Environmental, Social and Governance Strategies for Sustainable Development Goal 3: Enhancing Health and Social Wellbeing

ABSTRACT The discourse on Environmental, Social, and Governance (ESG) strategies is growing, yet its ability to meaningfully advance health and social wellbeing (H&SW) in line with United Nations Sustainable Development Goal (SDG 3) remains under‐examined. Existing studies assume that ESG automatically strengthens SDG 3 outcomes, yet how the Governance pathways through which SDG 3 commitments translate into H&SW are influenced is weakly theorized. This systematic literature review (SLR), guided by the Preferred Reporting Items for Systematic Reviews and Meta‐Analyses (PRISMA) framework, synthesizes and analyzes findings from 36 relevant articles published between 2014 and 2025 across Scopus and Web of Science. Findings reveal a structural imbalance: data‐rich regions and high‐visibility sectors dominate empirical research, leading to a methodological bias toward regression and score‐based approaches, and privileging quantifiable H&SW indicators. In response, the study outlines a multi‐scalar governance framework where policy intent (macro), sectoral norms and value‐chain tools (meso), and organizational practice and culture (micro) must align for SDG 3 outcomes to materialize. The study contributes to ESG scholarship by operationalizing the SDG Compass for leveraging SDG 3 targets and sub‐targets for enhancing H&SW.