Sustainable development in the countries of the Asia-Pacific region (APR)

In the era of the Industrial Revolution, the intensification of production and intensive use of fossil resources led to a significant increase in emissions, causing an increase in the average temperature in the atmosphere. The development of the ESG agenda in the Asia-Pacific region (APR) is a reflection of the global trend of economic transformation and transition to sustainable development and responsible business conduct to prevent global climate change. The article analyzes the prerequisites and features of the development of the global ESG agenda, as well as the specifics of the implementation of ESG practices in the Asia-Pacific region. The reasons and prerequisites for the intensification of a sustainable economy in the Asia-Pacific region are considered, and the role of China as a pioneer in the implementation of ESG practices in the region is analyzed. The factors that influenced the activation of the implementation of the ESG agenda by Chinese companies and financial institutions are analyzed. Further, based on the historical analysis of the prerequisites for the development of ESG in China and the Asia-Pacific region, potential directions for further development of responsible business practices in the Asia-Pacific region were analyzed. The role of ESG in the region is substantiated, which will deepen understanding of the role of sustainable development in the modern business environment.