The Impact of ESG Performance on Economic Growth: Global and Regional Cases

Călin-Adrian Comes () and Petru Oneț ()
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Călin-Adrian Comes: George Emil Palade University of Medicine, Pharmacy, Science, and Technology of Târgu Mureș, Romania
Petru Oneț: George Emil Palade University of Medicine, Pharmacy, Science, and Technology of Târgu Mureș, Romania

Acta Marisiensis. Series Oeconomica, 2025, vol. 1, 35-50

Abstract: Sustainable development has become a key concern in modern economics as countries face challenges such as climate change, social inequality, and governance deficiencies. Within this context, the Environmental, Social, and Governance (ESG) framework provides an integrated approach to evaluating how sustainability factors influence economic performance. This study examines the relationship between ESG performance and economic growth using data from 180 countries over the period 2015-2023. The analysis shows that environmental and social dimensions have a positive impact on GDP per capita, while the governance indicator has a more moderate role. However, the results vary significantly across regions, highlighting that ESG factors interact differently depending on economic structure and institutional capacity. In Europe, increases in CO₂ emissions have a negative impact on economic growth, reflecting the ongoing transition toward sustainable economic models.

Keywords: ESG; economic growth; sustainability; CO₂ emissions; sustainable development. (search for similar items in EconPapers)
JEL-codes: O44 Q01 Q56 (search for similar items in EconPapers)
Date: 2025
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