Is ESG the New Corporate Social Responsibility? A Comprehensive Literature Review

Objective: This study aims to investigate the points of convergence between Corporate Social Responsibility (CSR) and the Environmental, Social, and Governance (ESG) approach, to understand whether ESG represents an evolution of CSR or a new conceptual framework in the field of corporate sustainability. Theoretical Framework: The study is grounded in CSR theories, highlighting authors such as Carroll (2010) and Schrempf-Stirling (2015), who explore the evolution of CSR, along with contemporary ESG concepts, exploring how these practices are interpreted and implemented in different socioeconomic contexts. Method: The research follows a qualitative approach, with bibliometric review (Web of Science/Scopus, 2000–2023), using term co-occurrence analysis (VOSviewer) and thematic categorization of 909 scientific articles and corporate reports. Results and Discussion: ESG stands out for its emphasis on standardized metrics and integrated governance in contrast to the historical and voluntary nature of CSR, but it perpetuates challenges such as greenwashing and the marginalization of social aspects in favor of financially oriented measurability. Research Implications: Companies can use the findings to align strategies with increasing global regulation, while investors gain insights into systemic risks associated with the superficiality of current ESG metrics. Originality/Value: The study offers a critical analysis of the ambiguities in the CSR-ESG transition through mixed methods (bibliometrics/historical), proposing a theoretical model to harmonize corporate ethics and measurable governance.