Researcher ORCID Identifier

https://orcid.org/0009-0009-0369-6350

Graduation Year

2025

Document Type

Campus Only Senior Thesis

Degree Name

Bachelor of Arts

Department

Economics

Reader 1

Dr. Patrick Van Horn

Reader 2

Dr. Nayana Bose

Rights Information

2025 Bernice O Abanda

Abstract

The increasing emphasis on sustainability and ethical business practices has placed Environmental, Social, and Governance (ESG) criteria at the forefront of corporate strategies.

This shift of ESG from the peripheral consideration to the central focus of company’s business practices has also brought about a growing interest among investors, regulators, and key stakeholders on understanding whether ESG considerations affect a firm’s profitability.

Each of the ESG dimensions are crucial in integrating sustainability efforts into companies business goals and through evaluations assigned by databases such as Bloomberg and Refinitic Eikon, the score of company’s implementation of the different ESG factors can be quantified and examined. Previously studies have found there to be a positive, negative, and or neutral link between ESG performance and financial outcomes; however the differentiated impact of each pillar on financial performance remains a subject of debate within the academic and business communities. This thesis aims to address the gap in existing research by exploring the distinct effects of the environmental, social, and governance pillars on the financial performance of U.S. consumer staples and consumer discretionary Industries. It will focus on understanding how these impacts vary, thereby providing a nuanced analysis of the relationship between ESG practices and financial outcomes.

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This thesis is restricted to the Claremont Colleges current faculty, students, and staff.

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