Impacto dos indicadores ESG sobre o desempenho sobre o ativo

Abstract

ABSTRACT In recent years, ESG (Environmental, Social, and Governance) indicators have gained prominence in the global corporate landscape, becoming a strategic factor in business management. This study focuses on the impact of ESG indicators on Return on Assets (ROA), aiming to understand how sustainable and responsible practices can influence organizations' financial performance. The research investigates the question: what is the impact of ESG indicators on companies’ ROA? This study is justified by the need to understand the effects of the ESG agenda on financial performance, contributing to both academic knowledge and business practice. The objective is to analyze the relationship between ESG performance and ROA. The study examined 506 companies from emerging markets that adopt IFRS and have ESG data available on the Refinitiv Eikon platform between 2018 and 2022, excluding the financial sector. The sample was selected non-probabilistically based on specific filters related to country, currency, and share type. The analysis followed descriptive procedures and categorization based on Bardin (2011) to explore the relationship between ESG performance and ROA. The findings indicate a complex relationship between ESG practices and financial performance, with the social pillar showing a significantly positive effect. This suggests that investments in areas such as human capital, social well-being, and community engagement contribute to increased profitability.