Abstract
Progress on Environmental, Social and Governance (ESG) issues is vastly different depending where in the world you look. However, the literature on what drives ESG performance is highly fragmented and current theories fail to offer useful insights into the disparity in ESG performance. Hence, this study draws upon an accumulated body of knowledge of ESG-related literature and explores the major drivers of ESG performance. By applying a scientific and replicable methodology of systematic literature review, this article reveals the fundamental debate underpinning ESG responsibility, the breath of pertinent stakeholders, the theories necessary to understand ESG management and the conditions which will best achieve ESG progress. The major themes help inform the most effective choice of mechanisms to improve ESG outcomes. However, there are also significant themes not yet fully developed in the literature. Future research is urgently needed on the impact of economic development, regulatory environment and responsible investing on ESG outcomes. These research trajectories hold important implications for investment management, corporate strategy and government policies affecting global ESG performance.
| Original language | English |
|---|---|
| Article number | 2322 |
| Pages (from-to) | 1-21 |
| Number of pages | 21 |
| Journal | Sustainability |
| Volume | 14 |
| Issue number | 4 |
| DOIs | |
| Publication status | Published - 18 Feb 2022 |
Bibliographical note
Copyright © 2022 by the authors. Licensee MDPI, Basel, Switzerland. Version archived for private and non-commercial use with the permission of the author/s and according to publisher conditions. For further rights please contact the publisher.Keywords
- systematic literature review
- responsible investment
- environmental
- social and governance