SUSTAINABLE CRISIS RESPONSE: THE COMPARATIVE ANALYSIS OF ESG POLICY RESPONSES, MATURITY, AND IMPLEMENTATION CHALLENGES IN INDONESIA AND UZBEKISTAN

Abstract

As global crises have accelerated, adaptive governance and economic models have become increasingly important, particularly in emerging economies. ESG (environmental, social, and governance) frameworks have gained traction as a means of achieving sustainable recovery and long-term resilience. The purpose of this paper is to compare the evolution of ESG in Indonesia and Uzbekistan from the perspectives of corporate adoption, regulatory advancement, crisis management, and identifying the main systemic problems. Using a thorough literature review, policy analysis, and case study techniques, the paper describes divergent trajectories. Indonesia exhibits broader sectoral ESG incorporation, but with implementation gaps and greenwashing risks, whereas Uzbekistan exhibits targeted green finance activity but patchy overall ESG adoption. The study reveals conclusions from recent ESG implementations, disproves the weak instances of success, and identifies chances for systemic integration. The study identifies opportunities for systemic integration, disproves the weak success stories, and reveals the results of recent ESG implementations. To encourage emerging markets to move from symbolic compliance to true sustainability, policy recommendations are made to promote real ESG maturity. In light of global volatility, this study advances our understanding of how ESG has evolved as a crucial force behind sustainable development.