Objective: The study aimed to analyze the sustainable performance of publicly traded Brazilian companies from 2014 to 2022. Method: A metric covering sustainability parameters was developed based on national and international literature and Environmental, Social, and Governance (ESG) concepts. The sample consisted of 345 companies. The information for preparing the research protocol was obtained from sustainability reports, ranking indicators, and company websites. To give weight to the information, the five sustainability advances developed by the Instituto Brasileiro de Governança Corporativa (IBGC) were used. Originality/Relevance: There is a gap in the literature regarding the development of a sustainability indicator that quantifies the ESG pillars jointly. Results: 60.6% of the sample had an ESG score, 35.3% did not score, and 4.1% had a negative score. Of the total, 178 companies did not reach the second stage, and 25 remained in the fifth stage throughout the detailed period. In 2022, 80 companies participated in the last phase (23.1%). In general, companies performed better in the post-pandemic period. Unregulated companies obtained higher scores than regulated companies. However, regulated companies have included more sustainability information in their reports in recent years. Theoretical/Methodological contributions: The results of the research are presented practically, with the construction of a metric for measuring corporate sustainable development that covers the existing measures from different perspectives. In addition, it contributes to theoretical analysis, fostering debates on the topic, particularly regarding improving the quality of accounting information.
Machado et al. (Sat,) studied this question.