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

Rana Masud (), Mamun Md. Abdullah Al (), Islam Hasibul () and Hossain Md. Kamal ()
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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

Review of Economics, 2024, vol. 75, issue 3, 249-274

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.

Keywords: ESG; SDGs; panel quantile regression; South Asia (search for similar items in EconPapers)
JEL-codes: G34 O13 O53 Q01 Q56 (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1515/roe-2024-0053

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