Understanding ESG reporting drivers: governance mechanisms, firm attributes, and regulatory roles

Environmental, Social, and Governance (ESG) is a framework used by stakeholders to gauge firms’ ethical and responsible actions, beyond financial data. This framework is currently at the forefront of business and is expected to contribute towards achieving the Sustainable Development Goals (SDGs). Thus, the purpose of this study is to consolidate existing studies on the drivers of ESG reporting. For those purposes, the Web of Science database was used to extract relevant data. PRISMA-based screening, using the inclusion and exclusion criteria, resulted in a total of sixty-six articles between 2013 and February 2025. Using bibliometric methods via Bibliometrix R-package (Biblioshiny) and VOSviewer, the research mainly examines the scholarly discussion on ESG drivers. The bibliometric and content analysis identified four major themes: (1) Gender diversity and ESG reporting (2) Corporate governance and ESG reporting (3) Determinants of ESG reporting at country and firm-level, and (4) Regulations and ESG reporting. The findings have significant implications for all stakeholders, including corporate leaders, regulators/policymakers, and investors, highlighting that internal governance mechanism, institutional factors, and country- and business-specific factors play a pivotal role in ESG reporting.