Mapping ESG-Driven sustainable development: A retrospective review and future research agenda

This bibliometric review aims to provide a retrospective overview of ESG performance research within financial, non-financial, and mixed contexts. We reviewed 169 articles selected from high-quality journals. The main theme discussed is the impact of Environmental, Social, and Governance (ESG) performance on financial performance, highlighting divergent insights across sectors and over time. These differences are highly dependent on sector-specific characteristics, corporate governance systems, ownership structures, and the financial measures used. For each sector, specific governance attributes appear to be determining factors in maintaining good ESG projects. Indeed, new ESG trends are identified in the emerging digital era, including ESG controversies, green innovation, biodiversity risks, and technological innovation, highlighting the urgent need to address them to advance ESG research. Our study provides valuable insights for practitioners, academics, and policy-makers to ensure ESG integration while achieving profitability and sustainability through effective corporate governance. • This review provides a overview of ESG performance research within financial, non-financial, and mixed contexts. • We carried out a bibliometric review, based on PRISMA guidelines of 169 articles selected from Scopus. • Six main themes emerge, focusing on ESG and financial performance, governance, and environmental impacts. • ESG performance is, and will remain, an emerging area of research and a worldwide concern.