The Relationship Between Mission Statements and ESG
摘要
Subject: The research provides a deep analysis about the explanation of the influence of mission statement’s textual content on ESG scores and vice versa. Objective: The chapter explores whether and how mission statement’s textual contents reflect firms’ ESG commitment, and vice versa: alignment of mission-driven values and ESG principles can lead to greater corporate value creation and sustainability. Contribution: A theoretical and practical contribution is provided. Theoretically, it falls within a literature gap regarding how textual contents of mission statements and ESG factors are linked. Under a practical point of view, this study provides executive support for governance bodies: (1) imprinting a corporate orientation inclined towards social responsibility and improving ESG scores; (2) composing the mission with ESG references; (3) defining and monitoring ESG strategies; and (4) assessing the importance corporate social responsibility (CSR) practices have on corporate governance orientation. Relevance: CSR studies are integral to corporate culture globally. Mission statements, as statements of intent, gain value. Therefore, their textual contents become important to link to ESG goals. Originality: The research focuses on textual contents of mission statements and the reciprocal association mission statements—ESG. Method: A systematic literature review is provided.