QuestionJuly 18, 2025

How can businesses benefit from adopting ESG practices? They can maximize short-term profits. They can reduce regulatory compliance costs. They can enhance their reputation and attract more stakeholders.

How can businesses benefit from adopting ESG practices? They can maximize short-term profits. They can reduce regulatory compliance costs. They can enhance their reputation and attract more stakeholders.
How can businesses benefit from adopting ESG practices?
They can maximize short-term profits.
They can reduce regulatory compliance costs.
They can enhance their reputation and attract more
stakeholders.

Solution
4.2(271 votes)

Answer

Businesses can benefit from adopting ESG practices by reducing regulatory compliance costs and enhancing their reputation to attract more stakeholders. Explanation 1. Identify ESG Benefits ESG practices focus on environmental, social, and governance factors. They can enhance reputation and attract stakeholders by demonstrating responsibility and sustainability. 2. Regulatory Compliance Cost Reduction Implementing ESG practices can lead to reduced regulatory compliance costs as businesses proactively address potential legal and environmental issues. 3. Short-term Profit Maximization While ESG practices may not directly maximize short-term profits, they can lead to long-term financial benefits through improved efficiency and stakeholder trust.

Explanation

1. Identify ESG Benefits<br /> ESG practices focus on environmental, social, and governance factors. They can enhance reputation and attract stakeholders by demonstrating responsibility and sustainability.<br /><br />2. Regulatory Compliance Cost Reduction<br /> Implementing ESG practices can lead to reduced regulatory compliance costs as businesses proactively address potential legal and environmental issues.<br /><br />3. Short-term Profit Maximization<br /> While ESG practices may not directly maximize short-term profits, they can lead to long-term financial benefits through improved efficiency and stakeholder trust.
Click to rate:

Similar Questions