ICMEM SBM ITB 2025: Prof. Shaker Zahra Champions ESG & Sustainable Innovation in Emerging Markets

What is ICMEM?

The International Conference on Management in Emerging Markets (ICMEM), hosted by the School of Business & Management at Institut Teknologi Bandung, Indonesia, serves as a premier platform for scholars, practitioners, and students to engage with international academics and policymakers.

9th ICMEM Highlights

At the 9th International Conference on Management in Emerging Markets (ICMEM) held by SBM ITB in Bandung on August 20–21, 2025, Prof. Shaker Zahra of the University of Minnesota delivered a powerful message: emerging markets are not laggards—they’re shaping the future of sustainable innovation.

In his keynote, “Beyond Growth: Innovating for a Sustainable Future in Emerging Markets,” he urged a shift away from GDP-centric growth, calling for a new model grounded in inclusion, resilience, and fairness. "Innovation isn’t just about technology; it’s about social inclusion and solving local challenges," he emphasized.

He went on to underscore ESG as a strategic imperative: “For emerging markets, ESG is strategic, not optional.” ESG frameworks, he argued, help reduce risk, build long-term value, and attract consumers who prioritize environmental and social integrity.

Prof. Zahra also promoted the circular economy model—dismantling the "take-make-dispose" approach through the 5Rs: refuse, reform, reduce, reuse, recycle. He urged leaders and institutions to invest in the three Ps: People (green and digital education), Planet (SMEs with sustainable models), and Productivity (inclusive urban planning).

He pointed to emerging-market pioneers: Indonesia’s green smart city plans, India’s National Solar Mission, and Rwanda’s inclusive health-tech innovations. Closing with a call for collaborative action, he said, “Sustainable growth demands collective action rooted in trust, transparency, and shared vision”.

Insightful Research & Context

Related to Prof. Zahra's keynote at the 9th ICMEM 2025, Boston Consulting Group (BCG) findings (2023 report by BCG) reveal strong correlations between ESG scores and financial metrics in emerging-market firms. Companies committed to ESG enjoy better customer loyalty, market access, investor appeal, and talent acquisition (Boston Consulting Group, 2023).

Conclusion

Prof. Shaker Zahra’s keynote at the 9th ICMEM 2025 reinforces a critical message: emerging markets are no longer passive participants but active leaders in shaping sustainable innovation. 

By embracing ESG as a strategic pillar, adopting circular economy models, and investing in people, planet, and productivity, these markets can build resilience while creating inclusive growth. 

Supported by research such as BCG’s findings that ESG drives both financial and social value, it is clear that sustainability is not just a moral imperative—it is a competitive advantage.

This article is based on coverage from ICMEM SBM ITB 2025: Prof. Shaker Zahra Dorong ESG dan Inovasi Berkelanjutan di Pasar Berkembang | Inilahkoran.id

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