BLOCKCHAIN AND ESG TRANSPARENCY: THE MEDIATING ROLE OF TRUST AND THE MODERATING ROLE OF REGULATORY SUPPORT

This study examines how blockchain adoption influences ESG transparency through stakeholder trust, and how regulatory support shapes this relationship in Pakistan. ESG reporting faces a credibility crisis in emerging markets. Despite SECP ESG Guidelines 2024, PSX listed firms struggle with greenwashing concerns and lack of verification. Blockchain offers immutability, traceability, and decentralized verification, yet empirical evidence linking blockchain to ESG transparency via trust remains limited. Grounded in Stakeholder Theory, Institutional Theory, and Trust Theory, this study proposes an integrated moderated-mediation framework. Blockchain adoption is conceptualized as a technological antecedent, stakeholder trust as a mediating mechanism, regulatory support as an institutional moderator, and ESG transparency as the outcome. Seven constructs are operationalized with multi-item scales on 7-point Likert scales. For methodological illustration, a reproducible simulation with 400 cases demonstrates analytical procedures. Results show blockchain adoption is positively associated with ESG transparency, b = .255, p < .001. Trust is positively associated with transparency, b = .388, p < .001, with significant indirect effect, b = .168, 95% CI [.125, .216]. The interaction between blockchain and regulatory support is positive, b = .108, p = .006. The full model explains 43.6% variance. These estimates are illustrative and require validation with primary data. The study contributes a conceptual framework for PSX blockchain-based ESG verification, highlights need for independent construct measurement and longitudinal evidence, and positions credible ESG transparency as an outcome of technological integrity, organizational trust, and institutional support.