EMI D-ESG Framework Series

The EMI D-ESG Country Ranking Framework is an innovative system designed to evaluate emerging economies by integrating Economic Growth, Environmental, Social, and Governance (ESG) factors. Its key objectives are:

Establishing a comprehensive rating system for emerging economies based on economic growth and ESG variables.
Measuring a country’s progress while benchmarking it against its peer group.
Creating a user-friendly and transparent framework.

Developed by Cornell’s Emerging Markets Institute at the Cornell SC Johnson College of Business, this framework represents an evolution of the widely recognized ESG model by incorporating an additional crucial dimension—“D.” The Emerging Markets Economic Growth and ESG (EMI D-ESG) Framework aims to help emerging markets achieve sustainable development by balancing economic growth with ESG principles.

Published Papers and Chapters

Lourdes Casanova, Anne Miroux, Shailja Bang, Oritsemolebi Molagbemi Eyesa

Abstract

Building on the discussion in ‘In Search of an ESG Framework for Emerging Markets,’ this paper delves into the unique social challenges faced by Emerging Market Economies. It emphasizes the importance of considering social development when evaluating and comparing the performance of these economies, highlighting key initiatives in India, Indonesia, and Nigeria.

Keywords: D-ESG, Social Development, Emerging Markets, India, Indonesia, Nigeria, EMI, Cornell Research, Cornell SC Johnson

Link to access the article In Search of an ESG Framework for Emerging Markets. What about Social Challenges? The Case of Nigeria, India and Indonesia

Lourdes Casanova, Anne Miroux, Shailja Bang

Abstract

As the climate crisis and societal issues like inequality intensify, questions are being raised about the need to focus more on environmental and social concerns as opposed to a single-minded obsession with growth. However, this perspective is hard to accept for many emerging markets where growth matters. But neglecting the environmental and societal concerns is not an option either. There is indeed a need to find an alternative metrics for measuring progress in the Emerging Countries.

The answer of Cornell’s Emerging Markets Institute at the Cornell SC Johnson College of Business is to add a “D” to the very important Environmental, Social and Governance (ESG) acronym. For the past two years, EMI team has been dedicated to developing a unique framework known as the Emerging Markets Economic Growth and ESG (EMI D-ESG) Framework which aims to measure sustainable development in emerging markets by providing guidelines on balancing Economic Growth and ESG (Environmental, Social, and Governance) factors.This working paper discusses the EMI D-ESG Framework explaining the approach and how it is designed for the Emerging Markets.

Link to access the article In Search of an ESG Framework for Emerging Markets. What about growth?

Lourdes Casanova, Anne Miroux, Shailja Bang

Abstract

This paper focuses on the importance of an environmental focus for emerging markets, particularly in the context of Latin America. This paper aims to underscore the imperative of environmental factors when assessing and comparing the performance of these economies. It includes an analysis of greenhouse gas emissions, renewable energy adoption, biodiversity protection, and air quality. Additionally, the paper provides valuable insights for investors, policymakers, and other stakeholders interested in the region’s sustainable development. It highlights successful initiatives in Brazil, Mexico, Colombia and Chile and the importance of active branding to enhance the region’s environmental reputation.

Keywords: Environment, Green Transition, Emerging Markets, Energy mix, Latin America, Brazil, D-ESG ranking

Link to access the article In search of a D-ESG Framework for Emerging Markets. What about Environment?

EMI D-ESG Framework Series

Published Papers and Chapters

In Search of an ESG Framework for Emerging Markets. What about Social Challenges? The Case of Nigeria, India and Indonesia

Abstract

In Search of an ESG Framework for Emerging Markets. What about growth?

Abstract

In Search of a D-ESG Framework for Emerging Markets. What about Environment?

Abstract

Economic Growth Is the Missing Piece in the ESG Debate

For Emerging Markets, ESG Will Not Work Without Economic Growth

For Emerging Markets, ESG Will Not Work Without Economic Growth

Latin America: From Resource Curse to a Green Power

Chapters in Annual Report 2024

Chapters in Annual Report 2022