Sustainable Entrepreneurship: A Cross-Country Comparison

Globally, the focus on ESG (environment, social, and governance) related issues has increased significantly in recent years. According to recent research by McKinsey & Company, more than 90% of S&P 500 companies now publish ESG reports, while inflows into sustainable funds rose 14-fold in 2021 to reach USD 70 billion, compared to just USD 5 billion 3 years earlier (Perez et al. 2022). Asia is no exception, with a growing number of Asian countries committed to setting emission-reduction targets and companies racing to capture a USD 5 trillion opportunity in green business building (Balasubramanian et al. 2022).