 Can environmental, social, and governance rating agencies favor business models that promote a more sustainable development?María Jesús Muñoz‐Torres, María Ángeles Fernández‐Izquierdo, Juana M. Rivera‐Lirio and Elena Escrig‐Olmedo Corporate Social Responsibility and Environmental Management, 2019, vol. 26, issue 2, 439-452 Abstract: The development of sustainable finance favors the appearance of environmental, social, and governance (ESG) rating agencies as providers of ESG information and tools for measuring the contribution of companies to sustainable development. This paper attempts to show whether assessment methods adopted by eight ESG agencies are consistent with the Integrative ESG Sustainable Value Framework proposed according to the literature and sustainable business models (SBMs) conceptualization. An exploratory research analyzes whether these methods are identifying and/or driving more SBMs that contribute to promote the creation of sustainable value, seeking to generate economic, social, and environmental value. Results indicate that ESG rating agencies identify the short‐term results in the internal organizational perspective mainly in the environmental dimension, whereas social aspects are emphasized from the external organizational perspective. However, ESG rating agencies are not driving a more SBMs that must integrate ESG criteria in a holistic way with a short‐term and long‐term perspective. Date: 2019 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:wly:corsem:v:26:y:2019:i:2:p:439-452 Access Statistics for this article More articles in Corporate Social Responsibility and Environmental Management from John Wiley & Sons |
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