Innovation In The Application Of ESG Principles In Business Law For The Sustainability Of The Fishing Industry In Bangka Belitung

Abstract

Although Bangka Belitung's fisheries industry has enormous potential to boost the local economy, there are still a number of issues that prevent it from adopting environmental, social, and governance (ESG) principles. The purpose of this research is to see how ESG is applied in business law in Bangka Belitung's fisheries sector and find innovative strategies to overcome the existing challenges. Regulatory analysis, interviews with stakeholders, and case studies of fisheries companies implementing ESG were used as the research methodology. The results show that ESG implementation in the fisheries industry is still limited due to the lack of strict regulations, low awareness of business actors, and limited access to sustainable technology. Strategies that can be implemented include strengthening legal policies, incentives for companies that implement ESG, and increased education for fishermen and companies regarding the importance of ESG. With a more optimal implementation of ESG, the fishing industry in Bangka Belitung can develop sustainably without compromising the environment and the welfare of coastal communities.