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How Covid-19 Has Accelerated the Garment and Financial Investment Industries’ Adoption of Environmental, Social and Corporate Governance (ESG) Standards

In: The Future of Companies in the Face of a New Reality

Author

Listed:
  • Pablo López Sarabia

    (Tecnológico de Monterrey, Campus Santa Fe)

  • Silvia Rojas Padilla

    (Instituto Cervantes)

  • Ricardo González Díaz

    (Tecnológico de Monterrey, Campus Santa Fe)

Abstract

The transition of the apparel industry to an ESG business model will have a cascading effect in the whole supply chain (upstream, midstream and downstream) and will generate greater value for all stakeholders. The ESG investments are registering exponential growth in equity and fixed income markets due to the following benefits: 1) lower risk and long-term stability, 2) the returns of portfolios and indices with ESG criteria are not inferior to traditional investment, 3) the positive externalities associated to ESG criteria and 4) the reputation and gain of market share by responding to the demands of a new generation of consumers willing to pay a surcharge for sustainable goods and services that consider ESG criteria. Currently there are expectations that once the Covid-19 crisis is over there will be a grand quantity of capital inflows toward ESG investments on emerging markets, a situation that will drive the transformation of companies; particularly those that have made progress in incorporating ESG factors like the utilities and financial sector.

Suggested Citation

  • Pablo López Sarabia & Silvia Rojas Padilla & Ricardo González Díaz, 2021. "How Covid-19 Has Accelerated the Garment and Financial Investment Industries’ Adoption of Environmental, Social and Corporate Governance (ESG) Standards," Springer Books, in: Griselda Dávila-Aragón & Salvador Rivas-Aceves (ed.), The Future of Companies in the Face of a New Reality, pages 37-62, Springer.
    • Handle: RePEc:spr:sprchp:978-981-16-2613-5_3
    DOI: 10.1007/978-981-16-2613-5_3
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    More about this item

    Keywords

    Apparel industry; ESG investment; COVID-19 pandemic; ESG metrics;
    All these keywords.

    JEL classification:

    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • L20 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - General
    • L67 - Industrial Organization - - Industry Studies: Manufacturing - - - Other Consumer Nondurables: Clothing, Textiles, Shoes, and Leather Goods; Household Goods; Sports Equipment
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • Q50 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - General

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