The relationship between ESG and CSR – achieving synergy through the golden triangle framework

What is it about?

ESG and CSR have emerged in recent times as powerful approaches for corporations to add value to social well-being. Academic research has focussed till now on viewing these approaches as either the same ‘ESG/CSR’ or as two separate approaches ‘ESG and CSR’. The current paper attempts to describe the synergistic relationship between them as ‘ESG-CSR’ using a golden triangle framework. Apart from describing the framework, the paper develops the synergistic relationships in the framework and statistically analyses them using data from public sector undertakings in India. The paper highlights that the time is ripe to use the synergistic ESG-CSR framework as a tool for corporates to play their true transformative role for global welfare.

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