News Big Data Analysis on Greenwashing in the ESG Era

With the paradigm shift to ESG management, the risk of extensive greenwashing exposure is increasing. This study analyze the social agenda and changes of greenwashing before and after the announcement of the government's ESG expansion policy to identify the aspects of greenwashing and suggest policy implications. To this end, news big data was collected and topic modeling analysis was conducted. The analysis results showed that the main interest in greenwashing was dealt with under the ESG paradigm in general, and that social efforts to minimize the risks of greenwashing were particularly significant in the areas of carbon emissions and green finance. In particular, in the subsequent period, the proportion of reports on the actual state and harmful effects of various greenwashing acts disguised as eco-friendly was high, and topics related to the establishment of various regulations and systems to prevent greenwashing accounted for a significant portion. Finally, it was analyzed that efforts by members of society to prevent greenwashing and eliminate risks were more widely spread. Based on these analysis results, policy implications for preventing greenwashing issues and social transition to eco-friendliness were suggested, and the limitations of the study and directions for follow-up research were suggested.