Ahmad Hadiqa, Yaqub Muhammad, Lee Seung Hwan
School of Civil and Environmental Engineering, Kumoh National Institute of Technology, 1 Yangho-dong, Gumi, Gyeongbuk 730-701 Republic of Korea.
Environ Dev Sustain. 2023 Jan 25:1-23. doi: 10.1007/s10668-023-02921-x.
Consideration of environmental, social, and governance (ESG) factors can contribute to the environmental and economic performance of organizations in terms of investment and sustainability. This article thoroughly reviews the following factors influencing decisions regarding ESG policy by businesses: economic performance, environmental sustainability, pollution and waste, corporate social responsibility, gender, and governance structure. Moreover, we review the impact of these factors considering ESG disclosure, the global pandemic, religion, governing board and size, national interest, and technological advancements. The literature reports that ESG disclosures of environmental, economic, and social sustainability performance can strengthen business sustainability and performance. Religion-based businesses demonstrated better socio-environmental performance but not governance. An independent governing board has a positive impact; however, dual-gender boards negatively impact ESG disclosure. Significant diversification potential in ESG investments was observed during the COVID-19 pandemic. Adopting an ESG policy enhances the innovation capacity, innovative activities, value creation, and financial performance of businesses. Overall, the social and environmental performance demonstrated a significantly positive relationship with business sustainability, indicating that business economy and creating value for society are mutually dependent. The literature summary presented in this review will help future research on ESG factors that influence business investments and sustainability.
考虑环境、社会和治理（ESG）因素有助于组织在投资和可持续性方面的环境和经济表现。本文全面回顾了影响企业ESG政策决策的以下因素：经济表现、环境可持续性、污染与废物、企业社会责任、性别和治理结构。此外，我们还考虑了这些因素在ESG披露、全球大流行、宗教、董事会与规模、国家利益以及技术进步方面的影响。文献报道称，环境、经济和社会可持续性表现的ESG披露可以增强企业的可持续性和表现。基于宗教的企业展现出更好的社会环境表现，但治理方面并非如此。独立的董事会有积极影响；然而，双性别董事会对ESG披露有负面影响。在新冠疫情期间，ESG投资展现出显著的多元化潜力。采用ESG政策可提高企业的创新能力、创新活动、价值创造和财务表现。总体而言，社会和环境表现与企业可持续性呈现出显著的正相关关系，这表明商业经济与为社会创造价值是相互依存的。本综述中的文献总结将有助于未来关于影响商业投资和可持续性的ESG因素的研究。
