Country-Level ESG Index Analysis: Unveiling Sustainability Dynamics and Business Opportunities in the Baltic States

Ieva Bužienė ()
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Ieva Bužienė: Vilnius University

A chapter in Smart Solutions for a Sustainable Future, 2025, pp 481-494 from Springer

Abstract: Abstract This research delves into the multifaceted landscape of Environmental, Social, and Governance considerations, with a particular focus on the Baltic States of Lithuania, Latvia, and Estonia. Utilizing a dataset comprising 26,146 scientific publications from the Web of Science Core Collection, the study discerns directionalities within the analysis of Environmental, Social, and Governance considerations across various domains. The findings reveal a pervasive exploration of Environmental, Social, and Governance, spanning distinct areas such as environmental effects, corporate performance, governance practices, and societal engagement initiatives. Notably, the analysis highlights the dominance of Estonia in terms of the Environmental, Social, and Governance index, albeit with notable variations observed across the Environmental, Social, and Governance dimensions. Furthermore, regression analysis elucidates the relationship between Environmental, Social, and Governance parameters and their impact on the Environmental, Social, and Governance index, Gross Domestic Product growth, and ease of doing business indicators. However, the findings indicate no statistically significant relationship between Environmental, Social, and Governance parameters and their impact on these variables, underscoring the complexity of the interplay between sustainability factors and economic performance. Despite these limitations, the research underscores the paramount importance of Environmental, Social, and Governance integration at the country level, presenting a compelling case for leveraging Environmental, Social, and Governance considerations to attract investment, foster economic growth, and promote sustainable business practices in the Baltic region. Importantly, the study constructs a country-level Environmental, Social, and Governance index, providing valuable insights into the sustainability performance of Lithuania, Latvia, and Estonia.

Keywords: ESG index; Baltic states; Sustainability; Ease of doing business; Environmental; Social; Governance (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-031-78179-7_29

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DOI: 10.1007/978-3-031-78179-7_29

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