SUSTAINABLE FINANCE AND CORPORATE RESILIENCE: EVIDENCE FROM ASEAN COUNTRIES

Sustainable finance has become a global priority for supporting development sustainability and corporate resilience.In the ASEAN region, integrating environmental, social, and governance (ESG) aspects into financial practices is viewed as crucial for addressing climate change, energy crises, and global economic uncertainty.However, sustainable finance implementation varies across ASEAN countries, and its effectiveness on corporate resilience remains unclear.This research analyzes the influence of sustainable finance practices on corporate resilience and compares effectiveness across five ASEAN countries with different economic structures and regulatory conditions.The study employs a quantitative approach using secondary data from sustainability reports, annual company reports, and international financial databases covering 2018-2023.Analysis utilizes panel regression techniques and moderation tests to examine institutional and industry sector variations in strengthening the relationship between sustainable finance and corporate resilience.Results demonstrate that sustainable finance practices significantly positively impact corporate resilience across major ASEAN countries ( = 0.324, p < 0.001, R = 0.61).Companies consistently integrating ESG principles exhibit more stable profitability, better funding access, and superior adaptation capabilities to external shocks.However, variations exist between countries: Singapore and Malaysia show stronger impacts, while Laos and Cambodia face regulatory and financial infrastructure limitations.Sustainable finance proves to be a strategic instrument for strengthening corporate resilience in ASEAN, though effectiveness depends on regulatory context and institutional readiness.These findings confirm the importance of harmonizing sustainable finance policies across ASEAN to enhance business competitiveness and sustainability in the region.