Bridging the Gap between Corporate Intent and Sustainability Disclosure: The Intersection of CSR-ESG and Financial Markets at the New York Stock Exchange

Corporate Social Responsibility (CSR) and Environmental, Social, and Governance (ESG) have become pivotal topics in today's business landscape. In this comprehensive study, I share a journey into my passion for CSR and ESG. The introduction section lays the foundation for the study by addressing the importance of CSR and ESG, beginning with a personal connection to the subject. It provides a general introduction to CSR with a recent literature review, referencing seminal works by Archie B. Carroll, and Milton Friedman, and explores the concept of Creating Shared Value, as articulated by Michael E. Porter and Mark R. Kramer. The introduction also familiarizes readers with the 17 UN Sustainable Development Goals (SDGs) and greenhouse gas (GHG) emission accounting, including Scope 1, Scope 2, and Scope 3 emissions, along with initiatives like the Science-Based Targets Initiative (SBTi) and LEED certification. The data-related content section details the methodology for searching and sorting companies, the construction of the database from NYSE filings, and the selection criteria for companies included in the sample. It also outlines the use of IPO prospectuses to gain insights into the companies in the sample and their motivations for going public. The ESG-related content section is dedicated to an extensive analysis of ESG reports from the companies in the sample. The focus is on reorganizing ESG report content into Environmental, Social, and Governance-related issues, with qualitative and, when possible, quantitative analysis. General trends are extracted from this analysis, describing qualitative and philanthropy-related quantitative ESG practices among these companies. The questionnaire-related content section describes the design and development of a 40-question questionnaire for the Investor Relations offices of the companies in the sample. The section concludes with an analysis of the questionnaire responses, providing insights into how these companies view and implement ESG practices. In the conclusion section, the study emphasizes the critical role of orchestrating CSR and ESG inside a company, backed by findings from ESG reports and the questionnaire. It proposes an ESG framework for companies looking to embark on their ESG journey, addressing UN SDGs, environmental disclosure, social aspects like diversity and inclusion, and governance measures. I adopted the role of a consultant, offering guidance on initiating an ESG strategy and identifying key priorities. The study wraps up with an appendix, featuring essential file: a table including ESG trends findings, and all the filled questionnaires from companies in the sample, which complement the main content by providing data and questionnaires for further reference. This research serves as a valuable resource for stakeholders interested in understanding the landscape of CSR and ESG, the development of ESG strategies, and how companies are aligning themselves with global sustainability goals.