Cross-country comparative trend analysis in ESG regulatory framework across developed and developing nations
Management of Environmental Quality
ISSN: 1477-7835
Article publication date: 29 August 2023
Issue publication date: 2 January 2024
Abstract
Purpose
The purpose of this paper is to compare environmental, social and governance (ESG) disclosures regulatory frameworks in developed and developing countries, identifying similarities, differences and trends to contribute to effective and sustainable practices globally.
Design/methodology/approach
Descriptive research design compares ESG frameworks in developed and developing countries. It reviews literature, collects data, analyzes differences and categorizes countries based on ESG development stages. Implications, recommendations and an analytical ESG table are explored and validated.
Findings
The study's findings have significant implications for practice, society and research. The categorization of 28 countries into four ESG framework development stages facilitates strategic implementation and improved decision-making aligned with sustainability reporting.
Research limitations/implications
The study's findings will support regulators, policymakers and institutional investors in bridging the sustainability gap. By categorizing countries based on their ESG framework development stages, the study aims to provide benchmark practices for countries in the early stages of ESG disclosure. This will address information asymmetry issues and facilitate the establishment of resilient business operations and reporting practices. Ultimately, the study promotes long-term social and economic well-being by strengthening emerging sustainable practices.
Originality/value
To the best of the authors' knowledge, this study represents a novel contribution to the existing literature by analyzing the varying levels of development in the ESG policy framework across countries. It fills a gap in current research by providing a comprehensive assessment of the ESG landscape and highlighting the disparities and advancements in different countries. This study aims to shed light on the state of ESG policies and practices globally, providing valuable insights for future research and policy development in the field.
Keywords
Acknowledgements
This project is funded under ICSSR Impress Scheme under project id 1492.
Since acceptance of this article, the following author(s) have updated their affiliation(s): Neha Saini is at the Faculty of Management Studies, University of Delhi, New Delhi, India and Charu Shri is at the Shri Ram College of Commerce, University of Delhi, New Delhi, India.
Citation
Singhania, M., Saini, N., Shri, C. and Bhatia, S. (2024), "Cross-country comparative trend analysis in ESG regulatory framework across developed and developing nations", Management of Environmental Quality, Vol. 35 No. 1, pp. 61-100. https://doi.org/10.1108/MEQ-02-2023-0056
Publisher
:Emerald Publishing Limited
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