When Abraham Maslow introduced his “Theory of Human Motivation”, back in 1943, he implicitly combined both Environmental and Social aspects at the base of his “Hierarchy of Needs” pyramid. To him, physiological needs included homeostasis and appetites which are “a fairly efficient indication of actual needs or lacks in the body”. In simple words; to maintain a normal state of blood stream in a human body, proper breathing, food, water, shelter and warmth were necessities for survival of mankind. Despite this equilibrium between environmental and social necessities, several articles highlighted the fact of the missing “S”, while the “E” factor has been leading the priority of the Responsible Investment market. Climate change and related environment topics topped most of the news headlines and conferences’ agendas. COVID-19 came as a blessing in disguise to adjust the scale and re-shuffle the priorities of the market, giving more attention towards the “Social” aspects and loading the “Governance” with heavier burdens. In this articles’ series, IdealRatings, Inc. will be highlighting the effect COVID-19 has placed on the ESG market through separate articles per pillar.
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