Bibliometric Review of Global Environmental, Social, and Governance (ESG) and Sustainability Challenges

Abstract

Purpose: This bibliometric review investigates the evolution and thematic development of Environmental, Social, and Governance (ESG) research from 2000 to 2024, highlighting critical trends, regulatory milestones, and emerging solutions.
Study design/methodology/approach: The study employs a structured methodology to analyze research outputs through quantitative and qualitative bibliometric tools.
Sample and data: The analysis identifies three distinct phases of ESG research: Initial Growth (2000–2010), focusing on theoretical foundations and stakeholder engagement; Mainstreaming ESG (2011–2015), driven by regulatory frameworks such as the EU Non-Financial Reporting Directive; and Exponential Growth (2016–2024), marked by the adoption of global frameworks like the Paris Agreement and SDGs.
Results: Key findings include the increasing integration of technologies such as AI and blockchain in ESG reporting and the continued dominance of finance and energy sectors in ESG studies. However, significant gaps remain, including the underrepresentation of developing economies and small and medium enterprises (SMEs).
Originality/value: The study underscores the need for standardized ESG metrics, capacity-building initiatives, and cross-sector collaborations to bridge these gaps. Emerging solutions, such as the International Sustainability Standards Board (ISSB) and programs like AGRA, exemplify actionable pathways to enhance ESG adoption globally.
Research limitations/implications: This research provides policymakers, businesses, and academics with actionable insights to advance ESG practices, foster sustainability, and address inequities across regions and industries.