This study investigates the influence of Environmental, Social, and Governance Disclosures (ESGD) on the profitability of firms, using a sample of 385 publicly listed companies on the Thai Stock Exchange. Data from 2018 to 2022 is sourced from the Bloomberg database, focusing on ESGD scores as indicators of companies’ ESG commitments. The study utilizes a structural equation model to examine the relationships between independent variables; ESGD, Earnings Per Share (EPS), Debt to Assets ratio (DA), Return on Investment Capital (ROIC), Total Assets (TA), and dependent variables Tobin’s Q (TBQ) and Return on Assets (ROA). The analysis reveals a positive relationship between ESGD and TBQ, but not with ROA. Further exploration is conducted to determine if different ESGD levels (high, medium, low) yield consistent effects on TBQ. The findings indicate discrepancies: high and medium ESGD levels are associated with a negative impact on TBQ when EPS increased, whereas low ESGD levels correlate with an increase in TBQ with rising EPS. This nuanced approach challenges the conventional uniform treatment of ESGD in previous research and provides a deeper understanding of how varying commitments to ESG practices affect a firm’s market valuation and profitability. These insights are crucial for firm management, highlighting the importance of ESGD in relation to other financial variables and their effects on market value. This study offers a new perspective on ESGD’s impact, emphasizing the need for differentiated strategies based on ESG commitment levels.

Economic growth is a pressing issue facing the global community transitioning to sustainable development. Sustainable development is impossible without rapid economic growth limited by imperfect technologies and social structure. Most often, the limit of economic growth is related not so much to the amount of natural resources as to the possibilities of the environment. The atmosphere, water reservoirs, and the earth are already at the limit of their capabilities. This forces us to look for ways to develop production in combination with the economic and environmental spheres. Advanced companies are the first environmentally oriented enterprises, because reducing the amount of primary raw and other materials and energy, switching to secondary raw materials, and processing them reduces the cost of production, and, most often, brings additional profit. This study evaluates socioeconomic approaches to the development of the environmental management system. The creation of an environmentally friendly enterprise’s field of activity is not only a solution to many economic and environmental issues but also one of the ways to transition to a normally functioning market system, given the financial capabilities of enterprises and the understanding of the necessity of state sustainable development by the company management and the population.

Based on the resource-based view and institutional theory, this study investigates the impact of their environmental management capabilities and environmental, social, and governance (ESG) pressure on the non-financial performance of small and medium-sized enterprises (SMEs). In particular, it examines the interaction effect of ESG pressures on the relationship between SMEs’ environmental management capabilities and non-financial performance. For this study, a total of 1865 SME lists were obtained through Jeonnam Techno Park and Jeonnam Small Business Job and Economy Promotion Agency. Based on this, a total of 127 questionnaires were returned as a result of a telephone, e-mail, and online survey, and finally, an empirical analysis was conducted based on 120 questionnaires. We conducted an empirical analysis of Korean SMEs and obtained the following results: First, environmental management capabilities have a significant, positive effect on SMEs’ non-financial performance. Second, ESG pressure has a significant, negative effect on the non-financial performance of SMEs. Next, we analyzed the moderating effect of ESG pressures and observed that ESG pressures strengthen the positive effect of environmental management capabilities on non-financial performance. Based on the resource-based perspective and institutional theory, this study provides meaningful academic implications by examining environmental management capabilities and ESG pressures, which have not been identified in previous studies, as factors of non-financial performance that are becoming important under the new management paradigm, such as climate change and ESG. Furthermore, while ESG pressure has a significant negative effect on non-financial performance, we find that it is a moderating variable that strengthens the relationship between SMEs’ environmental management capabilities and non-financial performance, which has useful academic and practical implications for ESG and strategic management.

Protecting the environment and the Earth's natural resources is one of the most important tasks for modern societies, economies, and countries. Changes in the environment have made climate protection a key task of state policy implemented at the local, national, and international. They also have caused such negative social manifestations as environmental radicalism and terrorism. The purpose of this paper was to analyze the capacity of state institutions to prevent environmental terrorism and radicalism, particularly in the Russian context, by identifying and prioritizing key challenges and countermeasures. A mixed-methods approach was adopted, involving both qualitative and quantitative analyses. Following the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) guidelines, a total of 35 articles and reviews were selected to provide a foundation for understanding eco-terrorism trends. Additionally, an expert survey was conducted with 44 qualified participants to rank problems and recommended actions. The Kendall concordance coefficient was used to assess the consistency of expert opinions. The authors conclude that low environmental awareness and insufficient cooperation between state institutions and environmental organizations are the most significant challenges in preventing eco-terrorism. To adequately and competently prevent environmental terrorism and radicalism in society, the prevention system must be based on clear and thoughtful actions by state institutions.

The sustainable development of the global economy and society necessitates the integration of environmental and socially responsible management, known as ESG (environmental, social, and corporate governance). Despite growing recognition of ESG’s importance, the strategic management of ESG factors in Kazakhstan’s telecommunications industry remains underexplored. This study bridges this gap by analyzing Kazakh telecom’s ESG strategies from 2019 to 2021 through a cross-sectional design and semi-structured interviews with 12 industry experts. Utilizing the National Rating Agency (NRA) methodology, the research evaluates environmental, social, and governance variables. Key findings reveal that Kazakh telecom excels in “Climate Change” and “Human Capital Management” but needs significant improvements in “Environmental Impact” and “Society.” The study offers specific recommendations such as enhancing corporate volunteering, responsible marketing, service quality, and integrating sustainable practices. The primary contributions of this research include actionable insights for improving ESG strategies in telecommunications companies and advocating for more systematic and standardized ESG assessment approaches. This study expands the understanding of how ESG principles can enhance competitiveness and sustainable development in the telecommunications industry, providing valuable guidance for industry practitioners and policymakers. It offers insights into effective ESG implementation practices and highlights critical areas requiring attention to drive sustainable development in telecommunications.