Sustainable Development: Changing Winds & Way forward

Abstract

This article explores the current investment in sustainable development in general and on the environmental part of Environmental, Social, and Governance (ESG) in particular, along with the opportunities and challenges from COVID-19. Since the start of the first industrial revolution, humankind has seen tremendous growth in its standard of living. The last few centuries have given us various energy sources, coal, electricity, oil & gas, steam and nuclear. The concept of assembly lines and digitization of the same has catapulted the levels of production exponentially. As compared to the start of the third industrial revolution (around 1970-1975), the world GDP levels have almost quadrupled today (at 2010 prices). Advancements in communication & transportation have made the world smaller and today we have processes in place that can convert inputs into outputs with minimal or no human intervention. This growth and advancement have come with a tremendous strain on our natural resources and climate. The Environmental malpractices of corporates make headlines even today. But there are changes, happening for the better.