ABSTRACT
The recent Tunisian revolution in 2010 marked the beginning of a new historic era for Tunisia. It has not only shed doubts on the previous regime’s development model, but has also increased the attention on the environmental, social and governance (ESG) challenges. The state-centred development model implemented in Tunisia since its independence was characterized by extensive state intervention in the economy and led to substantial challenges that were at the root of the revolution (IMF, 2012). For example, economic gains were not fairly shared among the population: economic and social disparities were high across regions and unemployment was high (13 per cent in 2010), especially among youth (30 per cent in 2010). Weak governance and favouritism also fuelled a sense of denied opportunities and depressed economic potential.
