Environmental, Social And Governance (ESG): uma revisão sistemática das produções científicas no Brasil nos anos de 2020 a 2024

Abstract

The current study conducted a systematic review of academic works on Environmental, Social and Governance (ESG) in Brazil, published between 2020 and 2024, with the aim of mapping studies, exploring themes, and consolidating results, driven by the growing concern with environmental impacts and climate change. The quali-quantitative, exploratory, and bibliographic methodology involved the selection of 54 Portuguese-language articles from a total of 97 found in the Spell, Google Scholar, and Research Gate databases. The findings reveal a notable growth in ESG research in Brazil, predominantly in 2023 and 2024, primarily focusing on impacts and performance of ESG practices in companies and sectors, and ESG in capital markets and finance. There is a consensus on the positive association of ESG disclosure with market value and financial performance of companies, being seen as a strategic tool to add value, and the presence of women on boards of directors is correlated with improved overall ESG disclosure and social initiatives. However, the literature also points to divergences and inconclusive results regarding financial impact, citing the lack of standardization in sustainability reports and the risk of "greenwashing" as limitations, in addition to ESG controversies being associated with a reduction in company value. It is concluded that ESG transcends a mere differential, becoming almost an obligation for organizational credibility and sustainability, with the study contributing to consolidate existing knowledge, map trends, and identify gaps for future research.