Global geopolitical conflicts and war conditions have become critical factors influencing financial markets, economic stability, and consumer behaviour. The ongoing tensions between Israel and Iran have intensified global uncertainty, leading to inflationary pressures, market volatility, and changes in financial decision-making. This study aims to examine the impact of such war conditions on consumer perception of Environmental, Social, and Governance (ESG) practices and its influence on financial behaviour in India. The research is based on primary data collected from 100 respondents using a structured questionnaire. A descriptive and analytical research design was adopted, and statistical tools such as mean analysis and hypothesis testing using a one-sample t-test were applied. The study evaluates the effect of geopolitical conflicts on financial uncertainty, investment preferences, spending behaviour, and the role of ESG perception during crisis situations. The findings reveal that war conditions significantly increase financial uncertainty, leading to risk-averse investment behaviour and reduced consumer spending. While ESG practices positively influence trust and perception, they play a moderate role in financial decision-making during periods of crisis, where financial security and risk minimization become primary concerns. The hypothesis testing confirms a significant relationship between geopolitical conflicts and financial behaviour with respect to ESG perception. The study contributes to the literature by integrating ESG, behavioural finance, and geopolitical risk in the context of common people. It highlights the importance of ESG practices in enhancing trust and resilience, while emphasizing the need for greater awareness and integration of sustainability factors in financial decision-making during uncertain global conditions.
Kakade et al. (Sun,) studied this question.