Proceedings of the 10th International Conference on Business, Management and Economics
Year: 2024
DOI:
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New Business Models Linked To Applied ESG Concepts
Blazek Lukas. Ph.D.
ABSTRACT:
Currently, more and more companies are focusing on integrating environmental, social and governance (ESG) principles into their business models. This trend is not only a response to increasing regulations and expectations from investors and customers, but also an effort to achieve long-term sustainability and competitive advantage. ESG concepts include a wide range of activities, from reducing greenhouse gas emissions and efficient use of resources, through ensuring fair working conditions and promoting diversity, to transparent management and ethical business. The implementation of these principles often requires innovative approaches and the adaptation of traditional business models. For example, new business models that focus on ESG may include a circular economy where waste is minimized and recycling maximized, or a focus on renewable energy and carbon footprint reduction. Companies also invest more in social programs such as developing local communities and improving working conditions, which contributes to their positive perception in society and strengthens their brand. The presented article on the topic “New business models in connection with applied ESG concepts” focuses on how new business models that integrate ESG concepts can contribute to business sustainability and long-term economic growth. We will explore the different approaches and strategies that companies use to achieving ESG goals, and how these strategies affect their performance and reputation in the market.ESG (Environmental, Social, and Governance) represents a set of criteria that companies use to evaluate their sustainability and ethical impacts.ESG principles not only help companies meet legal requirements and expectations investors, but they also bring a number of benefits, such as increased customer loyalty, better reputation and greater attractiveness for talented workers.Companies that successfully implement ESG strategies are better prepared for future challenges and can become leaders in their industry.
keywords: sustainability, ESG principles, business model, circular economy