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Directions for future research to steer environmental, social and governance (ESG) investing to support sustainability: a systematic literature review

In: Handbook of Accounting and Sustainability

Author

Listed:
  • Subhash Abhayawansa
  • Oren Mooneeapen

Abstract

This chapter provides an overview of the state of the literature on investment practices that consider environmental, social and governance (ESG) factors. Such investing practices are commonly known as socially responsible investing (SRI), impact investing or sustainable investing. The literature review includes 99 journal articles on ESG investing published between 2009 and May 2021. The review shows that ESG investing research is growing, multidisciplinary, dominated by studies adopting quantitative (mainly archival) methods and concentrated in the developed markets (particularly North America and Europe). The four broad strands of research identified in the ESG investing literature are (1) investor behaviour in relation to ESG investing, (2) ESG investing strategies, (3) performance and characteristics of ESG-focused funds and portfolios and (4) ESG ratings. We show several ways future research on ESG investing could be directed towards developing the knowledge necessary to steer investing and corporate practices to support planetary sustainability.

Suggested Citation

  • Subhash Abhayawansa & Oren Mooneeapen, 2022. "Directions for future research to steer environmental, social and governance (ESG) investing to support sustainability: a systematic literature review," Chapters, in: Carol A. Adams (ed.), Handbook of Accounting and Sustainability, chapter 18, pages 318-341, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:20089_18
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