Have a personal or library account? Click to login
ESG Disclosure and Sustainability Transition: A New Metric and Emerging Trends in Responsible Investments Cover

ESG Disclosure and Sustainability Transition: A New Metric and Emerging Trends in Responsible Investments

Open Access
|May 2023

References

  1. Ahsan, T. & Qureshi, M. A. (2021), ‘The nexus between policy uncertainty, sustainability disclosure and firm performance,’ Applied Economics, vol. 53, no. 4, pp. 441–453. https://doi.org/10.1080/00036846.2020.1808178
  2. Ainger, J. & Arons, S. (2022), ‘Weapons group points to Ukraine in bid to shape ESG rulebook,’ Bloomberg, 28 February. Retrieved from https://www.bloomberg.com/news/articles/2022-02-28/weapons-group-points-to-ukraine-in-bid-to-shape-eu-s-esg-rules [accessed Feb 2023]">
  3. Al Hawaj, A. Y. & Buallay. A. M. (2022), ‘A worldwide sectorial analysis of sustainability reporting and its impact on firm performance,’ Journal of Sustainable Finance & Investment, vol. 12, no. 1, pp. 62–86. https://doi.org/10.1080/20430795.2021.1903792
  4. Alsayegh, M. F.; Abdul Rahman, R. & Homayoun, S. (2020), ‘Corporate economic, environmental, and social sustainability performance transformation through ESG disclosure,’ Sustainability, vol. 12, no. 9, art. 3910. https://doi.org/10.3390/su12093910
  5. Amin, N. & Tauseef, S. (2022), ‘Does an optimal ESG score exist? Evidence from China,’ Macroeconomics and Finance in Emerging Market Economies. https://doi.org/10.1080/17520843.2022.2034280
  6. Aramonte, S. & Zabai, A. (2021), ‘Sustainable finance: Trends, valuations and exposures,’ BIS Quarterly Review, 20 September, pp. 3–5.
  7. Dai, Y. (2021), ‘Can ESG investing beat the market and improve portfolio diversification? Evidence from China,’ The Chinese Economy, vol. 54, no. 4, pp. 272–286. https://doi.org/10.1080/10971475.2020.1857063
  8. Dorn, M. (2022), ‘The (Re)Balancing Act of the S&P 500 ESG Index,’ Indexology Blog, 17 May. Retrieved from https://www.indexologyblog.com/2022/05/17/the-rebalancing-act-of-the-sp-500-esg-index/ [accessed Feb 2023]
  9. Driessen, M. (2021), ‘Sustainable finance: An overview of ESG in the financial markets,’ in D. Busch, G. Ferrarini & S. Grünewald (eds.) Sustainable Finance in Europe. EBI Studies in Banking and Capital Markets Law, Cham: Palgrave Macmillan, pp. 329–350. https://doi.org/10.1007/978-3-030-71834-3_10
  10. Eccles, R. G. & Stroehle, J. (2018), ‘Exploring social origins in the construction of ESG measures,’ Working Paper, SSRN. https://doi.org/10.2139/ssrn.3212685
  11. Eng, L. L.; Fikru, M. & Vichitsarawong, T. (2022), ‘Comparing the informativeness of sustainability disclosures versus ESG disclosure ratings,’ Sustainability Accounting, Management and Policy Journal, vol. 13, no. 2, pp. 494–418. https://doi.org/10.1108/SAMPJ-03-2021-0095
  12. Ferriani, F. & Natoli, F. (2021), ‘ESG risks in times of Covid-19,’ Applied Economics Letters, vol. 28, no. 18, pp. 1537–1541. https://doi.org/10.1080/13504851.2020.1830932
  13. Global Sustainable Investment Alliance (2021), Global Sustainable Investment Review 2020. Retrieved from http://www.gsi-alliance.org/wp-content/uploads/2021/08/GSIR-20201.pdf [accessed Feb 2022]
  14. Gregory, H. J.; Palmer, H. M. & Wood, L. (2020), ‘Emerging trends in ESG disclosures highlighted in U.S. GAO report,’ Insights: The Corporate & Securities Law Advisor, vol. 34, no. 8, pp. 9–16.
  15. IMF (2021), Global Financial Stability Report: Covid-19, Crypto, and Climate: Navigating Challenging Transitions, International Monetary Fund.
  16. Leins, S. (2020), ‘Responsible investment: ESG and the post-crisis ethical order,’ Economy and Society, vol. 49, no. 1, pp. 71–91. https://doi.org/10.1080/03085147.2020.1702414
  17. Markard, J.; Raven, R. & Truffer, B. (2012), ‘Sustainability transitions: An emerging field of research and its prospects,’ Research Policy, vol. 41, no. 6, pp. 955–967. https://doi.org/10.1016/j.respol.2012.02.013
  18. McBrayer, G. A. (2018), ‘Does persistence explain ESG disclosure decisions?’ Corporate Social Responsibility and Environmental Management, vol. 25, no. 6, pp. 1074–1086. https://doi.org/10.1002/csr.1521
  19. McCahery, J.; Pudschedl, P. & Lopez-de-Silanes, F. (2020), ‘ESG performance and disclosure: A cross-country analysis,’ Singapore Journal of Legal Studies, vol. 1, pp. 217–241. https://doi.org/10.2139/ssrn.3505376
  20. OECD (2020), Developing Sustainable Finance Definitions and Taxonomies. Green Finance and Investment, A Brief for Policy Makers, OECD Publishing. https://doi.org/10.1787/a9c2f75f-en
  21. Pladson, K. (2022), ‘Rüstungsfirmen: Wir sind auch nachhaltig,’ Deutsche Welle, 25 March. Retrieved from https://www.dw.com/de/r%C3%BCstungsfirmen-wir-sind-auch-nachhaltig/a-61261032 [accessed Feb 2023]
  22. Pedersen, L. H.; Fitzgibbons, S. & Pomorski, L. (2020), ‘Responsible investing: The ESG-efficient frontier,’ Journal of Financial Economics, vol. 142, no. 2, pp. 572–597. https://doi.org/10.2139/ssrn.3466417
  23. Quatrini, S. (2021), ‘Challenges and opportunities to scale up sustainable finance after the COVID-19 crisis: Lessons and promising innovations from science and practice,’ Ecosystem Services, vol. 48, art. 101240. https://doi.org/10.1016/j.ecoser.2020.101240
  24. Refinitiv (2020), Sustainable Finance Review: First Nine Months 2020. Retrieved from https://www.refinitiv.com/content/dam/marketing/en_us/documents/reports/sustainable-finance-review-first-nine-months-2020-hsbc.pdf [accessed Feb 2023]
  25. Rezaee, Z. & Tuo, L. (2017), ‘Voluntary disclosure of non-financial information and its association with sustainability performance,’ Advances in Accounting, vol. 39, pp. 47–59. https://doi.org/10.1016/j.adiac.2017.08.001
  26. Roblek, V.; Thorpe, O.; Bach, M. P.; Jerman, A. & Meško, M. (2020), ‘The fourth industrial revolution and the sustainability practices: A comparative automated content analysis approach of theory and practice,’ Sustainability, vol. 12, no. 20, pp. 84–97. https://doi.org/10.3390/su12208497
  27. Sabatini, D. (2020), ‘EU Sustainable Finance and new disclosure obligations on ESG investments. The impacts on banks and investment firms,’ BANCARIA, Bancaria Editrice, vol. 1, pp. 10–16.
  28. Schwartzkopff, F. (2022), ‘ESG funds get ‘brutal wake-up call’ on $800 million Russia bonds,’ Bloomberg, 15 March. Retrieved from https://www.bloomberg.com/news/articles/2022-03-15/esg-funds-get-brutal-wake-up-call-on-800-million-russia-bonds [accessed 15 Mar 2022]
  29. de Silva Lokuwaduge, C. S. & De Silva, K. M. (2022), ‘ESG risk disclosure and the risk of green washing,’ Australasian Accounting, Business and Finance Journal, vol. 16, no. 1, pp. 146–159. https://doi.org/10.14453/aabfj.v16i1.10
  30. Singhania, M. & Saini, N. (2021), ‘Institutional framework of ESG disclosures: Comparative analysis of developed and developing countries,’ Journal of Sustainable Finance & Investment, vol. 13, no. 1, pp. 516–559. https://doi.org/10.1080/20430795.2021.1964810
  31. Sorkin, A. R.; Giang, V.; Gandel, S.; Hirsch, L.; Livni, E.; Gross, J.; Gallagher, D. F. & Schaverien, A. (2022), ‘Elon Musk’s next target,’ The New York Times, May 19. Retrieved from https://www.nytimes.com/2022/05/19/business/dealbook/elon-musk-tesla-esg.html [accessed Feb 2023]
  32. Tamimi, N. & Sebastianelli, R. (2017), ‘Transparency among S&P 500 companies: An analysis of ESG disclosure scores,’ Management Decision, vol. 55, no. 8, pp. 1660–1680. https://doi.org/10.1108/MD-01-2017-0018
  33. Transparency International (2021), Corruption Perceptions Index 2021. Retrieved from https://www.transparency.org/en/cpi/2021 [accessed 12 Mar 2022]
  34. Widyawati, L. (2020), ‘A systematic literature review of socially responsible investment and environmental social governance metrics,’ Business Strategy and the Environment, vol. 29, no. 2, pp. 619–637. https://doi.org/10.1002/bse.2393
  35. Yu, C.-H.; Wu, X.; Zhang, D.; Chen, S. & Zhao, J. (2021), ‘Demand for green finance: Resolving financing constraints on green innovation in China,’ Energy Policy, vol. 153, art. 112255. https://doi.org/10.1016/j.enpol.2021.112255
  36. Yu, E. P.-Y. & Van Luu, B. (2021), ‘International variations in ESG disclosure—Do cross-listed companies care more? International Review of Financial Analysis, vol. 75, art. 101731. https://doi.org/10.1016/j.irfa.2021.101731
DOI: https://doi.org/10.2478/bjes-2023-0002 | Journal eISSN: 2674-4619 | Journal ISSN: 2674-4600
Language: English
Page range: 8 - 39
Published on: May 24, 2023
In partnership with: Paradigm Publishing Services
Publication frequency: 2 issues per year

© 2023 Maurizio Pompella, Lorenzo Costantino, published by Tallinn University of Technology
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.