Do ESG progress disclosures influence investment decisions?

Sanseverino, Amanda; González-Ramírez, Jimena; Cwik, Kelly

doi:10.1057/s41310-023-00198-0

Cited by 3 publications

(1 citation statement)

References 51 publications

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“…Shrewd management has discovered that lying about their ESG activities makes it easier to capitalize on the sustainability trend and consumer and investor behavior when interacting with firms that report higher sustainability scores. This action is referred to as greenwashing (Sanseverino et al, 2023).…”

Section: Introductionmentioning

confidence: 99%

Untitled

2024

AJRSP

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Greenwashing presents a significant risk to sustainable financing, prompting researchers to investigate its impact on investors. In response to the urgency of combating this deceptive practice, financial market regulators have increasingly adopted ESG (environmental, social, governance) criteria. This study aims to comprehensively understand the effects of greenwashing by employing a mixed-method approach. Initially, a survey was conducted among participants to analyze their perspectives. The findings reveal a prevailing trend among individuals who seek to optimize investment returns, with a remarkable 50% of respondents demonstrating familiarity with greenwashing tactics. Notably, upon becoming aware of greenwashing practices, a substantial proportion of participants express a strong inclination to revise their investment strategies accordingly. Further exploration into the phenomenon uncovers a combination of factors contributing to greenwashing, including ambiguous legislation, stakeholder pressures, organizational qualities, and individual mindsets. Respondents emphasize the critical importance of enhanced transparency, a heightened emphasis on quality standards, and the enforcement of stringent regulations as key measures to mitigate the prevalence of greenwashing. This study sheds light on investors' sentiments regarding greenwashing, providing valuable insights into the impacts of this unethical practice on sustainable financing. Additionally, it offers practical recommendations to effectively combat greenwashing. By implementing suggested measures such as promoting transparency, prioritizing quality, and enforcing robust regulations.

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Section: Introductionmentioning

confidence: 99%

Untitled

2024

AJRSP

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Board gender diversity and ESG disclosure: The moderating role of audit committee

Ma,

Ahmad,

Torelli

2024

Corp Soc Responsibility Env

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This study analyzed whether the audit committee moderates the relationship between gender diversity and environmental, social, and governance (ESG) disclosures among Chinese listed firms. Data on energy sector companies from 2012 to 2022 were taken from the Chinese Stock Market and Accounting Research database to test the moderation model. Gender diversity was measured as the percentage of females on boards using the Blau and Shannon indices. Board gender diversity directly and positively affected both the overall and individual dimensions of ESG disclosures. Furthermore, the audit committee moderated the relationship between gender diversity and ESG disclosure. This study provides valuable insights for managers and investors to evaluate the role of gender diversity and audit committees in ESG disclosures and facilitates them in making better decisions. Furthermore, regulators can revise corporate governance codes to promote more female inclusion not only on corporate boards but also on subcommittees to protect the rights of stakeholders.

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