Sustainability and ESG
"Sustainability" is still predominantly associated with environmental protection or environmental compatibility, i.e. with ecological aspects.However, sustainability does not only concern ecology, but also the social economy and the economy. The interaction of these three dimensions is ultimately decisive for sustainable action. The three areas are not isolated from each other, but require a holistic view and, in particular, equal consideration. For example, economic interests must not be pursued at the expense of the environment and society. Equally, however, ecological goals should not lead to social and economic risks.It is precisely this comprehensive and reciprocal approach that is behind the abbreviation ESG, which stands for environmental, social and governance.Although ESG originated in the financial world in order to channel cash flows into sustainable economic activities through EU regulations, it now also affects all upstream and downstream processes. In the short and long term, almost all companies in all sectors and industries are therefore called upon to deal with ESG (the three pillars of sustainability) and to develop a corresponding behavioral and action strategy.