Environmental, social, and governance practices and reporting readiness in small and medium-sized enterprises
DOI: https://doi.org/10.3846/tede.2025.25072Abstract
Following the European Sustainability Reporting Standards (ESRS), in 2026, the non-financial reporting obligation will be extended to small and medium-sized enterprises listed on the regulated market and meet employment and financial criteria. The obligation will also affect their contractors, suppliers, customers, and all stakeholders that influence a company’s overall Environmental, Social, and Governance (ESG) performance. The study aims to identify the Small and Medium-sized Enterprises’ (SME) practices in the field of ESG and recognise whether they are ready to report on their ESG activities. A quantitative method was used to obtain a general picture of the approach to ESG practices. The study was conducted among 300 Polish companies. The study results show that about half of the surveyed small and medium-sized enterprises conduct ESG activities and monitor ESG indicators. More than half demonstrate basic or good readiness for ESG reporting following the adopted criterion. This study’s contribution is twofold. First, it enriches the current state of knowledge by adding original insights into the ESG practices of SMEs, while most existing studies focus on the ESG activities of large enterprises. Second, the study’s novelty is its attempt to assess the readiness for ESG reporting at the corporate and country levels.
Keywords:
ESG practices, SME, machinery manufacturers, ESG reporting readinessHow to Cite
Share
License
Copyright (c) 2025 The Author(s). Published by Vilnius Gediminas Technical University.
This work is licensed under a Creative Commons Attribution 4.0 International License.
References
Alam, A., Banna, H., Alam, A. W., Bhuiyan, M. B. U., & Mokhtar, N. B. (2024). Climate change and geopolitical conflicts: The role of ESG readiness. Journal of Environmental Management, 353, Article 120284. https://doi.org/10.1016/j.jenvman.2024.120284
Al-Amin, A. Q., Filho, W. L., & Kabir, M. A. (2018). The challenges of sustainability in business: How governments may ensure sustainability for offshore firms. Technological and Economic Development of Economy, 24(1), 108–140. https://doi.org/10.3846/20294913.2015.1075442
Arvidsson, S., & Dumay, J. (2022). Corporate ESG reporting quantity, quality and performance: Where to now for environmental policy and practice?. Business Strategy and The Environment, 31(3), 1091–1110. https://doi.org/10.1002/bse.2937
Asif, M., Searcy, C., & Castka, P. (2023). ESG and Industry 5.0: The role of technologies in enhancing ESG disclosure. Technological Forecasting and Social Change, 195, Article 122806. https://doi.org/10.1016/j.techfore.2023.122806.
Atan, R., Alam, M. M., Said, J., & Zamri, M. (2018). The impacts of environmental, social, and governance factors on firm performance: Panel study of Malaysian companies. Management of Environmental Quality, 29(2), 182–194. https://doi.org/10.1108/MEQ-03-2017-0033
Azmi, W., Hassan, M. K., Houston, R., & Karim, S. M. (2021). ESG activities and banking performance: International evidence from emerging economies. Journal of International Financial Markets, Institutions and Money, 70, Article 101277. https://doi.org/10.1016/j.intfin.2020.101277
Bade, C., Olsacher, A., Boehme, P., Truebel, H., Bürger, L., & Fehring, L. (2024). Sustainability in the pharmaceutical industry – An assessment of sustainability maturity and effects of sustainability measure implementation on supply chain security. Corporate Social Responsibility and Environmental Management, 31(1), 224–242. https://doi.org/10.1002/csr.2564
Badea Florea, E. C., & Olteanu Burrcă, A. L. (2024). Impact of audit committee independence and expertise at company level in streamlining ESG reporting: Quantitative research. Journal of Eastern Europe Research in Business and Economics, Article 818556. https://doi.org/10.5171/2024.818556
Bax, K., & Paterlini, S. (2022). Environmental social governance information and disclosure from a company perspective: A structured literature review. International Journal of Business Performance Management, 23(3), 304–322. https://doi.org/10.1504/IJBPM.2022.123824
Bax, K., Sahin, Ö., Czado, C., & Paterlini, S. (2023). ESG, risk, and (tail) dependence. International Review of Financial Analysis, 87, Article 102513. https://doi.org/10.1016/j.irfa.2023.102513
Boix-Fayos, C., & de Vente, J. (2023). Challenges and potential pathways towards sustainable agriculture within the European Green Deal. Agricultural Systems, 207, Article 103634. https://doi.org/10.1016/j.agsy.2023.103634
Bolisetty, S., Peydayesh, M., & Mezzenga, R. (2019). Sustainable technologies for water purification from heavy metals: Review and analysis. Chemical Society Reviews, 48(2), 463–487. https://doi.org/10.1039/C8CS00493E
Britel, Z., & Cherkaoui, A. (2022). Measuring an organization’s change readiness regarding the implementation of corporate social responsibility. International Journal of Management and Sustainability, 11(1), 1–20. https://doi.org/10.18488/11.v11i1.2916
Broadstock, D., Matousek, R., Meyer, M., & Tzeremes, N. G. (2020). Does corporate social responsibility impact firms’ innovation capacity? The indirect link between environmental & social governance implementation and innovation performance. Journal of Business Research, 119, 99–110. https://doi.org/10.1016/j.jbusres.2019.07.014
Brogi, M., Lagasio, V., & Porretta, P. (2022). Be good to be wise: Environmental, social, and governance awareness as a potential credit risk mitigation factor. Journal of International Financial Management & Accounting, 33(3), 522–547. https://doi.org/10.1111/jifm.12156
Broniewicz, E., Jastrzębska, E., & Lulewicz-Sas, A. (2024). Environmental disclosures according to ESRS in ESG reporting of selected banks in Poland. Economics and Environment, 88(1), Article 719. https://doi.org/10.34659/eis.2024.88.1.719
Bruna, M. G., Loprevite, S., Raucci, D., Ricca, B., & Rupo, D. (2022). Investigating the marginal impact of ESG results on corporate financial performance. Finance Research Letters, 47, Article 102828. https://doi.org/10.1016/j.frl.2022.102828
Cabaleiro-Cerviño, G., & Mendi, P. (2024). ESG-driven innovation strategy and firm performance. Eurasian Business Review, 14, 137–185. https://doi.org/10.1007/s40821-024-00254-x
Cek, K., & Eyupoglu, S. (2020). Does environmental, social, and governance performance influence economic performance? Journal of Business Economics and Management, 21(4), 1165–1184. https://doi.org/10.3846/jbem.2020.12725
Chakraborty, S., Dash, S. K., Elavarasan, R. M., Kaur, A., Elangovan, D., Meraj, S. T., Kasinathan, P., & Said, Z. (2022). Hydrogen energy as future of sustainable mobility. Frontiers in Energy Research, 10, Article 893475. https://doi.org/10.3389/fenrg.2022.893475
Chen, X., Chen, X., Fang, M., Xia, W., & Hu, Y. (2023). The impact of the top management team faultlines on environment, social and governance performance of listed companies. Technological and Economic Development of Economy, 29(6), 1776–1806. https://doi.org/10.3846/tede.2023.19547
Chien, F., Chau, K. Y., & Huang, X.-C. (2024). The perceived relationship between sustainable energy technologies, eco-innovation, economic growth and social sustainability: Evidence from China. Technological and Economic Development of Economy, 30(1), 175–195. https://doi.org/10.3846/tede.2024.20445
Chung, K., Nguyen, L. T. M., & Nguyen, D. T. T. (2023). Improving hotels’ operational efficiency through ESG investment: A risk management perspective. Service Science, 16(3), 143–240. https://doi.org/10.1287/serv.2023.0080
Costello, A. B., & Osborne, J. W. (2005). Best practices in exploratory factor analysis: Four recommendations for getting the most from your analysis. Practical Assessment, Research, and Evaluation, 10(7), 1–9.
Crawford, J., & Nilsson, F. (2023). Integrating ESG risks into control and reporting: Evidence from practice in Sweden. In T. Rana, J. Svanberg, P. Öhman, & A. Lowe (Eds.), Handbook of big data and analytics in accounting and auditing (pp. 255–277). Springer. https://doi.org/10.1007/978-981-19-4460-4_12
Cruz, C. A., & Matos, F. (2023). ESG maturity: A software framework for the challenges of ESG data in investment. Sustainability, 15(3), Article 2610. https://doi.org/10.3390/su15032610
Dalal-Clayton, B. (2004). The EU strategy for sustainable development: Process and prospects (Enviromental Planning Issues, No. 27). International Institute for Environment and Development.
De Lucia, C., Pazienza, P., & Bartlett, M. (2020). Does good ESG lead to better financial performances by firms? Machine learning and logistic regression models of public enterprises in Europe. Sustainability, 12(13), Article 5317. https://doi.org/10.3390/su12135317
Dicuonzo, G., Donofrio, F., Ranaldo, S., & Dell’Atti, V. (2022). The effect of innovation on environmental, social and governance (ESG) practices. Meditari Accountancy Research, 30(4), 1191–1209. https://doi.org/10.1108/MEDAR-12-2020-1120
Distefano, N. (2023). Most companies lagging in ESG data-assurance readiness, KPMG finds. Retrieved December 10, 2023, from https://www.governance-intelligence.com/regulatory-compliance/most-companies-lagging-esg-data-assurance-readiness-kpmg-finds
Dyllick, T., & Muff, K. (2016). Clarifying the meaning of sustainable business: Introducing a typology from business-as-usual to true business sustainability. Organization & Environment, 29(2), 156–174. https://doi.org/10.1177/1086026615575176
Ejdys, J., & Szpilko, D. (2022). European Green Deal – research directions. A systematic literature review. Economics and Environment, 81(2), 8–38. https://doi.org/10.34659/eis.2022.81.2.455
Fernández-Gago, R., Cabeza-García, L., & Godos-Díez, J. (2020). How significant is corporate social responsibility to business research? Corporate Social Responsibility and Environmental Management, 27(4), 1809–1817. https://doi.org/10.1002/csr.1927
Galletta, S., Mazzù, S., & Naciti, V. (2022). A bibliometric analysis of ESG performance in the banking industry: From the current status to future directions. Research in International Business and Finance, 62, Article 101684. https://doi.org/10.1016/j.ribaf.2022.101684
Gatnar, E., & Walesiak, M. (2004). Metody statystycznej analizy wielowymiarowej w badaniach marketingowych [Methods of statistical multidimensional analysis in marketing research]. Oskar Lange University of Economics Publishing House.
Gladysz, B., Krystosiak, K., Buczacki, A., Quadrini, W., Ejsmont, K., Kluczek, A., Park, J., & Fumagalli, L. (2024). Sustainability and Industry 4.0 in the packaging and printing industry: A diagnostic survey in Poland. Engineering Management in Production and Services, 16(2), 51–67. https://doi.org/10.2478/emj-2024-0013
Guenster, N. (2012). Performance implications of SR investing: Past versus future. In H. K. Baker & J. R. Nofsinger (Eds.), Socially responsible finance and investing: Financial institutions, corporations, investors, and activists (pp. 443–454). Wiley. https://doi.org/10.1002/9781118524015.ch23
Gulc, A., & Budna, K. (2024). Classification of smart and sustainable urban mobility. Energies, 17(9), Article 2148. https://doi.org/10.3390/en17092148
Gutiérrez-Ponce, H., Chamizo-González, J., & Arimany-Serrat, N. (2022). Disclosure of environmental, social, and corporate governance information by Spanish companies: A compliance analysis. Sustainability, 14(6), Article 3254. https://doi.org/10.3390/su14063254
He, G., Liu, Y., & Chen, F. (2023). Research on the impact of environment, society, and governance (ESG) on firm risk: An explanation from a financing constraints perspective. Finance Research Letters, 58, Article 104038. https://doi.org/10.1016/j.frl.2023.104038
Henisz, W., Koller, T., & Nuttall, R. (2019). Five ways that ESG creates value. McKinsey Quarterly, 1–12. https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/five-ways-that-esg-creates-value
Hind, P., Wilson, A., & Lenssen, G. (2009). Developing leaders for sustainable business. Corporate Governance, 9(1), 7–20. https://doi.org/10.1108/14720700910936029
Hostert, T. (2023). Assessing the corporate readiness for sustainability reporting: An analysis of companies subject to the Non-Financial Reporting Directive (NFRD) in anticipation of the forthcoming Corporate Sustainability Reporting Directive (CSRD) [Master thesis, Louvain School of Management]. http://hdl.handle.net/2078.1/thesis:41510
Humphrey, J. E., Lee, D. D., & Shen, Y. (2012). Does it cost to be sustainable? Journal of Corporate Finance, 18(3), 626–639. https://doi.org/10.1016/j.jcorpfin.2012.03.002
Ionescu, G. H., Firoiu, D., Pirvu, R., & Vilag, R. D. (2019). The impact of ESG factors on market value of companies from travel and tourism industry. Technological and Economic Development of Economy, 25(5), 820–849. https://doi.org/10.3846/tede.2019.10294
Jin, I. (2024). Systematic ESG risk and hedge fund. Quantitative Finance and Economics, 8(2), 387–409. https://doi.org/10.3934/QFE.2024015
Kulkarni, A., Joseph, S., & Patil, K. (2023, May 5–6). Role of artificial intelligence in sustainability reporting by leveraging ESG theory into action. In Proceedings of the 2023 International Conference on Advancement in Computation & Computer Technologies (InCACCT) (pp. 795–800). Gharuan, India. IEEE. https://doi.org/10.1109/InCACCT57535.2023.10141584
Kamińska-Witkowska, A., & Kaźmierczak, M. (2024). Sustainability reporting in selected automotive companies. Engineering Management in Production and Services, 16(3), 129–142. https://doi.org/10.2478/emj-2024-0028
Kapil, S., & Rawal, V. (2023). Sustainable investment and environmental, social, and governance investing: A bibliometric and systematic literature review. Business Ethics, the Environment & Responsibility, 32(4), 1429–1451. https://doi.org/10.1111/beer.12588
Khamisu, M. S., Paluri, R. A., & Sonwaney, V. (2024). Stakeholders’ perspectives on critical success factors for environmental social and governance (ESG) implementation. Journal of Environmental Management, 365, Article 121583. https://doi.org/10.1016/j.jenvman.2024.121583
Kim, J., Kim, M., Im, S., & Choi, D. (2021). Competitiveness of E Commerce firms through ESG logistics. Sustainability, 13(20), Article 11548. https://doi.org/10.3390/su132011548
Kimbrough, M. D., Wang, X., Wei, S., & Zhang, J. (2024). Does voluntary ESG reporting resolve disagreement among ESG rating agencies? European Accounting Review, 33(1), 15–47. https://doi.org/10.1080/09638180.2022.2088588
Kopnina, H., & Blewitt, J. (2014). Sustainable business: Key issues (1st ed.). Routledge. https://doi.org/10.4324/9781315816586
Kocmanová, A., Karpíšek, Z., & Klímková, M. (2012). The construction of environmental indicators for determination of performance of ESG indicators to support decision-making of investors. Business: Theory and Practice, 13(4), 333–342. https://doi.org/10.3846/btp.2012.35
Korzeb, Z., Alonso-Fariñas, B., Irimia-Diéguez, A. I., Jiménez Naharro, F., Kobylińska, U., di-Pietro, F., Palacín-Sánchez, M.-J., Rollnik-Sadowska, E., Szpilko, D., Szydło, J., & Torre Gallegos, A. d. l. (2024a). The future of European universities on the path to sustainable development. Engineering Management in Production and Services, 16, 68–89. https://doi.org/10.2478/emj-2024-0014
Korzeb, Z., Niedziółka, P., Szpilko, D., & Torre Gallegos, A. d. l. (2024b). A bibliometric analysis of ESG performance in the cooperative banks: From the current status to future directions. Economics and Environment, 89(2), Article 809. https://doi.org/10.34659/eis.2024.89.2.809
Krambia-Kapardis, M., Savva, C. S., & Stylianou, I. (2023). Socio-economic factors affecting ESG reporting call for globally agreed standards. Sustainability, 15(20), Article 14927. https://doi.org/10.3390/su152014927
Lahouel, B. B., Zaied, Y. B., Song, Y., & Yang, G.-l. (2021). Corporate social performance and financial performance relationship: A data envelopment analysis approach without explicit input. Finance Research Letters, 39, Article 101656. https://doi.org/10.1016/j.frl.2020.101656
Lasek, M., & Pęczkowski, M. (2010). Grupowanie zmiennych w procesach eksploracji danych (Data Mining) [Variable clustering in exploration data processes]. Economy and Management, 2(1), 83–94.
Lehman, W. E., Greener, J. M., & Simpson, D. D. (2002). Assessing organizational readiness for change. Journal of Substance Abuse Treatment, 22(4), 197–209. https://doi.org/10.1016/s0740-5472(02)00233-7
Leitgeb, M., Knez, Ž., K., & Primožič, M. (2020). Sustainable technologies for liposome preparation. The Journal of Supercritical Fluids, 165, Article 104984. https://doi.org/10.1016/j.supflu.2020.104984
Lee, J., Kim, J., & Cho, J. (2024). The impact of ESG participation on firm innovation: Empirical findings from international data. SAGE Open, 14(2). https://doi.org/10.1177/21582440241253424
Li, T.-T., Wang, K., Sueyoshi, T., & Wang, D. D. (2021). ESG: Research progress and future prospects. Sustainability, 13(21), Article 11663. https://doi.org/10.3390/su132111663
Liu, M. (2022). Quantitative ESG disclosure and divergence of ESG ratings. Frontiers in Psychology 13, Article 936798. https://doi.org/10.3389/fpsyg.2022.936798
Liu, J., Ge, Z., & Wang, Y. (2024). Role of environmental, social, and governance rating data in predicting financial risk and risk management. Corporate Social Responsibility and Environmental Management, 31(1), 260–273. https://doi.org/10.1002/csr.2567
Mahler, D., & Kearney, A. T. (2007). The sustainable supply chain. Supply Chain Management Review, 11(8), 59–60.
Mai, D. T. N. (2024). The role of Industry 5.0 in increasing ESG disclosure: A case study in Vietnam. International Journal of Advanced Multidisciplinary Research and Studies, 4(2), 1197–1201.
McBrayer, G. A. (2018). Does persistence explain ESG disclosure decisions? Corporate Social Responsibility and Environmental Management, 25(6), 1074–1086. http://dx.doi.org/10.1002/csr.1521
Montiel, I., & Delgado-Ceballos, J. (2014). Defining and measuring corporate sustainability: Are we there yet? Organization & Environment, 27(2), 113–139. https://doi.org/10.1177/1086026614526413
Mukhtar, S, Manan, N. A., & Shukri, F. H. M. (2023). The degree of readiness in practicing ESG concepts in higher learning institutions. Asian Social Science and Humanities Research Journal (ASHREJ), 5(1), 48–55.
Nielsen, C. (2023). ESG reporting and metrics: From double materiality to key performance indicators. Sustainability, 15(24), Article 16844. https://doi.org/10.3390/su152416844
Oakland, J., & Tanner, S. (2007). Successful change management. Total Quality Management & Business Excellence, 18(1–2), 1–19. https://doi.org/10.1080/14783360601042890
Petelczyc, J. (2022). The readiness for ESG among retail investors in Central and Eastern Europe. The example of Poland. Global Business Review, 23(6), 1299–1315. https://doi.org/10.1177/09721509221114754
Peterson, S. M. (2013). Readiness to change: Effective implementation processes for meeting people where they are. In T. Halle, A. Metz & I. Martinez-Beck (Eds.), Applying implementation science to early childhood programs and systems (pp. 43–64). Paul H. Brookes Publishing.
Plastun, A., Makarenko, I., Krvchenko, O., Ovcharova, N., & Oleksich, Z. (2019). ESG disclosure regulation: In search of a relationship with the countries competitiveness. Problems and Perspectives in Management, 17(3), 76–88. https://doi.org/10.21511/ppm.17(3).2019.06
Polish ESG Association. (2024). Raport. Szanse i ryzyka ESG [Report. ESG Opportunities and risks] https://polskiestowarzyszenieesg.pl/raport-szanse-i-ryzyka-esg/
Pyka, I., & Nocoń, A. (2024). Exposure to the ESG risk of the Polish banking sector. Economics and Environment, 88(1), Article 701. https://doi.org/10.34659/eis.2024.88.1.701
Reig-Mullor, J., Garcia-Bernabeu, A., Pla-Santamaria, D., & Vercher-Ferrandiz, M. (2022). Evaluating ESG corporate performance using a new neutrosophic AHP-TOPSIS based approach. Technological and Economic Development of Economy, 28(5), 1242–1266. https://doi.org/10.3846/tede.2022.17004
Rodrigues, M., & Franco, M. (2019). The corporate sustainability strategy in organisations: A systematic review and future directions. Sustainability, 11(22), Article 6214. https://doi.org/10.3390/su11226214
Sanclaudio, M. B., Garcés-Galdeano, L. & Salazar Morales, I. A. (2025). Enhancing innovation through ESG practices: The superior impact on family businesses. Journal of Family Business Management. https://doi.org/10.1108/jfbm-09-2024-0234
Sierra-Garcia, L., Garcia-Benau, M. A., & Bollas-Araya, H. M. (2018). Empirical analysis of non-financial reporting by Spanish companies. Administrative Sciencies, 8(3), Article 29. https://doi.org/10.3390/admsci8030029
Shalhoob, H., & Hussainey, K. (2023). Environmental, social and governance (ESG) disclosure and the small and medium enterprises (SMEs) sustainability performance. Sustainability, 15(1), Article 200. https://doi.org/10.3390/su15010200
Snodgrass, B. (2023). The drivers of sustainability in industrial machinery. Siemens. https://blogs.sw.siemens.com/thought-leadership/2023/06/08/the-drivers-of-sustainability-in-industrial-machinery/
Szczepańska-Woszczyna, K., & Kurowska-Pysz, J. (2016). Sustainable business development through leadership in SMEs. Engineering Management in Production and Services, 8(3), 57–69. https://doi.org/10.1515/emj-2016-0024
Szewczyk, Ł., & Szustak, G. (2023). Disclosure of non-financial information in banks – an ESG perspective. Regulatory requirements and banking practice. Annales Universitatis Mariae Curie-Skłodowska, sectio H – Oeconomia, 57(2), 157–174.
Szpilko, D., Budna, K., Drmeyan, H., & Remiszewska, A. (2023). Sustainable and smart mobility – research directions. A systematic literature review. Economics and Environment, 86(3), 31–61. https://doi.org/10.34659/eis.2023.86.3.584
Taliento, M., Favino, C., & Netti, A. (2019). Impact of environmental, social, and governance information on economic performance: Evidence of a corporate ‘sustainability advantage’ from Europe. Sustainability, 11(6), Article 1738. https://doi.org/10.3390/su11061738
Tuntland, Ø. (2023). Readiness assessment for the transition into meeting new requirements of the European Sustainability Reporting Standards [Master thesis, University of Stavanger]. https://uis.brage.unit.no/uis-xmlui/handle/11250/3088410
United Nations Industrial Development Organization. (2024). Industrial development report 2024: Turning challenges into sustainable solutions: The new era of industrial policy. https://www.unido.org/sites/default/files/unido-publications/2024-06/Industrial%20Development%20Report%202024.pdf
Villena, V. H., & Gioia, D. A. (2020). A more sustainable supply chain. Harvard Business Review, 98(2), 84–93.
Veenstra, E. M., & Ellemers, N. (2020). ESG indicators as organizational performance goals: Do rating agencies encourage a holistic approach?. Sustainability, 12(24), Article 10228. https://doi.org/10.3390/su122410228
Warhurst, A. (2005). Future roles of business in society: The expanding boundaries of corporate responsibility and a compelling case for partnership. Futures, 37(2–3), 151–168. https://doi.org/10.1016/j.futures.2004.03.033
Wen, H., Ho, K. C., Gao, J., & Yu, L. (2022). The fundamental effects of ESG disclosure quality in boosting the growth of ESG investing. Journal of International Financial Markets, Institutions & Money, 81, Article 101655. https://doi.org/10.1016/j.intfin.2022.101655 ·
Yang, R., Caporin, M., & Jiménez-Martin, J. A. (2024). ESG risk exposure: A tale of two tails. Quantitative Finance, 24(6), 827–849. https://doi.org/10.1080/14697688.2024.2349016
Ye, C., Song, X., & Liang, Y. (2022). Corporate sustainability performance, stock returns, and ESG indicators: Fresh insights from EU member states. Environmental Science Pollution Research, 29(4), 87680–87691. https://doi.org/10.1007/s11356-022-20789-8
Zahid, R. A., Khan, M. K., Anwar, W., & Maqsood, U. S. (2022). The role of audit quality in the ESG-corporate financial performance nexus: Empirical evidence from Western European companies. Borsa Istanbul Review, 22(S2), 200–212. https://doi.org/10.1016/j.bir.2022.08.011
Zhao, X., Ke, Y., Zuo, J., Xiong, W., & Wu, P. (2020). Evaluation of sustainable transport research in 2000–2019. Journal of Cleaner Production, 256, Article 120404. https://doi.org/10.1016/j.jclepro.2020.120404
Zhou, S., Rashid, M., Zobair, S., Sobhani, F., & Siddik, A. (2023). Does ESG impact firms’ sustainability performance? The mediating effect of innovation performance. Sustainability, 15(6), Article 5586. https://doi.org/10.3390/su15065586
Zimek, M., & Baumgartner, R. (2017, October 1–5). Corporate sustainability activities and sustainability performance of first and second order. In Proceedings of 18th European Roundtable on Sustainable Consumption and Production Conference (ERSCP 2017). Skiathos Island, Greece.
Zopounidis, C., Garefalakis, A., Lemonakis, C., & Passas, I. (2020). Environmental, social and corporate governance framework for corporate disclosure: A multicriteria dimension analysis approach. Management Decision, 58(11), 2473–2496. https://doi.org/10.1108/MD-10-2019-1341
View article in other formats
CrossMark check
Published
Issue
Section
Copyright
Copyright (c) 2025 The Author(s). Published by Vilnius Gediminas Technical University.
License
This work is licensed under a Creative Commons Attribution 4.0 International License.