Beyond ESG Disclosures: Rethinking Impact Measurement in Sustainable Investing
ESG開示を超えて：サステナブル投資におけるインパクト測定の再考 (AI 翻訳)
Sandeepan Banerjee
🤖 gxceed AI 要約
日本語
本論文は、ESG投資が主流となる中で、企業の自己開示に依存した現行のESG評価が実際の環境・社会インパクトと乖離していることを批判的に分析する。定量的分析フレームワークを用いて、ESGスコアと実影響のギャップを明らかにし、シンボリック・コンプライアンスや選択的開示の存在を指摘する。さらに、アウトカムベースの評価と第三者検証を組み込んだインパクト評価手法を提案し、ESGの信頼性向上に貢献する。
English
This paper critically analyzes ESG investing, revealing significant discrepancies between reported ESG scores and actual environmental and social impact. Using a quantitative framework, it finds symbolic compliance and selective disclosure. It proposes an impact-based evaluation methodology with outcome-based measurement and third-party verification to enhance ESG credibility.
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
日本ではSSBJや統合報告書が注目される中、本論文はESG開示の実質性を問い直す視点を提供する。特に、有報や統合報告における非財務情報の信頼性向上に向けた示唆が得られる。
In the global GX context
Globally, this paper adds to the growing critique of ESG ratings and underscores the need for outcome-based impact measurement, aligning with regulatory pushes like the EU's CSRD and the SEC's climate disclosure rules.
👥 読者別の含意
🔬研究者:Researchers can adopt the proposed impact-based evaluation framework for further empirical testing.
🏢実務担当者:Corporate sustainability teams can use the findings to strengthen their ESG reporting and avoid symbolic compliance.
🏛政策担当者:Policymakers should note the gap between scores and impact to design more effective mandatory disclosure standards.
📄 Abstract（原文）
ESG investing has quickly established itself as a mainstream strategy in international financial markets as opposed to a niche strategy. Its validity is increasingly being questioned following the intensive use of corporate self-disclosures, uneven reporting guidelines and a lack of demonstration of practical implementation. This paper critically analyses ESG investing by assessing whether ESG measures truly reflect sustainable and socially responsible results or are a mere corporate story. The study determines the gap between reported ESG scores and actual environmental and social impact with the help of quantitative analytical framework. Analysis of primary quantitative data from ESG and investment professionals is performed to determine gaps, biases and inconsistency in rating. Results indicate major discrepancies between the reported ESG performance and the actual impact which indicate the existence of symbolic compliance and selective disclosure. The paper claims that the existing ESG models do not adequately address long-term sustainability metrics and omit the externalities on stakeholders and ecosystems. Through the suggestion of the impact-based evaluation methodology incorporating outcome-based measurement and third-party verification, this study will help enhance the credibility of ESG assessment. The article has implication for investors, regulators and policymakers to enhance the level of ESG transparency, accountability and capital allocation efficiency in sustainable finance.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.62823/ijarcmss/9.1(ii).8831first seen 2026-05-20 05:31:01
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