This study examines the correlation between ESG Scores of real estate developers and extension, lapse and delay in completion of projects undertaken by them. The study utilises publicly available secondary data on ESG Scores and real estate projects. Data is analysed using Karl Pearson’s Coefficient of Correlation. The findings show a strong negative correlation between ESG Scores and extensions, lapses and delays in completion of projects. This indicates that developers having high ESG Scores have lower percentage of extensions, lapses and delays in their projects. Moreover, governance and environmental aspects have shown highest negative correlation to extensions, lapses and delays in completion of projects, implying that developers who perform better on these fronts, have lesser extensions, lapses and delays in their projects.
Medhekar et al. (Tue,) studied this question.
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