Abstract
PurposeThe study explores the barriers to ESG adoption and develops a hierarchical relationship between identified barriers to determine the driving and dependence power.Design/methodology/approachThrough literature and unstructured interviews nine barriers affecting the adoption of ESG reporting were identified and examined using the modified Total Interpretive Structural Modelling (m-TISM) approach. Further, MICMAC analysis is used to analyse the driver-dependence power amongst the barriers.FindingsIn this analysis, the variable lying at the lowest level of hierarchy are considered to be the critical factor and lack of clarity around regulatory and reporting standards is found to be very critical for ESG adoption. To address impediments to ESG adoption, the government should make ESG disclosure mandatory and clearly explain the rules, regulations and advantages associated with ESG implementation.Originality/valueThe current study is very few among examining the barriers to ESG adoption and steppingstone towards the mandatory implementation of ESG disclosures in current scenario.
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