Corporate governance and Environmental, Social, and Governance practices as drivers of alignment with the sustainable development goals: Evidence from Bangladesh
- 1CIU Business School, Chittagong Independent University, 12, Jamal Khan Road, Kotwali, Chattogram, 4000, Bangladesh
Abstract
This study examines how Environmental, Social, and Governance (ESG) practices align with the United Nations Sustainable Development Goals (SDGs) among 296 firms listed on the Dhaka Stock Exchange in Bangladesh, which is used here as a climate-vulnerable emerging-economy case. Using 30 ESG and country-specific indicators, composite index construction, regression analysis, and factor analysis, the study evaluates the depth, sectoral variation, and institutional drivers of ESG adoption. The findings show that ESG engagement among listed firms is predominantly governance- and compliance-led, with relatively stronger performance in social and governance dimensions than in environmental and innovation-oriented areas. Export-oriented sectors, especially textiles and pharmaceuticals, demonstrate comparatively stronger alignment with labor- and health-related SDGs, whereas climate action, clean energy, and green innovation remain underdeveloped. The results further suggest that governance mechanisms and regulatory compliance improve ESG-SDG alignment, but often in ways that reflect symbolic rather than transformative sustainability adoption. By highlighting how institutional pressures shape the quality of ESG implementation in Bangladesh, the study contributes context-specific evidence to the broader debate on ESG effectiveness, substantive green transformation, and corporate SDG engagement in emerging markets.
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BibTeX
@article{chowdhury2026corporate,
title = {{Corporate governance and Environmental, Social, and Governance practices as drivers of alignment with the sustainable development goals: Evidence from Bangladesh}},
author = {Emon Kalyan Chowdhury},
journal = {Innovation and Green Development},
year = {2026},
month = oct,
doi = {10.1016/j.igd.2026.100401},
url = {https://doi.org/10.1016/j.igd.2026.100401},
note = {CC BY},
}
RIS
TY - JOUR
TI - Corporate governance and Environmental, Social, and Governance practices as drivers of alignment with the sustainable development goals: Evidence from Bangladesh
AU - Emon Kalyan Chowdhury
PY - 2026
DA - 2026/10/25
JO - Innovation and Green Development
DO - 10.1016/j.igd.2026.100401
UR - https://doi.org/10.1016/j.igd.2026.100401
AB - This study examines how Environmental, Social, and Governance (ESG) practices align with the United Nations Sustainable Development Goals (SDGs) among 296 firms listed on the Dhaka Stock Exchange in Bangladesh, which is used here as a climate-vulnerable emerging-economy case. Using 30 ESG and country-specific indicators, composite index construction, regression analysis, and factor analysis, the study evaluates the depth, sectoral variation, and institutional drivers of ESG adoption. The findings show that ESG engagement among listed firms is predominantly governance- and compliance-led, with relatively stronger performance in social and governance dimensions than in environmental and innovation-oriented areas. Export-oriented sectors, especially textiles and pharmaceuticals, demonstrate comparatively stronger alignment with labor- and health-related SDGs, whereas climate action, clean energy, and green innovation remain underdeveloped. The results further suggest that governance mechanisms and regulatory compliance improve ESG-SDG alignment, but often in ways that reflect symbolic rather than transformative sustainability adoption. By highlighting how institutional pressures shape the quality of ESG implementation in Bangladesh, the study contributes context-specific evidence to the broader debate on ESG effectiveness, substantive green transformation, and corporate SDG engagement in emerging markets.
SN - 2949-7531
ER -