How Do ESG Factors Influence Financial Performance in Leading Sustainable Companies?

Kucséber, László Zoltán (2026) How Do ESG Factors Influence Financial Performance in Leading Sustainable Companies? In: FEJLŐDÉSI PÁLYÁK ÉS ÚJ TÖRÉSVONALAK A FENNTARTHATÓSÁGI ÁTMENET IDŐSZAKÁBAN : Nemzetközi tudományos konferencia a Magyar Tudomány Ünnepe alkalmából. Soproni Egyetem Kiadó, Sopron, pp. 646-654. ISBN 9789633345795

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Abstract

A key research question concerning the relationship between ESG (Environmental, SocialGovernance) factors and corporate performance is whether the implementation of environmentally conscious technologies and the transition to cleaner production processes representmerely a corporate response to social pressure, or rather a rational investment that generatesmeasurable and positive effects on firms’ financial performance. In this study, I examine theTop 100 companies included in the publicly available sustainability ranking, the CorporateKnights’ Global 100, using statistical methods and drawing on approximately 35 financial andnon-financial variables across the three ESG dimensions. The sources used in the compilationof the list include annual financial statements as well as sustainability and CSR reports. Thepurpose of this research is to provide a comprehensive overview of companies that operate atthe highest level of sustainability. The empirical analysis of the international sustainability institute’s TOP 100 list provides several reasons for optimism: traditionally polluting industriessuch as chemicals are represented in similar proportions to service sectors, geographical diversity is increasing with the rise of Chinese firms, and the significant number of new entrantsreflects a growing corporate commitment to sustainability.

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