The Impact of ESG Practices in Industry with a Focus on Carbon Emissions: Insights and Future Perspectives

Abstract

In recent years, interest in economic, environmental and social sustainability has increased significantly. Companies are gradually adopting behaviors aimed at achieving the Sustainable Development Goals, which represent a crucial aspect of the 2030 Agenda. In practice, they are currently incorporating organizational strategies that jointly consider environmental, social and corporate governance (ESG), with the aim of generating value for all stakeholders. This paper aims to review, through a recognized seven-step procedure, the current literature on the impact that ESG practices have in industry, with a focus on the reduction of carbon emissions. The results are extremely useful for both researchers and entrepreneurs. The bibliometric analysis shows that interest in the ESG paradigm has grown considerably in the last three years. Furthermore, through the analysis of 13 key documents, it emerges that (i) the European community is pushing significantly towards the adoption of ESG practices through new regulations, (ii) the link between industrial operations and carbon emissions can no longer be neglected within the factory of the future, and (iii) significant efforts are still needed to standardize, in terms of variables and KPIs, the adoption of ESG-centric strategies.