In the financial market, ESG has become increasingly relevant for investment decisions, as it indicates the potential for generating economic value combined with concern for environmental, social, and corporate governance issues. The acronym ESG refers to a set of good practices that define how sustainable, socially conscious, and correctly managed a company is. The objective is to align companies' strategies and objectives with the interests of society and the environment, seeking sustainable and inclusive development.
In recent years, a growing number of regulatory bodies have implemented ESG disclosure requirements for publicly traded companies. These mandates oblige companies to provide comprehensive information regarding their environmental, social, and governance (ESG) policies, practices, and performance. The adoption of disclosure standards such as the Task Force on Climate-Related Financial Disclosures (TCFD) and the Sustainability Accounting Standards Board (SASB) is gaining momentum, reflecting the heightened emphasis on ESG considerations within the financial landscape.
This evolving scenario calls for concrete actions in the form of disseminated indicators that effectively capture the impact of companies’ ESG measures. As these indicators are refined and standardized, companies can voluntarily disclose this information, fostering alignment between their strategies and objectives and those of governments and regulatory bodies, ultimately contributing to the common good…
Abstract:
Risk is an inherent aspect of investing, representing the uncertainty associated with the expected return of a given asset. Conversely, the ESG score assesses a company’s commitment to sustainability principles, evaluating its environmental, social, and governance practices. This study investigates the relationship between risk and ESG score by analyzing data from 81 companies listed on the Brazilian stock exchange (B3). Employing statistical methods in a cross-sectional analysis using the ordinary least squares (OLS) method, the study found a statistically significant and positive correlation between a company’s debt level and its ESG score. Companies with strong ESG practices tend to be less volatile and more attractive to investors as they are perceived to be more sustainable and responsible entities. This is further supported by the observation that companies assessed in the ESG index exhibit lower risk factors.
Keywords: ESG, investments, risk
Résumé :
L’article propose un modèle opérationnel de reporting interne pour les entreprises agroalimentaires, à partir d’une revue institutionnelle. Les chiffres sur la malnutrition en France et dans le monde, le surpoids et l’obésité, le développement des MNT (maladies non transmissibles) ne cessent de croître, représentant des coûts directs et indirects considérables. L’appropriation de cette question est un enjeu de santé publique. L’OMS et l’ONU le font par leurs objectifs de développement durable (ODD) comme les organismes de normalisation et l’Union Européenne en encourageant une information publiée accrue. Au-delà de la régulation et de l’invitation au reporting externe, il est temps d’inciter à l’intégration de ces objectifs dans le management de ces entreprises ; d’où la proposition d’un modèle adapté aux entreprises du secteur agroalimentaire susceptible de répondre aux attentes de leurs parties prenantes.
Mots-clés : ESG, investissements, risque
Resumen:
El riesgo es un aspecto inherente a la inversión, que representa la incertidumbre asociada al rendimiento esperado de un activo determinado. Por el contrario, el puntaje ESG evalúa el compromiso de una empresa con los principios de sostenibilidad, evaluando sus prácticas ambientales, sociales y de gobernanza. Este estudio investiga la relación entre el riesgo y el puntaje ESG analizando datos de 81 empresas que cotizan en la bolsa de valores de Brasil (B3). Empleando métodos estadísticos en un análisis transversal utilizando el método de mínimos cuadrados ordinarios (MCO), el estudio encontró una correlación estadísticamente significativa y positiva entre el nivel de endeudamiento de una empresa y su puntaje ESG. Las empresas con fuertes prácticas ESG tienden a ser menos volátiles y más atractivas para los inversores, ya que se perciben como entidades más sostenibles y responsables. Esto también se ve respaldado por la observación de que las empresas evaluadas en el índice ESG presentan factores de riesgo más bajos.
Palabras claves: ESG, inversiones, riesgo
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