The Impact of ESG on Local Socio-Economic Development: Based on the Practical Experience of Hai Phong City

Abstract

This study analyzes the impact of environment, society, and governance on the socio-economic development of a locality through the case of Hai Phong city. Building upon stakeholder theory, sustainable development theory, and previous empirical studies, this paper constructs a research model with three independent variables: environment, society, and governance, and one dependent variable: the socio-economic development of the locality. The research results show that all scales achieve good reliability and measurability. The regression model is statistically significant, with all three factors-environment, society, and governance-having a positive impact on the socio-economic development of the locality. The results also indicate that governance is the factor with the strongest impact, followed by society, and finally the environment. Based on this, the article emphasizes the need to improve the quality of local governance, promote inclusive social policies, and strengthen the integration of environmental goals into Hai Phong's development strategy to achieve more sustainable, efficient, and resilient growth.