How can government regulations encourage businesses to prioritize sustainability and social responsibility while still fostering economic growth?

Government regulations can encourage businesses to prioritize sustainability and social responsibility by implementing policies that reward environmentally-friendly practices, such as tax incentives or subsidies for green initiatives. Additionally, regulations can set clear standards and requirements for businesses to meet in terms of sustainability and social responsibility, ensuring that they prioritize these factors in their operations. By creating a level playing field where all businesses are held to the same standards, regulations can foster competition and innovation in sustainable practices while still allowing for economic growth. Ultimately, government regulations can provide the necessary framework and incentives for businesses to balance profitability with social and environmental impact.