Investment, sustainability reporting, and evolving ethical influences in the shaping of social responsibility: Evidence from South Korea

Research output: Chapter in Book/Report/Conference proceedingChapterpeer-review

Abstract

This chapter examines the roles of investment and sustainability reporting in the shaping of social responsibility in South Korea. It begins with the understanding that corporate sustainability reporting provides unique insights into the articulation of ethical corporate practices and, ultimately, standards of firm-level ethical life. Through an examination of engagement with the Sustainable Development Goals (SDGs) for 205 sustainability reports for 41 companies between 2015 and 2019, this chapter provides three major contributions. First, this chapter finds that disclosure for SDG-linked Global Reporting Initiative (GRI) metrics was just 25.9% in 2019, which is generally consistent with global data. However, this may be understated, as this study utilized more stringent criteria to avoid greenwashing and ESG-washing concerns. Second, this study finds noticeable improvement in the quality of sustainability reporting during the period of analysis. Average corporate disclosure for SDG-linked metrics increased every year, from a low of 11.7% in 2015 to a high of 25.9% in 2019. Third, an analysis of sustainability reports suggests that the application of the SDGs has expanded from a more limited role in framing corporate philanthropy and corporate social responsibility to actively shaping and measuring ethical management practices. This includes greater disclosure on the philosophy behind sustainability engagement.

Original languageEnglish
Title of host publicationEast Asian Ethical Life and Socio-Economic Transformation in the Twenty-First Century
Subtitle of host publicationThe Ethical Sources of the Entrepreneurial Renewal of Companies and Communities
PublisherTaylor and Francis
Pages209-231
Number of pages23
ISBN (Electronic)9781040051030
ISBN (Print)9781032484983
DOIs
StatePublished - 1 Jan 2024

Bibliographical note

Publisher Copyright:
© 2024 selection and editorial matter, Susan Rose-Ackerman; individual chapters, the contributors.

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