Integrating Green Management and Economic Development: The Role of Esg Strategies in Regional Sustainability

Abstract

Green management, incorporating Environmental, Social, and Governance (ESG) principles, addresses the growing need for sustainable economic development amidst environmental degradation and social inequalities. This study examines the integration of green management strategies to balance economic growth with environmental sustainability, focusing on regional implications. Through a qualitative approach, including interviews and case studies, the research explores how ESG principles impact business practices and community development. The findings reveal that while green management significantly reduces environmental harm, enhances economic competitiveness, and promotes community engagement, challenges such as financial constraints, low awareness, and weak regulatory frameworks persist. The study's novelty lies in its emphasis on localized ESG strategies tailored to regional socio-economic and environmental contexts, offering insights into how businesses and policymakers can adapt these principles effectively. Results highlight the importance of aligning corporate policies with regional sustainability goals to attract investment and foster equitable growth. Recommendations include providing financial incentives, enhancing capacity-building programs, and strengthening regulatory frameworks to ensure the widespread adoption of ESG practices. These findings underline the potential of green management as a transformative tool for driving sustainable and inclusive regional development.