Graduation Year


Document Type

Open Access Senior Thesis

Degree Name

Bachelor of Arts



Reader 1

Marc Massoud

Reader 2

Patrick Van Horn

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This study investigates the association between ESG (environmental, social, corporate governance) scores on the financial performance of U.S. oil and gas companies, an industry facing significant ESG-related pressures. ESG scores evaluate a firm’s environmental impacts, social responsibility, and corporate governance practices and can be used as a form of evaluating a firm’s risk mitigation efforts. However, there is not sufficient evidence to conclude that there exists a relationship, positive or negative, between ESG scores and firm performance in this industry. Overall, the findings of this study highlight the growing interest in ESG investing and is useful for investors and firms in the oil and gas industry, as well as policymakers, in understanding the materiality of ESG scores.