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COVID-19 underscored the critical nature of environmental, social, and governance ("ESG") activities in businesses worldwide. However, also prior to the pandemic's outbreak, there was discussion of transition. The Business Roundtable (an organization comprising 181 CEOs of America's largest corporations) said last year that businesses would "respect the communities in which they operate", reversing Friedman's long-held emphasis on shareholder wealth maximization. The year 2020 marks a paradigm shift. This year, Prince Holding Group ("PHG"), one of Cambodia's largest conglomerates, recognized this and set an example for other businesses in the Kingdom interested in adhering to ESG principles. Since April, the Group has made several major donations to aid in the fight against the pandemic and flood victims, with PHG Chairman Neak Oknha Chen Zhi Of Cambodia spearheading the efforts. For instance, in early December, Chen Zhi and PHG donated US