshops use lectures, participant presentations, field visits, and case studies. Similarly, Youth and Children's Workshops employ a workshop-based, multi-disciplinary learning approach, encouraging active engagement in environmental and social justice issues. Each program is designed to let students explore significant issues using an experiential approach. Our educational programs expose students to various issues and perspectives, encouraging critical thinking through interactive discussions, experiential exposures, hands-on activities, and games.

Educational institutions in Asia are making an impact through the implementation of ESG courses

AgileAsia Pte Ltd serves as a comprehensive destination for professional training needs, emerging as a top training provider in Singapore for both individuals and businesses. The company offers the Certified Sustainability (ESG) Practitioner program, accredited by the Center for Sustainability and Excellence (CSE). This program equips participants with up-to-date practical tools and resources to either implement or improve corporate sustainability initiatives. Successful completion of the program signifies the capability to drive sustainable growth, showcasing a clear purpose and meaningful impact. It establishes individuals as professionals equipped with the knowledge and abilities to navigate the complexities of sustainability, contributing to a more sustainable world.

IGMPI offers HACCP & FSMS training and is recognized as an Autonomous Body by the Ministry of Commerce & Industry, Government of India. The institute provides a Post Graduate Diploma in Environmental Social & Governance (ESG). The objective of the ESG program at IGMPI is to provide training for professionals that imparts valuable insights into skills, knowledge bases, and how an ESG qualification can enhance professional development for career improvement. As more people become conscious of the impacts of corporate behavior on the environment, communities, and society at large, ESG (environmental, social, and governance) has become a crucial focal point for both businesses and individuals.

Sunway University in Kuala Lumpur, Malaysia, signifies a significant step in our dedication to Environmental, Social, and Governance (ESG) research and capacity building initiatives. Initially established in April 2019 within the Sunway Business School under the leadership of Professor Susela Devi K. Suppiah, the Centre underwent strategic rebranding in June 2023 to reflect our evolving mission and focus areas. SC ESG's main goal is to translate cutting-edge academic research into practical solutions that not only benefit society and government but also promote sustainable practices, with a particular emphasis on Environmental, Social, and Governance factors. Additionally, SC ESG aims to encourage closer collaboration between industry and academia by providing a dynamic platform where industry partners can interact with our researchers and students.

CKGSB, the Cheung Kong Graduate School of Business in China, strives to promote social innovation and ESG practices to nurture responsible business leaders capable of addressing humanity's most pressing issues. Through fostering cooperation among businesses, governments, multilateral institutions, non-profit organizations, and civil society, the institution seeks to encourage philanthropy, charity, corporate social responsibility, and ESG initiatives. Additionally, CKGSB aims to support the developmental efforts of governmental, non-profit, and international organizations.

The Yonsei Institute for Higher Education Innovation in South Korea (IHEI) serves as Yonsei's focal point for instructing students in strategies related to social innovation. Within this context, social innovation is characterized as addressing societal problems through the creation of innovative ideas. IHEI provides a course titled 'Corporate Social Value and Social Innovation', designed to educate students on the principles, significance, and practical applications of ESG.

Dr. Netra Neelam, Director, SCMHRD highlighting about ESG education says, "To understand the implications of ESG-centric thinking in business, future leaders must be groomed in a strong business environment where ESG is thoroughly understood. In the last few decades, the overall progress in sustainability research has pushed the business to move beyond just keeping the consumer happy and look at the long-term business potential in ESG".

Efforts undertaken by governments and certain corporate entities in the realm of ESG

In Malaysia

The Malaysian government has implemented measures to tackle ESG issues, including aligning with and establishing the Sustainable Development Goals (SDGs). Malaysia's adherence to the United Nations SDGs is a crucial component of its ESG strategy. This involves integrating the SDGs into both local and national development plans to ensure that projects contribute to global sustainability objectives. The Malaysian Sustainable Finance Initiative (MSFI) is dedicated to promoting sustainable finance practices and encouraging investments in projects focused on sustainable development. Apart from regulatory efforts, Malaysian businesses are actively working to enhance their ESG performance. Several major companies in Malaysia, such as CIMB Group, a financial services company, and YTL Corporation, a diversified conglomerate, have taken significant steps to incorporate ESG practices into their operations.

In Middle East

The UAE has proactively promoted sustainability by implementing initiatives that encourage companies to invest in this area. One significant measure involves mandating listed companies to disclose information on Environmental, Social, and Governance (ESG) matters. ESG developments in the Arab region, particularly in the United Arab Emirates (UAE), have been shaped by various factors. These factors include the necessity to diversify energy sources, global calls for action amidst the climate emergency, and the region's focus on sustainable financial practices and investments. Across the Middle East and North Africa (MENA) region, countries are taking proactive measures to contribute to the advancement of ESG principles. This period represents a pivotal moment, as solar electricity and wind power have become economically competitive with fossil fuels in certain regions. Several nations, such as Qatar and Bahrain, have introduced ESG guidelines, and Egypt issued its inaugural green sovereign bond.

In China

In recent years, China has rapidly introduced specific policies related to Environmental, Social, and Governance (ESG) considerations. These policies target business entities, financial institutions, and financial instruments and can be categorized into three main groups. The first category provides 'high-level guidance,' helping these entities understand the ESG concept. The second category establishes an 'incentive mechanism' by offering preferential policies to businesses and financial institutions incorporating ESG principles in their financing activities. The third category, labeled information disclosure, focuses on enhancing the transparency of ESG-related practices through improved disclosure mechanisms. Top companies in China, such as Xinyi Solar Holdings Limited, China Gezhouba Group Company Limited, and Baozun Inc., have emerged as leaders in adhering to ESG principles. ESG, serving as a valuation technique, considers environmental, social, and governance factors. In the private sector, ESG acts as a set of criteria used to assess a company's risks and practices, motivating these companies to integrate ESG principles into their operations.

Conclusion

ESG holds significant importance across various sectors, including education, corporate entities, and other industries. Numerous initiatives have been implemented, and there is a need for more in the future to safeguard the environment and instill ethical values in individuals. Governments should play a crucial role by taking impactful steps in this sector, ensuring not only the nation's economic growth but also overall sustainable development. It is imperative to consider the planet's well-being while striving for a better future and the progress of the nation. Universities and colleges are expected to introduce novel ESG courses to educate both students and corporate employees.