The evolution of ESG scores in the Gulf Cooperation Council: The role of government initiatives
ガルフ協力理事会（GCC）におけるESGスコアの進化：政府イニシアティブの役割 (AI 翻訳)
Yomna Abdulla
🤖 gxceed AI 要約
日本語
本論文は、GCC諸国政府のイニシアティブが上場企業のESGスコアに与えた影響を2020-2024年のパネルデータで分析。固定効果・変量効果モデルにより、平均ESGスコアは上昇傾向を示し、特にUAEの強制ESG開示義務がポジティブな効果を持つことを発見。一方、サステナビリティ連動ローンやグリーンローンの効果は統計的に有意ではなかった。強制的開示規制の有効性を示唆する。
English
This paper analyzes the impact of GCC government initiatives on ESG scores of listed firms from 2020-2024 using panel data. It finds an upward trend in average ESG scores, with mandatory ESG disclosure in the UAE positively affecting performance. Sustainability-linked loans and green loans had no significant effect, suggesting regulatory enforcement is more effective than voluntary finance tools.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
GCC地域のESG開示政策の有効性を示す実証研究。日本でもSSBJ開示義務化が進む中、強制開示の効果を裏付けるエビデンスとして参考になる。ただし、サステナビリティ連動ローンの効果が限定的だった点は、日本のグリーンファイナンス政策にも示唆を与える。
In the global GX context
This paper provides empirical evidence on the effectiveness of mandatory ESG disclosure versus voluntary sustainable finance tools in the GCC. For global readers, it supports the case for regulatory mandates (like ISSB adoption) and suggests that sustainability-linked loans may require better awareness. Relevant for emerging economies designing ESG policies.
👥 読者別の含意
🔬研究者:Researchers can use the panel data approach and findings on the relative efficacy of disclosure mandates versus net-zero targets.
🏢実務担当者:Corporate sustainability teams in the GCC can use the evidence to align with mandatory disclosure requirements for ESG performance improvement.
🏛政策担当者:Policymakers in developing economies can note that mandatory ESG disclosure, not just voluntary commitments, drives score improvements.
📄 Abstract（原文）
This paper examines whether the Gulf Cooperation Council (GCC) governments’ initiatives have been reflected in the Environmental, Social, and Governance (ESG) scores of listed firms. Using panel data during the period 2020-2024, the paper tracks the evolution of ESG performance across 157 GCC-listed firms in response to regulatory and policy developments through fixed- and random-effects models. The findings reveal an upward trend in average ESG score, indicating alignment with the sustainability agenda in the region and with institutional and stakeholder theories. The results further indicate that the time trend is significant in Qatari firms, indicating that ESG scores improved even without a net-zero target. The results indicate that mandatory ESG disclosure requirements introduced in the UAE have had a positive effect on firms’ ESG performance, suggesting the effectiveness of regulatory enforcement tools. Finally, sustainability-linked loans and green loans do not have a statistically significant effect on ESG scores during our sample period. This paper provides important implications for policymakers, firms, and investors in the GCC, indicating that mandatory ESG disclosure is more effective than net-zero commitments in enhancing sustainability performance in the GCC. The limited impact of sustainable finance tools suggests a need for greater awareness of their benefits.
🔗 Provenance — このレコードを発見したソース
- openalex https://doi.org/10.55493/5002.v16i6.6076first seen 2026-07-18 06:41:40
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