Democracy and sustainability. ESG considerations and Ukrainian war: rules without governance and accountability?

“Sustainability and democracy are closely intertwined (..) Sustainability requires democratic processes that are both sustainable and adaptable” (
From this perspective the paper analyses the case of the integration of the ESG considerations into investments, a step-by-step process which has led to deeper collaboration between diverse players: international, regional and national, formal and informal.
How far has this approach gone? If can “rules” be identified, what about the governance?
The ESG considerations makes the decision-making process more complex but fosters the improvement of investment institutions’ internal procedures. How are these actors accountable for their choices? What happens in case of disputes?
These are not theoretical issues. Sadly, the war in Ukraine urges actions from different perspectives and the ESG could be one of these. Therefore, the ultimate aim of the paper is to address the ESG framework against the current crisis.