ESG puts a lot of strain on the economy

ESG (Environmental, Social, Governance) is synonymous with sustainable, social and fair corporate governance. The concept is based on the recognition that it’s not only important for companies to be economically successful but also to protect the environment, assume social responsibility and make company decisions transparently comprehensible. In practice, however, ESG is simultaneously becoming the epitome of sprawling bureaucracy.

While global ESG orientation was previously only mandatory for international corporations, it’s now also highly important for medium-sized companies because their supply and distribution chains usually also have global reach. This cripples the economic and innovative power of SMEs.