ESG: Research Progress and Future Prospects

Abstract

The sustainable development of the global economy and society calls for the practice of the environmental, social and governance (ESG) principle. The ESG principle has been developed for 17 years following its formal proposal in 2004. Countries around the world continue to promote the coordinated development of the environment, society, and governance in accordance with the ESG principle. In order to review and summarize ESG research, this study takes the literature related to ESG research as the research object and presents the cooperation status, hot spots, and trends of ESG research with the help of the literature analysis tool CiteSpace. On the basis of quantitative analysis results, this study presents an examination and comprehensive summary of progress in the research into ESG combined with a systematic literature review. This includes the theoretical basis of ESG research, the interaction between the dimensions of ESG, the impact of ESG on the economic consequences, the risk prevention role of ESG, and ESG measurement. Based on the systematic summary of research progress, this paper further refines the characteristics of ESG research, reveals the shortcomings of ESG research, and propose a focus for ESG research in the future in order to provide a reference for academic research and the practice of ESG.

Entropia da informação e ranking das empresas do IBOVESPA

“…A título de exemplo, em uma perspectiva de teoria da legitimidade, o resultado tanto do desempenho quanto da divulgação de dados ESG possibilitam a redução do custo de dívida junto a instituições de crédito (Eliwa et al, 2021). Sob essa perspectiva, o alto desempenho, em aspectos como divulgação ambiental, também contribui positivamente com a reputação da empresa perante os stakeholders, indicando relações indiretas entre ESG e o desempenho econômico (Li et al, 2021). Em adição, empresas mais preocupadas com aspectos socioambientais tendem a apresentar mais qualidade das informações contábeis, possuindo menor probabilidade de republicar demonstrativos (Freire & Albuquerque Filho, 2022).…”

“…A integração das práticas ESG na gestão empresarial e nas tomadas de decisões de investimento tornou-se um passaporte internacional para as empresas praticarem o desenvolvimento sustentável (Li, Wang, Sueyoshi, & Wang, 2021). Nesse contexto, Miralles-Quirós, Miralles-Quirós e Valente-Gonçalves (2018) indicaram que o mercado acionário brasileiro valorizou positivamente as empresas com maior performance ESG, o que revela a implementação de políticas de responsabilidade social corporativa que levem ao maior desempenho em sustentabilidade como uma vantagem estratégica para geração de valor.…”

Analysis of Domestic and International Green Infrastructure Research Trends from the ESG Perspective in South Korea

“…ESG is an investment philosophy that pursues long-term value growth as the value of sustainable and harmonious development, considering the benefits of economic, environmental, social, and governance emphases [ 6 ].…”

“…As the concept of ESG becomes increasingly mainstream, ESG is widely considered, practiced, and popularized in the field of practical uses [ 6 ], and the areas involved in ESG are increasingly becoming more important.…”

“…Following the COVID-19 pandemic, sustainable and inclusive development has once again become a hot topic of discussion worldwide, and in response to increasingly serious sustainable development issues in environmental, social, and financial markets, international organizations and countries around the world have proposed sustainable and comprehensive development frameworks for human society [ 6 ].…”