Impact of ESG (Environmental, Social, Governance) Practices on Financial Performance of Listed Indian Companies
インド上場企業におけるESG（環境・社会・ガバナンス）実践が財務パフォーマンスに与える影響 (AI 翻訳)
Prof. Brijesh D. Rashiya
🤖 gxceed AI 要約
日本語
本論文は、インド上場企業のESG実践が財務パフォーマンスに与える影響を、二次データ、規制動向、およびInfosys、TCS、リライアンス・インダストリーズ、ヒンドゥスタン・ユニリーバの事例を用いて分析。ESG実践は業務効率、ブランド評価、規制リスク低減、サステナブルファイナンスへのアクセスなどを通じて財務業績に正の影響を与えうるが、その効果はセクターや実装の質に依存し、短期的なコストを伴う可能性があることを示す。
English
This paper examines the impact of ESG practices on financial performance of listed Indian companies using secondary data, regulatory developments, and case studies from Infosys, TCS, Reliance Industries, and Hindustan Unilever. ESG practices can positively influence financial performance through operational efficiency, brand reputation, lower regulatory risk, access to sustainable finance, and investor confidence. However, the relationship is not automatic, varies by sector, and may involve short-term costs before long-term benefits.
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
SEBIが導入したBRSR（事業責任・サステナビリティ報告）枠組みにより、インドの上場企業はESG開示を義務化されつつある。本論文は、この規制環境下でのESG実践と財務パフォーマンスの関係を実証的に示しており、日本の有報・統合報告書におけるESG情報の活用や投資家対応にも示唆を与える。
In the global GX context
India's mandatory BRSR framework for listed companies is a significant step in ESG disclosure regulation. This paper provides empirical evidence on how ESG practices affect financial performance in an emerging market context, offering insights for global investors and companies navigating similar regulatory trends (e.g., ISSB, CSRD).
👥 読者別の含意
🔬研究者:ESGと財務パフォーマンスの関連性について、インド市場特有の規制要因を考慮した実証的知見を提供。
🏢実務担当者:ESG実践が財務業績に与える影響を理解し、自社のESG戦略や開示の優先順位付けに活用可能。
🏛政策担当者:BRSR開示義務の効果を評価する参考事例となり、日本を含む他国の開示制度設計に示唆を与える。
📄 Abstract（原文）
The growing importance of Environmental, Social and Governance (ESG) practices has transformed corporate performance evaluation from a purely financial exercise into a broader assessment of sustainability, risk management, stakeholder responsibility and long-term value creation. In India, this shift has become stronger after the Securities and Exchange Board of India (SEBI) introduced the Business Responsibility and Sustainability Report (BRSR) framework for listed entities. From FY 2023-24, the top 1,000 listed entities by market capitalisation are required to disclose ESG information in the updated BRSR format, while reasonable assurance of BRSR Core is being implemented through a phased glide path from the top 150 companies in FY 2023-24 to the top 1,000 companies by FY 2026-27 (Securities and Exchange Board of India [SEBI], 2023). This paper examines the impact of ESG practices on the financial performance of listed Indian companies using secondary data, recent regulatory developments, and company-level examples from Infosys, Tata Consultancy Services, Reliance Industries and Hindustan Unilever. The analysis shows that ESG practices can positively influence financial performance through operational efficiency; brand reputation, lower regulatory risk, access to sustainable finance, employee productivity and investor confidence. However, the relationship is not automatic; it differs across sectors, depends on the quality of ESG implementation, and may involve short-term costs before long-term benefits are realised.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.58213/wfy0eb45first seen 2026-07-01 05:55:52
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