Enhancing Corporate Sustainability through ESG and CSR Synergy
Identifying the Issue
Lack of integration between ESG and CSR practices leads to missed sustainability opportunities.
Companies struggle to effectively align ESG scores and CSR initiatives, limiting their impact.
Objective of the Research
To explore the relationship between ESG (Environmental Social Governance) and CSR (Corporate Social Responsibility) practices.
To introduce a “golden triangle” framework for enhancing sustainability through aligned ESG scores, CSR funding, and CSR activities.
Who should read this?
Business leaders, sustainability officers, corporate responsibility managers, policymakers in India and globally, and academic researchers in sustainability practices.
Solution
This research, conducted by Dr. M. S. Sai Vinod and Prof. N. Sivakumar, explores the synergy between Environmental Social Governance (ESG) and Corporate Social Responsibility (CSR). Their study introduces the “golden triangle” framework that integrates ESG scores, CSR funding, and CSR activities. Based on empirical analysis of listed public sector undertakings (PSUs) in India, the research shows how organizations with aligned ESG practices and CSR initiatives outperform those with isolated efforts. This framework has the potential to enhance corporate sustainability and create a more effective approach to addressing social and environmental challenges. The findings underline the importance of strategic integration for maximizing both social and environmental impacts in businesses.
Key Features and Benefits
a) Helps organizations align ESG and CSR initiatives for better sustainability outcomes.
b) Provides a framework for integrating CSR funding with ESG practices.
c) Increases the social and environmental impact of corporate activities.
d) Offers insights for businesses to enhance their corporate responsibility and sustainability efforts.
Impact
a) Organizations with integrated ESG and CSR strategies perform better in sustainability.
b) Empirical evidence supports the positive impact of aligning ESG scores with CSR activities.
c) Provides a foundation for future research on ESG and CSR integration in corporations.
Team
Dr. M. S. Sai Vinod, Prof. N. Sivakumar
Title of paper: “The relationship between ESG and CSR – achieving synergy through the golden triangle framework”
Journal: International Journal of Organizational Analysis – ABDC B journal; Scopus Q1
