Best ESG Practices: Developed and Emerging Markets

This chapter presents a comparative analysis of the top ESG practices across the developed and emerging markets through a mini-case study approach. It explores how global corporations and emerging players integrate Environmental, Social, and Governance (ESG) considerations into their core business strategies, thereby highlighting key differences that were shaped by regulatory maturity, institutional capacity, and socio-economic priorities. The chapter begins by identifying the core drivers influencing ESG adoption including climate risks, investor expectations, regulatory developments, and stakeholder activism. It then examines the integration of ESG practices, starting from materiality assessments and SDG alignments to stakeholder engagement and sustainability reporting. Using a cross-sectoral lens, the chapter evaluates ESG performance of firms across the environmental, social, and governance dimensions. The findings were supported by benchmarking and industry-specific metrics. By analysing firms’ strategic responses to ESG imperatives, the chapter offers practical insights into effective frameworks and operationalisation strategies that could deliver long-term values. The chapter concludes by using four mini-case studies-Novartis (Switzerland), HSBC (UK), Tata Power (India), and the Yili Group (China), to illustrate ESG integration in healthcare, finance, energy, and agri-food sectors. Each case provides an overview of the company’s ESG priorities, its implementation efforts, the key challenges, and other forward-looking commitments. Together, these cases underscore the importance of context-sensitive ESG strategies in driving sustainable outcomes across diverse market settings.