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Theoretical background: In recent years, there has been an increase in social and environmental awareness, which has forced companies to change their approach to investment. Large companies are burdened with responsibility for contemporary, global problems such as the depletion of natural resources, the ongoing process of environmental degradation and inequalities in living standards between poor and rich countries. Therefore, when making investments, companies must evaluate them not only in terms of financial returns, but also in terms of their social, ecological and ethical impact. Two key approaches to this new investment paradigm stand out: socially responsible investment (SRI) and ESG investment (a three-pronged view of environmental, social and corporate governance). They focus on sustainable investments in order to achieve positive results for investors’ portfolios as well as for society and the environment. Purpose of the article: The following article examines both approaches, analysing their relevance, objectives, tools and economic and social impacts. Research methods: For this purpose, specialist journals published between 2001 and 2023 were searched in the Web of Science database. A literature review of socially responsible investment and ESG investment shows that interest in these concepts has increased rapidly in recent years. In addition, reports available on the websites of selected companies were analyzed. Main findings: The scientific impact on the studied concepts also makes it possible to determine future research directions. The literature contains results confirming that companies applying these approaches in their operations, achieve better results.
Szewczuk et al. (Wed,) studied this question.