Public Policies

This chapter focuses on the role of public policies in guiding the environmental, social and governance (ESG) practice in a society. It introduces the fundamental functions and responsibilities associated with governments, especially the influence of economic public policies. Through a critical discussion on the benefits and challenges of interactions between the government and the private sector, this chapter depicts how private businesses on one hand can boost competition and innovations, increase cost efficiency and consumer benefits, while on the other hand, they can also cause conflicts of interest by exerting influence on the political landscape and decision-making process within a society, so that governance mechanisms are necessary to increase transparency. The chapter also introduces the role and importance of non-governmental organizations (NGOs) and social enterprises.