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New measurement of sovereign ESG index

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  • Jiang, Ping-Chuan
  • Feng, Gen-Fu
  • Yang, Hao-Chang

Abstract

In view of the progressive development of the ESG concept, this paper measures the sovereign ESG index of 171 countries worldwide over the period 1990–2020 by employing the entropy weight method based on relevant indicators from the World Bank's Sovereign ESG Database. The graphical analysis of the index leads to the preliminary conclusion that countries with higher economic levels tend to start earlier and focus more on ESG development, while low-income countries invest less in sustainable development and may have focused their development on the economy in the early stages of globalization. This research aims to contribute a set of instrumental data reflecting the current status and evolution of global sovereign ESG development, and to provide an important reference for studies related to sovereign ESG development and indicator system design.

Suggested Citation

  • Jiang, Ping-Chuan & Feng, Gen-Fu & Yang, Hao-Chang, 2022. "New measurement of sovereign ESG index," Innovation and Green Development, Elsevier, vol. 1(2).
    • Handle: RePEc:eee:ingrde:v:1:y:2022:i:2:s2949753122000091
    DOI: 10.1016/j.igd.2022.100009
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    References listed on IDEAS

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    1. Gen‐Fu Feng & Han Long & Hai‐Jie Wang & Chun‐Ping Chang, 2022. "Environmental, social and governance, corporate social responsibility, and stock returns: What are the short‐ and long‐Run relationships?," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(5), pages 1884-1895, September.
    2. Hui Jin & Xinyi Qian & Tachia Chin & Hejie Zhang, 2020. "A Global Assessment of Sustainable Development Based on Modification of the Human Development Index via the Entropy Method," Sustainability, MDPI, vol. 12(8), pages 1-20, April.
    3. Gillan, Stuart L. & Koch, Andrew & Starks, Laura T., 2021. "Firms and social responsibility: A review of ESG and CSR research in corporate finance," Journal of Corporate Finance, Elsevier, vol. 66(C).
    4. Yuxin Zhu & Dazuo Tian & Feng Yan, 2020. "Effectiveness of Entropy Weight Method in Decision-Making," Mathematical Problems in Engineering, Hindawi, vol. 2020, pages 1-5, March.
    5. Weale, Albert & Pridham, Geoffrey & Cini, Michelle & Konstadakopulos, Dimitrios & Porter, Martin & Flynn, Brendan, 2002. "Environmental Governance in Europe: An Ever Closer Ecological Union?," OUP Catalogue, Oxford University Press, number 9780199257478.
    6. Benedetto, F. & Giunta, G. & Mastroeni, L., 2016. "On the predictability of energy commodity markets by an entropy-based computational method," Energy Economics, Elsevier, vol. 54(C), pages 302-312.
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    Cited by:

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    More about this item

    Keywords

    Sustainable development; Sovereign ESG; Entropy weight method; Kernel density estimation;
    All these keywords.

    JEL classification:

    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
    • F01 - International Economics - - General - - - Global Outlook

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