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Exploring the Impact of ESG Practices on Sustainable Development Goals Achievement in South Asia

Author

Listed:
  • Rana Masud

    (Associate Professor, Department of Business Administration, 421986 Pabna University of Science and Technology , Pabna, Bangladesh)

  • Mamun Md. Abdullah Al

    (Professor, Department of Business Administration, 421986 Pabna University of Science and Technology , Pabna, Bangladesh)

  • Islam Hasibul

    (Lecturer, Department of Business Administration, Varendra University, Rajshahi, Bangladesh)

  • Hossain Md. Kamal

    (Associate Professor, Department of Business Administration, 421986 Pabna University of Science and Technology , Pabna, Bangladesh)

Abstract

This study explores the impact of Environmental, Social, and Governance (ESG) practices on Sustainable Development Goals (SDGs) in South Asia, using data from 2001 to 2023 across Afghanistan, Bangladesh, India, Pakistan, Nepal, Maldives, Bhutan, and Sri Lanka. Ordinary Least Squares (OLS) and panel quantile regression assess the effects of renewable energy consumption, forest area, CO2 emissions, life expectancy, population density, female-to-male ratio, control of corruption, government effectiveness, and regulatory quality on the SDG Index Score. The OLS results indicate high explanatory power (R2 = 0.734), with renewable energy and regulatory quality significantly boosting SDG outcomes, while control of corruption negatively influences them. Panel quantile regression highlights the consistent positive influence of renewable energy and the importance of gender equity and population density. CO2 emissions negatively affect higher quantiles, pointing to sustainability challenges. These findings emphasize the need for integrated governance, environmental management, and social equity in achieving SDGs.

Suggested Citation

  • Rana Masud & Mamun Md. Abdullah Al & Islam Hasibul & Hossain Md. Kamal, 2024. "Exploring the Impact of ESG Practices on Sustainable Development Goals Achievement in South Asia," Review of Economics, De Gruyter, vol. 75(3), pages 249-274.
    • Handle: RePEc:lus:reveco:v:75:y:2024:i:3:p:249-274:n:1003
    DOI: 10.1515/roe-2024-0053
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    More about this item

    Keywords

    ESG; SDGs; panel quantile regression; South Asia;
    All these keywords.

    JEL classification:

    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East

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