Green and Sustainable Manufacturing with Implications of ESG In Energy Sector: A Comprehensive Review

¹ School of Management and Commerce, K.R. Mangalam University Gurugram - 122103, Haryana, India.
² School of Engineering and Technology, K.R. Mangalam University Gurugram - 122103, Haryana.
³ Division of Research & Innovation, Uttaranchal University, Dehradun, India
⁴ Department of Civil Engineering, GRIET, Bachupally, Hyderabad, Telangana
⁵ Lovely Professional University, Phagwara Punjab, 144001, India
⁶ KG Reddy College of Engineering & Technology, Moinabad, Hyderabad, Telangana

^* Corresponding author: Kshama.s@krmangalam.edu.in

Abstract

Environmental, social, and corporate governance, which is commonly shortened to ESG, is becoming an increasingly important part of the oil and gas industry as it faces a transition towards the usage of renewable energy sources. Today, businesses are increasingly looking for new ways to promote ESG initiatives, as a growing number of customers and investors are urging organisations to take ESG issues more seriously. Businesses are also looking for new ways to promote initiatives related to environmental, social, and governance (ESG) issues. This pattern can be explained by the fact that consumers are becoming more conscious of the significance of the problems being addressed. Even if the pressure on oil and gas companies is rising, the sector now has a lot of alternatives thanks to the increased emphasis on environmental, social, and governance concerns. This paper explores how ESG is redefining the sustainable energy sector as well as the reasons why it is necessary for businesses to address environmental challenges and adapt to this new paradigm. In addition, it explains how ESG is transforming the energy industry.