ESG Practices and Financial Performance: A Study of Non-Financial Companies in Indonesia

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This analysis reveals that ESG scores positively affect performance in non-financial firms, indicating potential benefits for stakeholders.

ESG scores, particularly environmental and social scores, positively impact financial performance.
Multiple linear regression analysis was used to assess the relationship between ESG scores and performance metrics.
The analysis included 60 companies listed on the Indonesia Stock Exchange from 2019 to 2022.
Governance scores showed no significant effect, suggesting varied influences of ESG pillars.

Asih et al. (2025) studied this question.

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This analysis reveals that ESG scores positively affect performance in non-financial firms, indicating potential benefits for stakeholders.