Advancing Green Governance in Developing Economies: A Multi-Level Framework for Overcoming ESG Implementation Barriers

Purpose: This research addresses the challenge of implementing Environmental, Social, and Governance (ESG) principles in developing economies. It identifies unique, interconnected barriers, arguing for a tailored approach over adopting Western models. The study's primary purpose is to propose a comprehensive, multi-level framework that highlights the interplay between external and internal factors to guide effective ESG integration. Methods: This study utilizes a qualitative literature synthesis to develop a multi-level analytical framework (macro, meso, micro) for categorizing ESG implementation barriers and drivers. The analysis is descriptive and conceptual, culminating in a strategic roadmap for action. The framework’s practical application is illustrated through selected qualitative case studies of China, Japan, and a composite Indian manufacturing firm. Results: The study identifies significant interconnected barriers, including weak macro-level regulatory frameworks and a lack of green infrastructure. Meso-level challenges are dominated by short-term market pressures, while micro-level barriers include internal resistance to change and the critical risk of "green cannibalization." The findings show that success depends on creating a "virtuous cycle" of coordinated solutions, such as mandatory reporting, proactive governance reforms, and market-driven demand for sustainability. Conclusion: A fragmented approach to ESG implementation is ineffective; a systemic, integrated framework is essential for sustainable transformation in developing economies. The paper provides practical recommendations for policymakers and corporate leaders to overcome key challenges. Future research should focus on quantitative studies of green cannibalization and the role of emerging technologies in facilitating ESG adoption and reporting.

کلیدواژه ها:

ESG Implementation ، Developing Countries ، Green Governance ، Sustainable Development ، Strategic Management ، Green Cannibalization